As of March 17, 2025, Warren Buffett has increased his holdings in Japan's five major trading companies (Itochu Corporation, Mitsui&Co., Mitsubishi Corporation, Sumitomo Corporation, and Marubeni) through Berkshire Hathaway. This investment began in 2019 and will be further increased in 2025. The following is a detailed analysis based on the latest available data.
Number of shares held and proportion of total share capital
According to the regulatory document submitted to the Japanese Ministry of Finance on March 17, 2025, Berkshire Hathaway's shareholding in the five major trading companies has increased to around 9%. The specific data is as follows:
Itochu Corporation: The shareholding ratio increased from 7.47% to 8.53%, holding approximately 12.967 million shares (based on a total share capital of 144 million shares).
Mitsui&Co.: The shareholding ratio increased from 8.09% to 9.82%, holding approximately 92.319 million shares (based on a total share capital of 1.025 billion shares).
Mitsubishi Corporation: The shareholding ratio increased from 8.31% to 9.67%, holding approximately 366.8 million shares (based on a total share capital of 4.076 billion shares).
Sumitomo Corp: The shareholding ratio increased from 8.23% to 9.29%, holding approximately 110 million shares (based on a total share capital of 1.221 billion shares).
Marubeni Corp: The shareholding ratio increased from 8.30% to 9.30%, holding approximately 15.087 million shares (based on a total share capital of 167 million shares).
Total position: Berkshire Hathaway holds approximately 589 million shares of the five major trading companies.
Market value (in billions of US dollars)
Based on market data and exchange rates as of March 17, 2025 (assuming a Japanese yen to US dollar exchange rate of 150:1, close to recent levels), the total market value of the five major trading companies and the estimated market value of Berkshire Hathaway's holdings are as follows:
Itochu Corporation: With a total market value of approximately $67.886 billion, holding a stock market value of approximately $5.85 billion.
Mitsui&Co. has a total market value of approximately $62.664 billion and holds a stock market value of approximately $5.4 billion.
Mitsubishi Corporation: With a total market value of approximately $57.442 billion, holding a stock market value of approximately $4.95 billion.
Sumitomo Corporation: With a total market value of approximately $47.003 billion, holding a stock market value of approximately $4.05 billion.
Marubeni: With a total market value of approximately 26.11 billion US dollars, holding a stock market value of approximately 2.25 billion US dollars.
Total stock market value held: approximately $23.5 billion.
Proportion of Berkshire Hathaway's total assets
Berkshire Hathaway's total assets as of December 31, 2024 were $1.153 trillion (according to Macrotrends data). Assuming there is little change in asset size by 2025, the proportion of shares held by the five major trading companies to total assets is: \frac{235}{1153} \times 100 \approx 2.04\%
Book floating profit (unrealized profit)
Berkshire Hathaway's initial investment cost is $13.8 billion (according to the shareholder letter dated February 22, 2025). As of March 17, 2025, the stock market value held reached $23.5 billion, with unrealized profits of: 235-138=97 billion US dollars, which reflects the appreciation brought by the rise of the Japanese stock market and the strong performance of trading companies' stock prices.
The operational status of the five major trading companies
As Japan's "Sogo shosha" (comprehensive trading companies), the five major trading companies cover multiple fields such as energy, metals, food, logistics, and financial services, and their overall business performance is good
Market adaptability: These companies have reduced single market risk by diversifying their businesses. For example, Mitsubishi Corporation has performed strongly in the energy and metals sectors, with total assets exceeding 22 trillion yen in 2023.
Global networks: They occupy an important position in international trade, such as Itochu's global layout in food and consumer goods distribution.
Recent performance: In 2024, the Japanese stock market rose due to loose monetary policy and corporate governance reforms, benefiting the stock prices of the five major trading companies. Buffett's investment further boosted market confidence.
Financial Health: These companies generally have stable profitability, high dividend payout ratios, and gradually increase stock repurchases, which is in line with Buffett's value investing philosophy.
conclusion
As of March 17, 2025, Buffett holds approximately 589 million shares of the five major trading companies, with a total market value of $23.5 billion, accounting for 2.04% of Berkshire Hathaway's total assets, and a book profit of $9.7 billion. These companies have stable operating conditions, diversified business and global layout, which have shown strong resilience in economic fluctuations, supporting Buffett's long-term investment confidence.
Note: The data is based on public information and reasonable estimates, and specific stock prices and asset values may vary due to market fluctuations
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