From Reuters, October 10:
Warren Buffett's Berkshire Hathaway has raised 281.8 billion yen ($1.9 billion) in a yen-denominated bond offer, a move analysts say lays the ground for the U.S investment company to increase its exposure to Japanese assets.
The deal was the largest bond sale in the Japanese currency for the firm in five years, a term sheet reviewed by Reuters on Thursday showed.The yen, or Samurai, bond issue signals Buffett's deepening association with Japan's capital markets after its equity stake buys in the nation's top five trading houses over the past four years.Berkshire Hathaway said in a U.S. Securities and Exchange Commission filing that the proceeds raised in the deal would be used for general corporate purposes. It did not disclose the size of the deal in the filing.The firm first announced it would buy stakes in Japan's trading houses in 2020 with the intention of holding them long-term and increasing ownership to as much as 9.9%. Since then, it has raised its stake in Japan's top five trading firms to around 9% each, according to its annual report in February....
....MUCH MORE
Not exactly John Templeton going into Japanese equities at 2-3 times earnings but Mr. Buffet sees something that the rest of the market is not bidding up.
