OMAHA, Nebraska, May 3 (Reuters) -

Warren Buffett on Saturday gave a full-throated endorsement

to the five Japanese trading houses in which his conglomerate

Berkshire Hathaway ( BRK/A )

has invested.

Buffett spoke at Berkshire's annual shareholder meeting in

Omaha, Nebraska, 1-1/2 months after Berkshire said it raised its

stakes in Itochu ( ITOCF ), Marubeni ( MARUF ), Mitsubishi ( MSBHF )

, Mitsui ( MITSF ) and Sumitomo ( SSUMF ) to as high as

9.8%.

Berkshire's investments in the companies had totaled

$23.5 billion at the end of 2024.

"In the next 50 years, we won't give a thought to

selling those," Buffett said. "We have been treated extremely

well by the five companies.... Our main activity is just to

cheer and clap."

Greg Abel, a Berkshire vice chairman who is expected to

succeed Buffett as chief executive, added that he envisioned

Berkshire owning the trading houses for 50 years "or forever."

"We're building relationships," he said, "and we really hope

to do big things with them."

Known as "sogo shosha," Japanese trading houses trade in a

variety of materials, products and food, often serving as

intermediaries, and provide logistical support.

They are also deeply involved in the real economy in such

areas as commodities, shipping and steel.

Berkshire began investing in the trading houses in 2019, and

revealed 5% ownership stakes on Buffett's 90th birthday the

following August.

Buffett prefers to avoid businesses he says he does not

understand, and has likened the trading houses to his own

conglomerate.