Warren Buffett, CEO and Chairman of Berkshire Hathaway, on Wednesday revealed that the company has more money in terms of equity securities in Japan than in any other country in the world, excluding the US.
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Buffett explained that the investment in Japan is not about opportunities in Japan versus the United States, but rather a way to indirectly invest in American companies that have a significant presence in Japan, such as Coca-Cola and Apple. "We can do both, but we have more money through equities," he said.
Speaking after visiting Japan and meeting with five companies in each of which Berkshire Hathaway owns a 7.4 percent stake, Buffett said he was astounded by how each of the companies had performed since the initial 5 percent investment was made.
Buffett said the investment had exceeded expectations and the companies had been exceptional in their approach to building trust and relationships.
Since purchasing the group, the dividends on average have gone up 70 percent, or something like that, Buffett said, adding that Berkshire Hathaway now owns 7.4 percent of each of the five companies.
Additionally, he added that Berkshire Hathaway had insulated itself from exchange rate changes by selling periodically-denominated bonds.
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