The deal is Berkshire’s latest move in Japan, where six years ago — under the leadership of Warren Buffett — the firm revealed it had invested in the country’s largest trading houses. Buffett said in an annual letter to shareholders that the firm was looking to raise ownership in Japan’s five largest trading houses “over time”.
Tokio Marine will sell treasury shares to Berkshire Hathaway as part of its strategic partnership.
Berkshire said it will not raise its stake above 9.9% without approval from Tokio Marine’s board.
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