Berkshire raises stake in Japan's Mitsubishi above 10%

TOKYO :Berkshire Hathaway, through its wholly-owned unit National Indemnity Company, has raised its stake in Japan's Mitsubishi Corp and Mitsui & Co, the companies said on Thursday.

Berkshire raised its stake in Mitsubishi to 10.23 per cent from 9.74 per cent previously, the company said in a market disclosure. A Mitsui official confirmed Berkshire had raised its stake, but declined to give a percentage.

Its prior stake in Mitsui was 9.82 per cent.

Berkshire previously raised its holdings in five Japanese trading houses, including Mitsubishi and Mitsui, in March.

Shares in Mitsubishi rose 1.85 per cent and Mitsui was up 1.23 per cent on Thursday, while the benchmark Nikkei gained 0.73 per cent.

Sumitomo Corp rose 1.1 per cent, Itochu increased 1.15 per cent and Marubeni gained 1.17 per cent.