ITOCHU Corporation Chairman Okafuji Masahiro said at the regular press conference of the Japan Foreign Trade Association on Wednesday that Berkshire is optimistic about the “economic moat” that Japanese general trading companies have, including huge global business networks and highly mature capital allocation capabilities, building a high barrier to entry into the industry. This is one reason why Berkshire Hathaway invests in these companies. He said, “Berkshire will not criticize the business affairs of a trading company. Berkshire currently holds about 10% of the shares in these trading companies, and the company said that even if the shareholding ratio were raised to 15%, it would not raise any objections. As a shareholder, Berkshire is extremely valuable to us.”

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