Ultime notizie per Mitsui & Co (OTC:MITSY) Azioni

MITSUI AND CO ADR ##

Mitsui & Co

Mitsui & Co Ltd is a general trading company with a wide range of business activities in the areas of iron and steel, mineral and metal resources, machinery and infrastructure, chemicals, energy, lifestyle, innovation, and corporate development. The firm also participates in the development of natural resources, and it has minority interests in several upstream resource projects, which include iron ore and coal projects in Australia; copper mining projects in Chile; and oil and gas projects in Asia, the Middle East, and the United States.

MITSUI & CO LTD ADR by Mitsui & Co., Ltd.

Mitsui & Co Ltd

Mitsui &amp; Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSY#OTC">MITSY</a>) is looking for FY2025 GAAP EPS of $2.11..

News

Guidance

MITSY

Mitsui & Co Sees FY2025 GAAP EPS JPY 313.44.

Mitsui &amp; Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSY#OTC">MITSY</a>) reported quarterly earnings of $6.20 per share. This is a 33.62 percent decrease over earnings of $9.34 per share from the same period last year. The company reported $23.46 billion in sales this quarter. This is a 4.99 percent increase over sales of $22.34 billion the same period last year.

Earnings

Mitsui & Co Q2 EPS $6.20 Down From $9.34 YoY, Sales $23.46B Up From $22.34B YoY

The Company will use the proceeds from the transaction toward debt repayment.&nbsp;The transaction is expected to close by the end of October 2024
AUSJ, a uniform rental services provider in Japan, was established in 1988 as a joint venture between a group of companies including Vestis&#39; former parent company Aramark.
Vestis does not expect to record a material gain or loss as a result of the sale of its minority stake, which was accounted for as a non-operating equity investment and therefore not included in Operating Income or Adjusted EBITDA.

Asset Sales

VSTS

Vestis Agrees To Sell Its 39% Equity Stake In Aramark Uniform Services Japan Corporation To Majority Owner Mitsui & Co., Ltd. For $37M

Private equity giants such as Blackstone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) have seemingly gobbled up everything in the United States market, from <a href="https://www.google.com/search?q=rover+blackstone+benzinga&amp;oq=rover+blackstone+benzinga&amp;gs_lcrp=EgZjaHJvbWUyCQgAEEUYORigATIHCAEQIRigATIHCAIQIRigATIHCAMQIRigATIHCAQQIRigAdIBCDI2MjZqMGo5qAIAsAIB&amp;sourceid=chrome&amp;ie=UTF-8">pet care</a> to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37719939/is-it-time-to-buy-the-commercial-real-estate-dip-the-worlds-biggest-private-equity-">real estate</a>, even eying a <a href="https://www.benzinga.com/general/sports/24/05/38710804/nfl-rule-could-open-door-for-big-money-investors-will-your-team-go-up-for-sale">purchase of sports teams</a>. The NYC-based investment management company has eyed a new opportunity: <a href="https://www.benzinga.com/topic/japan">the Japanese market</a>. 
What Happened: Nikkei Asia <a href="https://asia.nikkei.com/Business/Finance/Blackstone-eyes-10bn-in-Japan-deals-amid-buyout-fund-influx">reported</a> that Blackstone is planning to invest $9.6 billion in Japan by 2027.
&#8220;There are a number of factors that have come together that have really accelerated growth in the Japanese economy as well as investment opportunities,&#8221; Blackstone President Jonathan Gray told Nikkei. &#8220;It&#8217;s been the return of inflation to the Japanese economy, the strength in the stock market, the policies under Prime Minister [Fumio] Kishida, which have encouraged individual Japanese to move from savers to investors, which we think is very important, the encouragement of companies to focus on return on equity and to look at selling noncore divisions.&#8221;
The iShares MSCI Japan ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWJ#NYSE">EWJ</a>) is up over 9% in 2024 and the Japanese Yen is as weak against the U.S. Dollar as it has been in several decades.
Why it Matters: Blackstone is not alone in pursuing opportunities in the Japanese market. Investment managers, including Bain Capital and KKR &amp; Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), are increasingly favoring Japan rather than China and India for investment opportunities.
Carlyle Group, which has previously invested in Japan, saw an internal rate of return of 28%, compared with around 8% to 14% for major Carlyle funds with focuses in Europe or Asia, according to Nikkei.
Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) has made several investments in Japan in recent years. CEO Warren Buffett famously <a href="https://www.nytimes.com/2008/10/17/opinion/17buffett.html">prefers</a> to invest in American companies, but a favorable Japanese interest rate environment led Berkshire to take stakes in the following Japanese conglomerates in 2020:
<ul>
<li>Itochu Corp.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>)</li>
<li>Mitsubishi Corp.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>)</li>
<li>Mitsui &amp; Co., Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSY#OTC">MITSY</a>)</li>
<li>Sumitomo Corp.&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSUMY#OTC">SSUMY</a>)</li>
<li>Marubeni Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>)</li>
</ul>
The late vice-chairman Charlie Munger championed <a href="https://www.benzinga.com/startups/23/11/35539422/charlie-munger-raves-about-warren-buffetts-rare-japanese-investment-opportunity-of-a-century-it-was">Berkshire&#8217;s Japanese investments</a>.
&#8220;It was like having God just opening a chest and just pouring money into it,&#8221; Munger said.
Also Read: <a href="https://www.benzinga.com/markets/equities/24/05/38959529/blackstone-to-grant-equity-to-rank-and-file-employees-at-us-buyouts-report">Blackstone To Grant Equity To Rank-And-File Employees At US Buyouts: Report</a>
Image generated using artificial intelligence via Midjourney.

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Private Equity Giant Blackstone Targets Japanese Market, Anticipates 'Accelerated Growth': Report

The Nikkei 225, an index representing the shares of the 225 largest publicly traded Japanese companies, crossed the 39,000-point threshold, charting a remarkable U-shaped recovery <a href="https://www.benzinga.com/topic/japan">through monumental economic shifts</a>.
However, renowned investor Warren Buffett might not be as hyped about this particular milestone. 
<img decoding="async" src="https://www.benzinga.com/files/images/story/2024/1708616119_0.png" alt="" />
<h2 class="wp-block-heading">A Different Story, For A Dollar-Based Investor</h2>
In January 1990, the global landscape was revolutionized by Japanese technological innovations (i.e., televisions, cameras, and video game consoles). 
During this era, the Nikkei 225 peaked at 38,950 points. This marked a staggering 500% increase over the previous decade, translating to an annualized return of 20%.
For the next 34 years, the Nikkei navigated through the dot-com bubble burst, the 2008 financial crisis, the economic ascent of China, and a prolonged period of tepid Japanese economic growth accompanied by over a decade of negative interest rates.
Its current performance presents a contrasting narrative for foreign investors converting their returns into their own currencies.
The dollar-yen exchange rate is currently hovering at its highest levels since July 1990, fueled by the contrasting monetary policies of the Federal Reserve and the Bank of Japan (BoJ), as well as the varying economic growth trajectories of the United States and Japan.
In a stark departure from the BoJ&#8217;s approach of maintaining interest rates at zero or even negative levels since the end of 2010, the Federal Reserve has escalated the cost of borrowing to highs not seen in over two decades, with rates ranging between 5.25% and 5.5%.
While the Yen-denominated Nikkei has showcased a robust gain of over 160% in the past decade, this achievement is significantly diminished for dollar-based investors like Buffett who opted for the currency unhedged iShares MSCI Japan Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWJ#NYSE">EWJ</a>). 
For them, the return dwindles to just 46%, primarily eroded by the yen&#8217;s depreciation against the dollar. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22095115/image-48-1024x495.png" alt="" class="wp-image-225537" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22095115/image-48-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22095115/image-48-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22095115/image-48-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22095115/image-48-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/02/22095115/image-48.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">The Buffett Effect</h2>
Recall last April, when Buffett augmented his investments in Japanese corporations. The Oracle of Omaha set his sights on five major Japanese trading houses: Itochu Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>), Mitsubishi Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>), Mitsui &amp; Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSY#OTC">MITSY</a>), Sumitomo Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>), and Marubeni Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>). 
Those entities are recognized for their diversified business operations and tend to be valued at lower or more reasonable market prices.
The &#8220;Buffett Effect&#8221; arguably catalyzed a wave of renewed enthusiasm and confidence in the Japanese stock market.
After Buffett&#8217;s notable investments in April, the Nikkei index experienced a significant 37% increase. Among the companies Buffett invested in, Mitsubishi was the standout, surpassing the overall performance of the Japanese market.
However, this period also saw the U.S. dollar strengthen dramatically, rising more than 12% against the Japanese yen. This increase in the dollar&#8217;s value had a moderating effect on the actual returns for investors who convert their earnings from Japanese stocks back into dollars. 
Essentially, while the investments in Japanese stocks showed paper gains in yen, the appreciation of the dollar against the yen meant that when these earnings were converted back to dollars, the gains were less impressive than they initially appeared.
Now Read: <a href="https://www.benzinga.com/markets/asia/24/02/37257680/asia-and-europe-markets-gain-gold-advances-and-crude-oil-inches-towards-78-global-market-overview-wh">Asia and Europe Markets Gain, Gold Advances, And Crude Oil Inches Towards $78 &#8211; Global Market Overview While The US Slept</a>
Image: Shutterstock

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Japan's Nikkei 225 Hits Record Highs, But Warren Buffett Is Holding The Applause: Here's Why

Mitsui &amp; Co.(OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSY#OTC">MITSY</a>), one of Japan&#8217;s leading trading houses, has warned that global demand for&nbsp;<a target="_blank" href="https://www.benzinga.com/23/09/34496182/winter-is-coming-the-rise-of-liquefied-natural-gas-in-the-energy-market-not-everyone-will-be-a-winne" rel="noreferrer noopener">liquefied natural gas</a>&nbsp;(LNG) will likely exceed supply expectations, and the current project pipeline will not suffice to meet this demand, especially in the context of the ongoing energy transition.&nbsp;
What Happened: "Announced projects in the world still won't make up for the supply needed when considering the&nbsp;energy transition that will take several decades,&#8221;&nbsp;Kenichi Hori, the President of Mitsui, said, Bloomberg&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2023-10-16/world-lacks-enough-lng-for-energy-transition-key-trader-says" rel="noreferrer noopener">reported</a>.&nbsp;
The company, along with other major Japanese trading houses, is deeply involved in fossil fuels. Warren Buffett&#8216;s Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) <a href="https://www.benzinga.com/markets/asia/23/06/32913032/warren-buffetts-berkshire-hathaway-raises-stake-in-5-japanese-trading-houses" target="_blank" rel="noreferrer noopener">increased its stake</a> in these firms back in June. 
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-energy-stocks" rel="noreferrer noopener">Best Energy Stocks for the Week</a>
While LNG is viewed as a cleaner fossil fuel to reduce emissions, tight supply conditions are expected to persist until around 2026 when new projects are set to begin operation.&nbsp;
Why It Matters:&nbsp;Mitsui recognizes the importance of diversifying supply sources for energy security, and Hori noted that the Middle East, including Qatar, remains a vital LNG source for Japan&#8217;s diversification efforts.&nbsp;
Besides gas and LNG, Mitsui is focusing on other pathways for the energy transition, including renewable energy, ammonia, and hydrogen. They have announced substantial investments in offshore wind projects and are exploring opportunities in e-methanol.&nbsp;
Mitsui envisions its portfolio evolving from traditional energy to a low-carbon-intensive era. They also plan to increase dividends when their base profit earnings power rises.&nbsp;
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/10/35302469/gavin-newsoms-climate-focused-china-visit-includes-stops-at-tesla-shanghai-factory-and-hong-kong-uni" rel="noreferrer noopener">Gavin Newsom&#8217;s Climate-Focused China Visit Includes Stops At Tesla Shanghai Factory And Hong Kong University</a>
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Warren Buffett-Backed Trading Giant's Warning: LNG Shortage Threatens Global Energy Shift

One of the most well-known investors of all time is seeing his recent investment activity called out by a more recent well-known investor.
Are the comments praise or an attempt to take on his legacy?
What Happened: Legendary investor and Berkshire Hathaway Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brk-a#NYSE">BRK-A</a>)(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brk-b#NYSE">BRK-B</a>) CEO <a href="https://www.benzinga.com/topic/warren-buffett">Warren Buffett</a> has been increasing his bets on Japanese stocks and enjoying strong returns&nbsp;<a href="https://www.benzinga.com/markets/asia/23/06/32865614/warren-buffetts-bets-on-this-country-tripled-to-17-billion-hint-its-not-the-us">in recent months.</a>
The investment strategy saw&nbsp;his ownership stakes in the Japanese companies increase and came&nbsp;at a time when major Japanese stock market indexes <a href="https://www.benzinga.com/markets/asia/23/05/32403975/japanese-stocks-rallied-five-weeks-in-a-row-after-warren-buffetts-bet-outperforming-a-nearly-flat-s">outperformed the key American stock index metrics.</a>
Investor <a href="https://www.benzinga.com/topic/chamath-palihapitiya">Chamath Palihapitiya</a>, who was once labeled as the &quot;next Buffett&quot; by the media, took to Twitter to share his thoughts on Buffett&rsquo;s strategy.
&ldquo;I was really curious about Buffett&rsquo;s ownership of the Japanese trading companies and wanted to understand why he did it? As it turns out, the trade is really brilliant,&rdquo; Palihapitiya <a href="https://twitter.com/chamath/status/1671806525029986304">tweeted</a>. &ldquo;He found a group of companies that had very low volatility, grew earnings predictably, had a good dividend and, in most cases, were buying back their stock.&rdquo;
Palihapitiya said the next step by Buffett is one that is &ldquo;awesome.&rdquo;
&ldquo;As far as I can tell, he issues Japanese debt at very low rates, uses the proceeds to buy the stocks and then uses the dividends he then gets from owning these stocks (which are greater than the interest rates he&rsquo;s paying to borrow in the first place) to pay the coupon!&rdquo;
The investor said this could be a &ldquo;near-risk less bet&rdquo; by borrowing trillions of Japanese Yen for free and using the proceeds to buy stakes in companies that are &ldquo;growing earnings in the mid-teens.&rdquo;
&ldquo;And over a 10-20 year holding period, he becomes insensitive to currency vol and so really can&rsquo;t lose money. He locks in the earnings gains over this period along with whatever spread he keeps between his dividends and his coupons.&rdquo;
The risk for Buffett is the concern that the Japanese economy could totally blow up, which Palihapitiya said is &ldquo;pretty unlikely&rdquo; as the companies in question are also exposed to the rest of the world.
&ldquo;It&rsquo;s inspiring to see folks act this intelligently at scale. That&rsquo;s why he&rsquo;s the (GOAT).&rdquo;
Related Link: <a href="https://www.benzinga.com/news/23/06/32915688/chamath-palihapitiya-sounds-the-alarm-corporate-america-running-into-massive-debt-wall">Chamath Palihapitiya Sounds The Alarm-Corporate America Running Into Massive Debt Wall</a>
Why It&rsquo;s Important: The post by Palihapitiya drew plenty of responses from the public and his 1.6 million followers on Twitter.
One user questioned the potential criticism of Buffett as he once compared himself to the famed investor. Palihapitiya said he never compared himself to Buffett and it was the media.
&ldquo;Don&rsquo;t trust what you read,&rdquo; Palihapitiya said.
Another user said this was misleading as the shareholder letters issued by Social Capital in 2018, 2019 and 2020 compared early returns of his&nbsp;Social Capital to Berkshire Hathaway.
&ldquo;You chose Buffett as your benchmark. Which is comparing yourself to him,&rdquo; the user said.
Palihapitiya said this was different than a comparison and was only a benchmark.
One user was quick to point out that Buffett is producing a crazy return on equity by borrowing at 0% to 1% and investing in 7% to 10%. Palihapitiya said it could be better than this with borrowing at 1% to 2% and investing at 12% to 14%.
Palihapitiya acknowledged a user that called Buffett&rsquo;s strategy as yield farming by calling it &ldquo;OG yield farming.&rdquo;
A user asked what it was that the Japanese companies Buffett has invested in do and how he can use this investment strategy.
&ldquo;They are middlemen that trade in various commodities for many economies in the world. So as long as the world needs &lsquo;stuff&rsquo; these folks will provide it for a small fee&hellip;hence it&rsquo;s bet levered world GDP which tends to grow over long periods of time,&rdquo; Palihapitiya said.
Palihapitiya added the Berkshire Hathaway can issue debt anywhere on the planet.
Short seller<a href="https://www.benzinga.com/topic/muddy-waters"> Muddy Waters</a> replied to Palihapitiya&rsquo;s post asking if it &ldquo;depends on what the definition of &lsquo;is&rsquo; is.&rdquo;
&ldquo;Don&rsquo;t worry about this mid level bullsh**. I&rsquo;m just trolling these guys,&rdquo; Palihapitiya told Muddy Waters.
The comments by Palihapitiya come as Buffett&rsquo;s bets on five Japanese companies have grown from $6 billion to $17 billion.
Berkshire Hathaway <a href="https://www.benzinga.com/markets/asia/23/06/32913032/warren-buffetts-berkshire-hathaway-raises-stake-in-5-japanese-trading-houses">took 5% stakes</a> in several Japanese companies back in August 2020, positions which have increased along the way. The Japanese companies are:
Itochu Corp (OTC: <a class="ticker" href="https://www.benzinga.com/stock/itocf#OTC">ITOCF</a>)
Marubeni Corp (OTC: <a class="ticker" href="https://www.benzinga.com/stock/maruf#OTC">MARUF</a>)
Mitsubishi Corp (OTC: <a class="ticker" href="https://www.benzinga.com/stock/msbhf#OTC">MSBHF</a>)
Mitsui &amp; Co Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mitsy#OTC">MITSY</a>)
Sumitomo Corp (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssumf#OTC">SSUMF</a>)
Read Next: <a href="https://www.benzinga.com/general/politics/23/06/32906347/chamath-palihapitiya-hosts-fundraiser-for-robert-kennedy-jr-i-saw-a-really-authentic-and-sensiti">Chamath Palihapitiya Hosts Fundraiser For Robert Kennedy Jr: &#39;I Saw A Really Authentic And Sensitive Person</a>
Photo: CP via Shutterstock, Buffet via White House (Public Domain) 
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Chamath Palihapitiya Calls Out Warren Buffett's Japanese Investments: Is He Throwing Shade Or Praising The Legendary Investor?

Warren Buffett&#39;s Berkshire Hathaway Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brk#NYSE">BRK</a>) announced&nbsp;Monday that it&nbsp;<a href="https://www.benzinga.com/markets/asia/23/06/32865614/warren-buffetts-bets-on-this-country-tripled-to-17-billion-hint-its-not-the-us" target="_blank">has increased its stakes in Japan&#39;s top five trading houses</a>. This move is believed to have contributed to the robust momentum driving the nation&#39;s stock market to reach multiyear highs.
The company holds stakes in&nbsp;Itochu Corp.&nbsp;(OTCPK: ITOCF),&nbsp;Marubeni Corp.&nbsp;(OTCPK: MARUF),&nbsp;Mitsubishi Corp.&nbsp;(OTCPK: MSBHF),&nbsp;Mitsui &amp; Co. Ltd&nbsp;(OTCPK: MITSY), and&nbsp;Sumitomo Corp.&nbsp;(OTCPK: SSUMF).
Berkshire&nbsp;said its stakes in these companies now average more than 8.5%. The Japanese companies&#39;&nbsp;aggregate value considerably exceeds Berkshire-held public stocks in any other country outside of the U.S.
In 2020, Berkshire first bought stakes in Japan&#39;s trading houses.&nbsp;
&quot;The tailwinds for Japanese equities continue to multiply,&quot; Reuters quoted Charu Chanana, market strategist at broker Saxo Markets&nbsp;in Singapore, as saying.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/23/06/32881813/warren-buffetts-151-billion-gamble-customers-wont-trade-their-apple-iphones-for-10-000-and-heres-why">Warren Buffett&#39;s $151 Billion Gamble: Customers Won&#39;t Trade Their Apple iPhones For $10,000, And Here&#39;s Why</a>
&quot;While it was previously hinted that Berkshire will increase its stake, the announcement has come somewhat sooner than expected and will further boost optimism on Japanese stocks,&quot; Chanana said.&nbsp;
Berkshire remains committed to maintaining its Japanese investments for the foreseeable future. With regard to pricing, the company said it is open to expanding its holdings in any of the five assets, with a maximum stake of 9.9%.
Earlier in April, Buffett traveled to Japan and met with the CEOs of each of the five companies.
According to regulatory filings from June 12, the trading firms&#39; reports revealed Berkshire Hathaway&#39;s ownership percentages as follows: 7.4% of Itochu&#39;s stock, 8.3% of Marubeni and Mitsubishi&#39;s stock, 8.1% of Mitsui&#39;s stock&nbsp;and 8.2% of Sumitomo&#39;s stock, reports Reuters.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/23/06/32817154/warren-buffett-transformed-his-neighbors-life-savings-of-67-000-into-400-million">Warren Buffett Transformed His Neighbor&#39;s Life Savings Of $67,000 Into $400 Million</a>
Photo via Shutterstock.&nbsp;

Warren Buffett's Berkshire Hathaway Raises Stake In 5 Japanese Trading Houses

Warren Buffett consistently demonstrates a knack for spotting undervalued companies and making calculated, <a href="https://www.benzinga.com/topic/warren-buffett">often surprising moves</a>.
One of his more recent ventures took an unexpected turn to the Far East, with stakes in five Japanese companies ballooning to $17 billion in less than three years.
In August 2020, Buffett&rsquo;s Berkshire Hathaway (NYSE: <a href="https://www.benzinga.com/quote/BRK-A">BRK-A</a>) (NYSE: <a href="https://www.benzinga.com/quote/BRK-B/news">BRK-B</a>) veered away from its familiar U.S.-based investments to snap up 5% stakes in the following companies:
Itochu Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITOCF#OTC">ITOCF</a>) 
Marubeni Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MARUF#OTC">MARUF</a>) 
Mitsubishi Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>) 
Mitsui &amp; Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSY#OTC">MITSY</a>) 
Sumitomo Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSUMF#OTC">SSUMF</a>)
Being dubbed the &ldquo;Oracle of Omaha&rdquo; is no small feat, and the Japanese investments illustrate why he holds the title.
Since those initial investments, he&#39;s added more to the positions, to the tune of 7.4%. With the Japanese stocks soaring to multi-decade highs, the $6 billion investment is now worth $17 billion, a gain of about 183%, placing Berkshire&rsquo;s Japanese holdings amongst its largest positions.
Read also: <a href="https://www.benzinga.com/news/23/06/32860674/if-you-invested-1-000-in-berkshire-hathaway-when-warren-buffett-became-the-worlds-richest-person-her">If You Invested $1,000 In Berkshire Hathaway When Warren Buffett Became The World&rsquo;s Richest Person, Here&rsquo;s How Much You&rsquo;d Have Today</a>
By the end of 2021, only nine of Berkshire&rsquo;s top 15 holdings were over the $4 billion mark &mdash; now, three of its Japanese holdings sit above that line, <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-japan-stock-price-portfolio-shareholder-returns-2023-6?utm_source=facebook&amp;utm_campaign=business-sf&amp;utm_medium=social&amp;fbclid=IwAR0VqYiMDqf2cdwg0wBL02_Pf2btGPu1zbKEEnOgZoFTlfoJVtN5wRkDlOY">according</a> to Business Insider.
Buffett isn&rsquo;t one to make moves without a calculated strategy. In Berkshire&rsquo;s annual meeting in May, he pointed out that the companies were &ldquo;ridiculously&rdquo; undervalued, deeply ingrained in industries familiar to Berkshire, and large enough to make a significant impact on Berkshire&rsquo;s earnings.
But what does Buffett&rsquo;s Far East venture mean for the everyday investor? There are opportunities to follow in Buffett&rsquo;s footsteps by investing in Japanese equities through exchange-traded funds.
Two notable options are the iShares MSCI Japan ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWJ#NYSE">EWJ</a>) and the WisdomTree Japan Hedged Equity Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXJ#NYSE">DXJ</a>) The former is vulnerable to fluctuations in the value of the Japanese yen versus the dollar, while the latter hedges against such currency swings, providing a safer bet for U.S.-based investors.
Read Next: <a href="https://www.benzinga.com/markets/asia/23/05/32403975/japanese-stocks-rallied-five-weeks-in-a-row-after-warren-buffetts-bet-outperforming-a-nearly-flat-s">Japanese Stocks Rallied Five Weeks In A Row After Warren Buffett&rsquo;s Bet, Outperforming A Nearly Flat S&amp;P 500</a> 
Photo: Shutterstock

Mid Cap

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Trading Ideas

General

WisdomTree Trust Japan Total Dividend Fund

Warren Buffett's Bets On This Country Tripled To $17 Billion: Hint, It's Not The US

Since Warren Buffett expressed willingness to raise his exposures to Japanese trading companies on&nbsp;April 10, the Nikkei 225 index, which represents the broad&nbsp;Japanese stock market, registered gains for five straight weeks, increasing by 8%&nbsp;and surging <a href="http://www.benzinga.com/markets/asia/23/04/31742382/buffett-loves-japan-nikkei-stocks-rally-after-berkshire-hathaway-ceo-says-he-raises-bets-in-five-jap" target="_blank">back to November 2021 highs.&nbsp;</a>
In comparison, the S&amp;P 500 index, which is tracked by the SPDR S&amp;P 500 Trust ETF (ARCA: SPY), only gained by 1% over the same time span, thus lagging well behind Japanese equities.&nbsp;
Until Buffett publicly stated his desire to boost his holdings of Japanese stocks, the Nikkei and the S&amp;P 500 had almost&nbsp;equal year-to-date performance, as the chart below shows.&nbsp;
Chart: The Buffett&#39;s Effect | Japanese Stocks&nbsp;Strongly Outperformed U.S. Peers Since Buffett&#39;s Bet In April
<img alt="" src="https://www.benzinga.com/files/u1363475/nikkei225_2023-05-15_18-51-54_3b864.png" style="height:500px; width:100%" />
Why Buffett Loves Japan:&nbsp;Buffett has long had an attraction for the Japanese &quot;sogo sosha,&quot;&nbsp;or trading house companies, which are diversified conglomerates that trade at cheap or discount&nbsp;valuations&nbsp;on the market. Just what Berkshire Hathaway Inc.&#39;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bkr-a#NYSE">BKR-A</a>) CEO&nbsp;needs to hear.&nbsp;
The &quot;Oracle of Omaha&quot;&nbsp;had purchased slightly more than 5% of Japan&#39;s top five trading houses in August 2020:&nbsp;Itochu Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/itocy#OTC">ITOCY</a>), Mitsubishi Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/msbhf#OTC">MSBHF</a>), Mitsui &amp; Co. Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mitsy#OTC">MITSY</a>), Sumitomo ADR&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssumy#OTC">SSUMY</a>), and Marubeni ADR&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/maruy#OTC">MARUY</a>). Buffett&nbsp;then increased his bets twice in November 2022 and April 2023.&nbsp;
How To Invest In Japanese Equities: There are two major exchange-traded funds (ETFs) that provide investors with exposure to Japanese equities.
The primary distinction between them relates to their currency hedging strategies.
The currency-unhedged iShares MSCI Japan ETF (ARCA: EWJ) tracks a market-cap-weighted index that encompasses around 85% of the investable universe of securities traded in Japan. In this case, a U.S.-based investor would be susceptible to swings in the Japanese yen&#39;s performance versus the dollar.
The WisdomTree Japan Hedged Equity Fund (ARCA: DXJ) invests in Japanese dividend-paying firms while hedging against currency swings. In this situation, a U.S.-based investment would not be exposed to currency risk.
Over the previous three years, DXJ has significantly outperformed EWJ by more than 50% due to&nbsp;a sharp rise in the dollar&#39;s relative value to the yen.
Chart: There Has Been A&nbsp;Notable Performance Gap Between Hedged And Unhedged Japanese Equities
<img alt="" src="https://www.benzinga.com/files/u1363475/ewj_2023-05-15_19-19-51_7a0b5.png" style="height:500px; width:100%" />
Read Also:&nbsp;<a href="https://www.benzinga.com/23/05/32369349/lessons-from-berkshire-warren-buffett-2023-shareholders-meeting-do-what-you-are-good-at-remove-toxic" target="_blank">Lessons From Berkshire Warren Buffett 2023 Shareholder&#39;s Meeting: Do What You Are Good At, Remove Toxic People And Be Kind</a>
Photo: Shutterstock
<ul>
</ul>

Specialty ETFs

Opinion

Movers

BKR-A

Japanese Stocks Rallied Five Weeks In A Row After Warren Buffett's Bet, Outperforming A Nearly Flat S&P 500

Billionaire investor&nbsp;Warren Buffett&nbsp;said in an interview with Nikkei on Tuesday that&nbsp;<a href="https://www.benzinga.com/markets/asia/23/04/31740469/warren-buffett-very-proud-of-japanese-investments-5-tokyo-listed-stocks-berkshire-has-stakes-in" target="_blank">he was proud of his investments in shares of Japanese trading houses.</a>
In his appearance on CNBC&rsquo;s Squawk Box on Wednesday, he elaborated further on the logic behind his Japanese bets.
What Happened:&nbsp;Buffett&rsquo;s agreed that his investment in Japanese stocks reflects his stamp of approval in Japan. This was accurate a couple of years ago too, he said.
&ldquo;I was confounded by the fact that we could buy into these companies and in effect have earnings yield, maybe 14% or something like that, with dividends&hellip;.. that grew 70% during that time and people were investing money at quarter percent or nothing, and then the quarter percent, if they put it out for a year, it wasn&rsquo;t going to grow,&rdquo; the billionaire said.
&ldquo;It&#39;s sure gonna be better than I thought it would be.&quot;
See Also:<a href="https://www.benzinga.com/money/warren-buffetts-forex-strategy" target="_blank">&nbsp;Warren Buffett&#39;s Forex Strategy</a>
Tracing Back Investment History:&nbsp;&nbsp;Buffett told CNBC that the investment in the Japanese trading houses started about four years ago.
&ldquo;I was looking at company after company, as I do every day and I just thought these were big companies. These were companies that I generally understood what they did, somewhat similar to&nbsp;Berkshire Hathaway, Inc.&nbsp;(NYSE:&nbsp;<a href="https://www.benzinga.com/stock/brk-a#NYSE" target="_blank">BRK-A</a>) (NYSE:&nbsp;<a href="https://www.benzinga.com/stock/brk-b#NYSE" target="_blank">BRK-B</a>),&quot; the billionaire investor said.
These stocks were trading at &ldquo;ridiculous&rdquo; prices, compared to the interest rates that prevailed at that time, he said.
Buffett said he, therefore, started buying all five largest trading houses during his 90th birthday (Aug. 30, 2020). The five trading companies Berkshire has stakes in are:
<ul>
<li>Itochu Corp.&nbsp;(OTC:&nbsp;<a href="https://www.benzinga.com/stock/itocy#OTC" target="_blank">ITOCY</a>)</li>
<li>Mitsubishi Corp.&nbsp;(OTC:&nbsp;<a href="https://www.benzinga.com/stock/msbhf#OTC" target="_blank">MSBHF</a>)</li>
<li>Mitsui &amp; Co., Ltd&nbsp;(OTC:&nbsp;<a href="https://www.benzinga.com/stock/mitsy#OTC" target="_blank">MITSY</a>)</li>
<li>Sumitomo Corp.&nbsp;(OTC:&nbsp;<a href="https://www.benzinga.com/stock/ssumy#OTC" target="_blank">SSUMY</a>) and</li>
<li>Marubeni Corp.&nbsp;(OTC:&nbsp;<a href="https://www.benzinga.com/stock/maruy#OTC" target="_blank">MARUY</a>)</li>
</ul>
Berkshire picked up an identical 5% stake in each of these companies and Buffett wrote to the CEOs of the companies at that time that he would never buy more than 9.9% in each without their consent.
Since Berkshire&rsquo;s purchases, the dividends of these companies have, on average, gone up by about 70%, he noted.
The investment guru also said Berkshire now owns 7.4% of each of these companies. He also said during his Japanese visit, he met with each of these companies over the past two days.
Buffett said these stocks are long-term bets. &ldquo;We&#39;ll be in these stocks 10-20 years,&rdquo; he said.
Read Next:&nbsp;<a href="https://www.benzinga.com/trading-ideas/long-ideas/23/03/31505925/did-warren-buffett-miss-tesla-train-at-bargain-200m-valuation-elon-musk-reminds-investme" target="_blank">Did Warren Buffett Miss Tesla Train At Bargain $200M Valuation? Elon Musk Reminds Investment Guru Of Lost Opportunity</a>
Image generated using artificial intelligence on Midjourney
&nbsp;

Long Ideas

BRKA

Warren Buffett Reveals 'Confounding' Fact That Made Him Invest In Japan's Top 5 Trading Firms: 'Better Than I Thought'

Shares of the Nikkei 225, the largest equity index in Japan, increased more than 1% after Berkshire Hathaway Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bkr-a#NYSE">BKR-A</a>) CEO Warren Buffett stated in a media interview with Nikkei press that he plans to increase his exposure to <a href="https://www.benzinga.com/markets/asia/23/04/31740469/warren-buffett-very-proud-of-japanese-investments-5-tokyo-listed-stocks-berkshire-has-stakes-in" target="_blank">Japanese trading houses</a>.&nbsp;
After revealing in August 2020&nbsp;it had purchased somewhat more than 5% of Japan&#39;s top five trading houses &mdash;&nbsp;Itochu Corp. (OTC:&nbsp;<a href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>), Mitsubishi Corp.&nbsp;(OTC:&nbsp;<a href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>), Mitsui &amp; Co. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mitsy#OTC">MITSY</a>), Sumitomo Corp. (OTC:&nbsp;<a href="https://www.benzinga.com/stock/SSUMY#OTC">SSUMY</a>)&nbsp;and Marubeni Corp. (OTC:&nbsp;<a href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>) &mdash; Buffett expanded its interests in Japanese stocks in November.
Sogo sosha, or Japanese trading corporations, are diversified conglomerates that typically trade at low or cheap market valuations.
Buffett&#39;s favorite Japanese equities trade at single-digit future P/E ratios, giving them an appealing value proposition that has likely piqued the interest of the &quot;Oracle of Omaha,&quot; who is now in Japan on a business trip.
<img alt="" src="https://www.benzinga.com/files/u1363475/koyfin_20230411_013801213.png" style="height:500px; width:968px" />
Itochu CEO Masahiro&nbsp;Okafuji told Nikkei that he is &quot;confident&quot;&nbsp;Buffett thinks the Japanese market justifies more investment. The iShares MSCI Japan Index Fund (ARCA: EWJ) is up 4.8% year-to-date.&nbsp;
Market Reactions To Buffett&rsquo;s Interview: Shares of the five Japanese trading houses rallied more than 2% at the close of the market session in Tokyo.
Mitsubishi Corp. (8058) gained 2%, Mitsui &amp; Co. (8031) was up by 2.7%, Itochu Corp. (8001) by 3%, Sumitomo Corp. (8053) by 3.2% and Marubeni Corp. (8002) by 4.6%.
<img alt="" src="https://www.benzinga.com/files/u1363475/8001_2023-04-11_13-21-48_9c642.png" style="height:500px; width:100%" />
Read Also:&nbsp;<a href="https://www.benzinga.com/news/23/04/31731723/5-of-the-craziest-things-warren-buffett-has-spent-his-money-on" target="_blank">5 Of The Craziest Things Warren Buffett Has Spent His Money On</a>&nbsp;
Photos: Shutterstock

Buffett Loves Japan: Nikkei Stocks Rally After Berkshire Hathaway CEO Says He Raises Bets in Five Japanese Trading Houses

Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/general/social-media/23/04/31737585/twitter-is-officially-defunct-as-elon-musk-pursues-superapp-goal" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Twitter Inc Is Officially Defunct As Elon Musk Pursues&#39; Superapp&#39; Goal</a>
<ul>
<li>Twitter Inc,&nbsp;the parent company of the namesake social media platform, has ceased to exist, and it has now been merged into&nbsp;X Corp.,&nbsp;court filings show.</li>
<li>&#39;Chief Twit&#39;&nbsp;Elon Musk&nbsp;also appeared to acknowledge the change early on Tuesday by tweeting out &quot;X.&quot;</li>
<li>The development came to light in a court filing of Twitter&#39;s corporate disclosure statement in connection with a lawsuit brought about by right-wing activist Laura Loomer. She is fighting against Twitter banning her account in 2019.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31738895/hyundais-electric-vision-18b-investment-paves-way-for-companys-commitment-to-electric-cars" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Hyundai&#39;s Electric Vision: $18B Investment Paves Way for Company&#39;s Commitment To Electric Cars</a>
<ul>
<li>Hyundai Motor Company&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>) plans to invest 24 trillion won ($18.2 billion) by 2030 to boost electrification.</li>
<li>The group, including Hyundai Motor, Kia, and Genesis electric models, expects to expand the annual EV production in Korea to 1.51 million units and global volume to 3.64 million units by 2030.</li>
<li>The investment will be used to upgrade Korea&#39;s EV ecosystem and to promote domestic EV production, R&amp;D, infrastructure, and related industries.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/04/31741627/mixed-results-for-moderna-on-vaccine-day-influenza-vaccine-candidate-testing-to-continue-despite-" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Moderna&#39;s Vaccine Day: Influenza Vaccine Candidate Testing To Continue As It Misses&#39; Early Success&#39; Threshold</a>
<ul>
<li>Moderna Inc&#39;s&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/mrna#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MRNA</a>) first vaccine candidate against influenza is mRNA-1010, which is being developed in adults.</li>
<li>The independent Data and Safety Monitoring Board (DSMB) has completed the first interim efficacy analysis for the second Phase 3 trial (P302) conducted in the Northern Hemisphere to evaluate the safety and non-inferior efficacy compared to a licensed flu vaccine.</li>
<li>The DSMB said mRNA-1010 did not meet the statistical threshold to declare early success.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/23/04/31740193/disclosure-violations-cost-goldman-sachs-15m-as-settlement-in-swap-business" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Disclosure Violations Cost Goldman Sachs $15M as Settlement in Swap Business</a>
<ul>
<li>Goldman Sachs Group Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gs#NYSE">GS</a>) agreed to pay $15 million to settle U.S. Commodity Futures Trading Commission (CFTC) charges that it failed to make proper disclosures and communicate fairly to swap customers.</li>
<li>In 2015 and 2016, Goldman opportunistically solicited or agreed to enter into same-day swaps only on days and at times that were financially advantageous to Goldman and disadvantageous to its clients.&nbsp;</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/large-cap/23/04/31739764/newmont-raises-bid-for-newcrest-takeover-offers-46-premium-to-feb-3-price-at-19-5b-valuation" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Newmont Raises Bid For Newcrest Takeover, Offers 46% Premium to Feb 3 Price At $19.5B Valuation</a>
<ul>
<li>Newmont Corporation&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nem#NYSE">NEM</a>) submitted a final revised takeover offer to&nbsp;Newcrest Mining Limited&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/ncmgy#OTC">NCMGY</a>), bidding a 46% premium to the closing price of Newcrest shares as on Feb 3, 2023.&nbsp;</li>
<li>The latest offer values Newcrest Mining at $19.5 billion, making it the largest-ever M&amp;A deal in the gold-mining industry.</li>
<li>Newcrest is Australia&#39;s largest gold miner, which had rejected the previous offer from Newmont at a $17.5 billion valuation. The company initially proposed the acquisition in February 2023.</li>
</ul>
&nbsp;
CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31737812/chatgpt-rivalry-gets-bigger-alibaba-plans-to-integrate-chatbot-across-products-at-low-cost" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ChatGPT Rivalry Gets Bigger: Alibaba Plans to Integrate Chatbot Across Products at Low Cost</a>
<ul>
<li>On Tuesday,&nbsp;Alibaba Group Holding Limited&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>) cloud computing unit shared plans to launch its&nbsp;ChatGPT&nbsp;counterpart Tongyi Qianwen.</li>
<li>Alibaba Cloud initially proposed to deploy Tongyi Qianwen with Chinese and English language capabilities on Slack counterpart DingTalk, Alibaba&#39;s workplace communication software, and Tmall Genie, a provider of smart home appliances.</li>
</ul>
&nbsp;
Nikkei
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/asia/23/04/31740469/warren-buffett-very-proud-of-japanese-investments-5-tokyo-listed-stocks-berkshire-has-stakes-in" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Warren Buffett &#39;Very Proud&#39; Of Japanese Investments: 5 Tokyo-Listed Stocks Berkshire Has Stakes In</a>
<ul>
<li>Billionaire investor&nbsp;Warren Buffett&nbsp;has set his sights on the far east to put his money to work.</li>
<li>Buffett, who runs the investment holding company&nbsp;Berkshire Hathaway&nbsp;(NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/brk-a#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BRK-A</a>) (NYSE:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/brk-b#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">BRK-B</a>), is &quot;very proud&quot; of his investments in Japanese stocks, the billionaire told in an interview with Nikkei.</li>
<li>Berkshire, in Aug. 2020, picked up more than 5% stake in each of Japan&#39;s five trading houses, namely&nbsp;Itochu Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/itocy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">ITOCY</a>),&nbsp;Mitsubishi Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/msbhf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MSBHF</a>),&nbsp;Mitsui &amp; Co., Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/mitsy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MITSY</a>),&nbsp;Sumitomo Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ssumy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">SSUMY</a>), and&nbsp;Marubeni Corp.&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/maruy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MARUY</a>).</li>
</ul>
&nbsp;
Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31738877/amc-britain-rival-cineworld-files-restructuring-plan-in-bankruptcy-court-shareholders-to-be-wiped-ou" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">AMC Britain Rival Cineworld Files Restructuring Plan in Bankruptcy Court, Shareholders to be Wiped Out</a>
<ul>
<li>On Tuesday,&nbsp;Cineworld Group PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/cnnwq#OTC">CNNWQ</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cnwgq#OTC">CNWGQ</a>) said it had filed a reorganization plan in a Texas bankruptcy court to dissolve existing shareholdings effectively.</li>
<li>The filing formalizes the cinema chain operator&#39;s Apr 3 deal that includes plans to cut debt by about $4.53 billion and raise $2.26 billion to emerge from bankruptcy.</li>
<li>Cineworld, which expects to emerge from Chapter 11 in the first half of 2023, said any transaction resulting from the marketing process might delay emergence beyond that point.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31738440/boeing-aims-to-reach-pre-crisis-737-max-production-rates-in-2025-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Boeing Aims To Reach Pre-Crisis 737 MAX Production Rates In 2025</a>
<ul>
<li>Boeing Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>) expects its 737 MAX jet to return to its 2019 production rate of 52 per month in 2025.</li>
<li>The aircraft maker&#39;s bestselling jet demand nosedived following two deadly crashes and the COVID-19 pandemic.</li>
<li>Boeing currently builds 31 737 MAX jets per month. The company aims to increase monthly MAX production to 38 in June, 42 by January 2024, and 47 by June 2024.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/23/04/31739346/drugmakers-stand-up-for-reproductive-rights-pfizer-and-biogen-among-300-condemning-abortion-pill-" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Drugmakers Stand Up for Reproductive Rights: Pfizer and Biogen Among 300 Condemning Abortion Pill Approval Suspension</a>
<ul>
<li>Last week Friday, a U.S. judge suspended the FDA&#39;s approval of mifepristone, effectively banning sales. Executives from over 300 companies, including&nbsp;Pfizer Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) and&nbsp;Biogen Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/biib#NASDAQ">BIIB</a>), signed an open letter calling to reverse a federal judge&#39;s decision.</li>
<li>The abortion pill has been available since 2000. The letter&#39;s authors wrote that the ruling ignores scientific evidence and legal precedent.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31739074/clear-skies-ahead-chinese-airlines-resume-boeing-737-max-operations-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Clear Skies Ahead: Chinese Airlines Resume Boeing 737 MAX Operations</a>
<ul>
<li>Boeing&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ba#NYSE">BA</a>) reportedly disclosed that 11 Chinese airlines had resumed 737 MAX operations as of Apr 10, a positive indication of its efforts to rebuild its business in the world&#39;s second-largest aviation market.</li>
<li>The number of 737 MAX returning to commercial service reached 43, accounting for approximately 45% of the Chinese 737 MAX fleet.</li>
<li>Boeing didn&#39;t name the airlines, but Hainan Airlines Holding Co Ltd, Fuzhou Airlines, Lucky Air, and Air China have all flown the jets in the months.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/04/31740222/mitsubishi-heavy-industries-pockets-2-8b-missile-contracts-from-japan-report" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Mitsubishi Heavy Industries Pockets $2.8B Missile Contracts From Japan</a>
<ul>
<li>Mitsubishi Heavy Industries Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mhvyf#OTC">MHVYF</a>) has reportedly secured contracts worth $2.84 billion (378 billion yen) from Japan.</li>
<li>Under the contract, Mitsubishi Heavy will develop and build a new missile force to deter China from using military force in East Asia.</li>
<li>The four contracts include land, sea, and air-launched missiles and a hypersonic ballistic warhead that it wants to begin deploying in 2026, the report quoted Japan&#39;s Ministry of Defense.</li>
</ul>
&nbsp;
Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/government/23/04/31738465/antitrust-penalty-south-korea-hits-google-with-32m-fine-for-anti-competitive-mobile-app-behavior" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Antitrust Penalty: South Korea Hits Google with $32M Fine for Anti-Competitive Mobile App Behavior</a>
<ul>
<li>South Korea penalized&nbsp;Alphabet Inc&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>)&nbsp;Google&nbsp;42.1 billion won ($32 million) for exploiting its influence in the mobile app market to drive away a local rival.</li>
<li>Google tried to block Korean platform rival&nbsp;One Store Co&#39;s&nbsp;growth, Bloomberg cites&nbsp;Korea&#39;s Fair Trade Commission&#39;s&nbsp;statement.</li>
<li>Google has denied offering benefits to developers who put their apps only on Google Play.</li>
</ul>
Photo by Ljupco Smokovski via Shutterstock and Wikimedia Commons

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Twitter Inc Is Officially Defunct, Alibaba Plans to Integrate ChatGPT Like Chatbot Across Products, Moderna's Flu Shot Study Misses 'Early Success' Criteria: Today's Top Stories

Billionaire investor <a href="https://www.benzinga.com/news/23/04/31731723/5-of-the-craziest-things-warren-buffett-has-spent-his-money-on">Warren Buffett </a>has set his sights on the far east to put his money to work.
What Happened: &nbsp;Buffett, who runs the investment holding company, Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), is "very proud" of his investments in Japanese stocks, the billionaire <a href="https://asia.nikkei.com/Editor-s-Picks/Interview/Warren-Buffett-says-he-intends-to-add-to-Japanese-stock-holdings2">told</a> in an interview with Nikkei.
Berkshire in Aug. 2020 picked up more than 5% stake in each of Japan's five trading houses, namely Itochu Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>), Mitsubishi Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>), Mitsui &amp; Co., Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSY#OTC">MITSY</a>), Sumitomo Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSUMY#OTC">SSUMY</a>) and Marubeni Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>), the report said.
He then went on to augment the stakes in Nov. 2022, it added.
The "Oracle of Omaha" reportedly said he would meet with these companies this week to have a discussion about their businesses and emphasize his support.
See Also: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>
Why It's Important: Buffett is a proponent of value investment – a strategy of picking up businesses at a discount to their intrinsic value. Berkshire's top holdings include Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), among others. The company has recently been <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/03/31523799/how-much-1-000-invested-in-occidental-when-warren-buffett-bought-the-stock-at-onset-of-r">building a position in the upstream oil and gas company Occidental Petroleum Corp </a>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>).
Buffett's Berkshire has also invested in other Asian companies such as BYD Company Limited (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>).
Read Next: <a href="https://www.benzinga.com/news/23/02/31060887/warren-buffett-says-in-58-years-of-managing-berkshire-his-decisions-no-better-than-so-so-heres-his-s">Warren Buffett Says In 58 Years Of Managing Berkshire His Decisions &#8216;No Better Than So-So&#8217;: Here&#8217;s His &#8216;Secret Sauce&#8217;</a>

AAPL

BYDDY

Warren Buffett 'Very Proud' Of Japanese Investments: 5 Tokyo-Listed Stocks Berkshire Has Stakes In

<ul>
<li>Aramark&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/armk#NYSE">ARMK</a>) has&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/02/b30683043/aramark-to-sell-ownership-stake-in-aim-services" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">agreed to sell its 50% equity</a>&nbsp;stake in AIM Services to&nbsp;Mitsui &amp; Co., Ltd.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mitsy#OTC">MITSY</a>)&nbsp;for $535 million.</li>
<li>The company will use the proceeds from the transaction toward debt repayment.</li>
<li>AIM Services was established as a joint venture between Aramark and Mitsui Group companies in 1976 to provide food services to clients across various business sectors in Japan.</li>
<li>&ldquo;Monetizing this non-controlling interest will enhance operating focus, strengthen our balance sheet through accelerated debt repayment, and will be accretive to earnings per share,&rdquo; said John Zillmer, Aramark&#39;s CEO.</li>
<li>The transaction is anticipated to close at the beginning of Aramark&#39;s Q3.</li>
<li>The&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/11/b29723219/aramark-reports-fourth-quarter-and-full-year-fiscal-2022-results" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">company held $329.5 million in cash and equivalents</a>&nbsp;as of Sept. 30, 2022.</li>
<li>Aramark is scheduled to host its fiscal first-quarter earnings call on Feb. 7, 2023, at 8:30 a.m. ET.</li>
<li>Price Action: ARMK shares closed lower by 0.43% at $44.34 on Wednesday.</li>
</ul>

ARMK

Aramark Divests Ownership Stake In AIM Services For $535M

<ul>
<li>Penske Truck Leasing&nbsp;<a class="editor-rtfLink" href="https://www.prnewswire.com/news-releases/penske-adds-ford-e-transit-cargo-vans-to-its-rental-and-leasing-fleet-301526821.html" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">has ordered 750 all-electric</a>&nbsp;Ford Motor Co&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) E-transit cargo vans. The financial terms were not disclosed.</li>
<li>Penske Truck Leasing is owned by Penske Corporation,&nbsp;Penske Automotive Group Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pag#NYSE">PAG</a>), and&nbsp;Mitsui &amp; Co Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mitsy#OTC">MITSY</a>).</li>
<li>The company will take delivery of its first several vehicles in the next several weeks.</li>
<li>Penske&#39;s first Ford E-Transit vehicles will be made available in Southern California, with other locations around the U.S. following suit later in the year.</li>
<li>The Ford E-Transit all-electric cargo van has an estimated range of 126 miles.</li>
<li>&quot;We&#39;re excited to help bring these new vehicles to market as both a rental and full-service lease option for our customers,&quot; said Art Vallely, president of Penske Truck Leasing.</li>
<li>Price Action:&nbsp;PAG shares are trading lower by 0.16% at $96.40 on the last check Monday.</li>
</ul>

Contracts

Penske Truck Leasing Orders 750 All-Electric Ford E-Transit Cargo Vans

<ul>
<li>Thorne HealthTech Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/thrn#NASDAQ">THRN</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/01/n25036891/thorne-healthtech-and-mitsui-announce-thorne-asia-joint-venture" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">has agreed to form a joint venture&nbsp;</a>with&nbsp;Mitsui &amp; Co Ltd&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mitsy#OTC">MITSY</a>) called Thorne HealthTech Asia Pte. Ltd. (Thorne Asia).</li>
<li>The JV is expected to expand access to Thorne&#39;s solutions and personalized approaches to address health and wellbeing across Asia.&nbsp;</li>
<li>Thorne Asia JV will promote and provide Thorne&#39;s diagnostics, analytics, and supplement offerings online and through medical and retail providers and use Mitsui&#39;s retail expertise and relationships in the region.</li>
<li>&quot;By partnering with Mitsui, we now have access to an extensive in-market business network that will enable us to expand Thorne&#39;s innovative products and services,&quot; said Thorne HealthTech CEO Paul Jacobson.</li>
<li>Price Action:&nbsp;THRN shares are trading lower by 1.33% at $6.33 on the last check Thursday.</li>
</ul>

Small Cap

THRN

Thorne HealthTech Joins Hand With Mitsui To Form Thorne Asia JV

<ul>
<li>PureCycle Technologies Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pct#NASDAQ">PCT</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/09/n22911461/purecycle-announces-partnership-with-mitsui-to-develop-ultra-pure-recycled-polypropylene-plant-in-" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">signed a memorandum of understanding&nbsp;</a>(MoU) with&nbsp;Mitsui &amp; Co., Ltd.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/mitsy#OTC">MITSY</a>) to develop and operate a recycling facility in Japan to transform polypropylene (PP) waste into Ultra-Pure Recycled Polypropylene (UPRP).</li>
<li>Through this new joint project with PureCycle, Mitsui aims to reduce plastic waste and establish a circular economy in Japan.</li>
<li>Mitsui will help facilitate the pre-construction, on-the-ground operations and be an integral part of PureCycle&#39;s work in Japan.</li>
<li>Price Action:&nbsp;PCT shares closed higher by 3.04% at $12.90 on Monday.</li>
</ul>

PureCycle Partners With Mitsui To Develop Recycled Polypropylene Plant In Japan

Warren Buffett-led Berkshire Hathaway Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brk-a#NYSE">BRK-A</a>) (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/brk-b#NYSE">BRK-B</a>) late Sunday announced it has purchased passive stakes in five of the largest Japanese trading companies.
What Happened: The trading companies, referred to as &ldquo;Sogo Shosha&rdquo; in Japan, include Itochu Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/itocy#OTC">ITOCY</a>), Marubeni Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/maruy#OTC">MARUY</a>), Mitsubishi Corporation (OTC: <a class="ticker" href="https://www.benzinga.com/stock/msbhy#OTC">MSBHY</a>), Mitsui &amp; Co. Ltd. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mitsy#OTC">MITSY</a>), and Sumitomo Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssumf#OTC">SSUMF</a>).
Berkshire said it has acquired a 5% stake in each of the five companies. The Omaha-based company pledged that, while it intended to hold these investments long term, it wouldn&rsquo;t have ownership above 9.99% in any of the Sogo Shosha at any point in the future.
&ldquo;The five major trading companies have many joint ventures throughout the world and are likely to have more of these partnerships,&rdquo;&nbsp;Buffett said in a statement.
&ldquo;I hope that in the future there may be opportunities of mutual benefit.&rdquo;
Why It Matters: According to data compiled by <a href="">Bloomberg</a>, the investments, made through subsidiary National Indemnity, are worth above $6 billion.
This also marks a rare push away from the United States companies for Buffett, who famously <a href="">said</a> that &ldquo;never bet against America,&rdquo; as earlier <a href="">noted</a> by analyst Quoth the Raven.
Buffett <a href="">turned 90 years old</a> on Sunday, and counts Apple Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) and Bank of America Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bac#NYSE">BAC</a>) as <a href="">some of his biggest</a> holdings.
Price Action: Berkshire Class A shares closed 0.5% higher at $327,431 on Friday, and Class B shares closed 0.77% higher at $218.55.
Photo courtesy: freeimage4life via Flickr

BRK.A

MSBHY

Warren Buffett's Berkshire Buys 5% Stake Each In Japan's 5 Largest 'Sogo Shosha'

<h3>Companies Reporting Before The Bell</h3>
&bull; Chevron Inc. (NYSE:<a class="ticker" href="/stock/CVX#NYSE">CVX</a>) is expected to report quarterly loss at $0.92 per share on revenue of $22.10 billion.
&bull; Weyerhaeuser Inc. (NYSE:<a class="ticker" href="/stock/WY#NYSE">WY</a>) is estimated to report quarterly earnings at $0.00 per share on revenue of $1.42 billion.
&bull; Goodyear Tire &amp; Rubber Inc. (NASDAQ:<a class="ticker" href="/stock/GT#NASDAQ">GT</a>) is estimated to report quarterly loss at $2.07 per share on revenue of $1.87 billion.
&bull; American Axle &amp; Mfg Hldgs Inc. (NYSE:<a class="ticker" href="/stock/AXL#NYSE">AXL</a>) is expected to report quarterly loss at $1.99 per share on revenue of $440.05 million.
&bull; Booz Allen Hamilton Inc. (NYSE:<a class="ticker" href="/stock/BAH#NYSE">BAH</a>) is expected to report quarterly earnings at $0.86 per share on revenue of $1.97 billion.
&bull; Illinois Tool Works Inc. (NYSE:<a class="ticker" href="/stock/ITW#NYSE">ITW</a>) is expected to report quarterly earnings at $0.70 per share on revenue of $2.33 billion.
&bull; Caterpillar Inc. (NYSE:<a class="ticker" href="/stock/CAT#NYSE">CAT</a>) is expected to report quarterly earnings at $0.64 per share on revenue of $9.38 billion.
&bull; Charter Communications Inc. (NASDAQ:<a class="ticker" href="/stock/CHTR#NASDAQ">CHTR</a>) is expected to report quarterly earnings at $2.46 per share on revenue of $11.60 billion.
&bull; Johnson Controls Intl Inc. (NYSE:<a class="ticker" href="/stock/JCI#NYSE">JCI</a>) is expected to report quarterly earnings at $0.48 per share on revenue of $5.13 billion.
&bull; Church &amp; Dwight Co Inc. (NYSE:<a class="ticker" href="/stock/CHD#NYSE">CHD</a>) is expected to report quarterly earnings at $0.63 per share on revenue of $1.15 billion.
&bull; Fiat Chrysler Automobiles Inc. (NYSE:<a class="ticker" href="/stock/FCAU#NYSE">FCAU</a>) is expected to report quarterly loss at $1.35 per share on revenue of $17.34 billion.
&bull; Exxon Mobil Inc. (NYSE:<a class="ticker" href="/stock/XOM#NYSE">XOM</a>) is expected to report quarterly loss at $0.62 per share on revenue of $38.16 billion.
&bull; Colgate-Palmolive Inc. (NYSE:<a class="ticker" href="/stock/CL#NYSE">CL</a>) is expected to report quarterly earnings at $0.69 per share on revenue of $3.78 billion.
&bull; Arbor Realty Trust Inc. (NYSE:<a class="ticker" href="/stock/ABR#NYSE">ABR</a>) is expected to report quarterly earnings at $0.27 per share on revenue of $34.50 million.
&bull; Associated Capital Group Inc. (NYSE:<a class="ticker" href="/stock/AC#NYSE">AC</a>) is expected to report earnings for its second quarter.
&bull; AdvanSix Inc. (NYSE:<a class="ticker" href="/stock/ASIX#NYSE">ASIX</a>) is estimated to report quarterly earnings at $0.31 per share on revenue of $281.30 million.
&bull; Astronics Inc. (NASDAQ:<a class="ticker" href="/stock/ATRO#NASDAQ">ATRO</a>) is expected to report quarterly loss at $0.31 per share on revenue of $110.03 million.
&bull; Balchem Inc. (NASDAQ:<a class="ticker" href="/stock/BCPC#NASDAQ">BCPC</a>) is expected to report quarterly earnings at $0.56 per share on revenue of $161.35 million.
&bull; Bel Fuse Inc. (NASDAQ:<a class="ticker" href="/stock/BELFB#NASDAQ">BELFB</a>) is expected to report quarterly loss at $0.30 per share on revenue of $108.25 million.
&bull; Phillips 66 Inc. (NYSE:<a class="ticker" href="/stock/PSX#NYSE">PSX</a>) is expected to report quarterly loss at $0.92 per share on revenue of $15.37 billion.
&bull; Berry Global Group Inc. (NYSE:<a class="ticker" href="/stock/BERY#NYSE">BERY</a>) is expected to report quarterly earnings at $1.15 per share on revenue of $2.98 billion.
&bull; Cboe Global Markets, Inc. Common Stock Inc. (BATS:<a class="ticker" href="/stock/CBOE#BATS">CBOE</a>) is expected to report quarterly earnings at $1.23 per share on revenue of $296.92 million. 
&bull; Capital Product Partners Inc. (NASDAQ:<a class="ticker" href="/stock/CPLP#NASDAQ">CPLP</a>) is estimated to report quarterly earnings at $0.50 per share on revenue of $35.69 million.
&bull; CTS Inc. (NYSE:<a class="ticker" href="/stock/CTS#NYSE">CTS</a>) is expected to report quarterly earnings at $0.07 per share on revenue of $89.02 million. 
&bull; Dominion Energy Inc. (NYSE:<a class="ticker" href="/stock/D#NYSE">D</a>) is estimated to report quarterly earnings at $0.76 per share on revenue of $3.47 billion.
&bull; DSV Panalpina Inc. (OTC:<a class="ticker" href="/stock/DSDVY#OTC">DSDVY</a>) is expected to report earnings for it&#39;s second quarter.
&bull; Erste Group Bank Inc. (OTC:<a class="ticker" href="/stock/EBKDY#OTC">EBKDY</a>) is expected to report earnings for it&#39;s second quarter.
&bull; Embraer Inc. (NYSE:<a class="ticker" href="/stock/ERJ#NYSE">ERJ</a>) is estimated to report quarterly loss at $0.44 per share on revenue of $613.05 million. 
&bull; GlycoMimetics Inc. (NASDAQ:<a class="ticker" href="/stock/GLYC#NASDAQ">GLYC</a>) is expected to report earnings for its second quarter.
&bull; Gol Intelligent Airlines Inc. (NYSE:<a class="ticker" href="/stock/GOL#NYSE">GOL</a>) is estimated to report quarterly loss at $0.89 per share on revenue of $132.97 million. 
&bull; Hill-Rom Holdings Inc. (NYSE:<a class="ticker" href="/stock/HRC#NYSE">HRC</a>) is estimated to report quarterly earnings at $1.46 per share on revenue of $749.39 million.
&bull; Intl Cons Airlines Group Inc. (OTC:<a class="ticker" href="/stock/ICAGY#OTC">ICAGY</a>) is estimated to report earnings for it&#39;s second quarter.
&bull; Imperial Oil Limited Common Stock Inc. (AMEX:<a class="ticker" href="/stock/IMO#AMEX">IMO</a>) is expected to report quarterly earnings at $0.40 per share on revenue of $9.24 billion.
&bull; Itau Corpbanca Inc. (NYSE:<a class="ticker" href="/stock/ITCB#NYSE">ITCB</a>) is estimated to report earnings for it&#39;s second quarter. 
&bull; KVH Industries Inc. (NASDAQ:<a class="ticker" href="/stock/KVHI#NASDAQ">KVHI</a>) is estimated to report quarterly loss at $0.37 per share on revenue of $32.05 million.
&bull; Lazard Inc. (NYSE:<a class="ticker" href="/stock/LAZ#NYSE">LAZ</a>) is expected to report quarterly earnings at $0.41 per share on revenue of $502.54 million.
&bull; L3Harris Technologies Inc. (NYSE:<a class="ticker" href="/stock/LHX#NYSE">LHX</a>) is expected to report quarterly earnings at $2.62 per share on revenue of $4.47 billion.
&bull; LyondellBasell Industries Inc. (NYSE:<a class="ticker" href="/stock/LYB#NYSE">LYB</a>) is estimated to report quarterly earnings at $0.65 per share on revenue of $5.66 billion.
&bull; Merck &amp; Co Inc. (NYSE:<a class="ticker" href="/stock/MRK#NYSE">MRK</a>) is estimated to report quarterly earnings at $1.04 per share on revenue of $10.39 billion.
&bull; Nokia Inc. (NYSE:<a class="ticker" href="/stock/NOK#NYSE">NOK</a>) is estimated to report quarterly earnings at $0.03 per share on revenue of $5.70 billion.
&bull; nVent Electric Inc. (NYSE:<a class="ticker" href="/stock/NVT#NYSE">NVT</a>) is estimated to report quarterly earnings at $0.24 per share on revenue of $436.16 million.
&bull; Newell Brands Inc. (NASDAQ:<a class="ticker" href="/stock/NWL#NASDAQ">NWL</a>) is estimated to report quarterly earnings at $0.18 per share on revenue of $2.03 billion.
&bull; OFS Capital Inc. (NASDAQ:<a class="ticker" href="/stock/OFS#NASDAQ">OFS</a>) is expected to report quarterly earnings at $0.20 per share on revenue of $11.67 million.
&bull; O2Micro Intl Inc. (NASDAQ:<a class="ticker" href="/stock/OIIM#NASDAQ">OIIM</a>) is expected to report quarterly loss at $0.06 per share on revenue of $17.00 million.
&bull; Oxford Lane Capital Inc. (NASDAQ:<a class="ticker" href="/stock/OXLC#NASDAQ">OXLC</a>) is expected to report earnings for it&#39;s first quarter.
&bull; PBF Energy Inc. (NYSE:<a class="ticker" href="/stock/PBF#NYSE">PBF</a>) is expected to report quarterly loss at $2.98 per share on revenue of $3.28 billion.
&bull; PBF Logistics Inc. (NYSE:<a class="ticker" href="/stock/PBFX#NYSE">PBFX</a>) is estimated to report quarterly earnings at $0.48 per share on revenue of $89.45 million.
&bull; Public Service Enterprise Inc. (NYSE:<a class="ticker" href="/stock/PEG#NYSE">PEG</a>) is estimated to report quarterly earnings at $0.60 per share on revenue of $2.30 billion.
&bull; Pinterest Inc. (NYSE:<a class="ticker" href="/stock/PINS#NYSE">PINS</a>) is estimated to report quarterly loss at $0.13 per share on revenue of $251.24 million.
&bull; Piper Sandler Inc. (NYSE:<a class="ticker" href="/stock/PIPR#NYSE">PIPR</a>) is estimated to report quarterly earnings at $1.18 per share on revenue of $237.04 million.
&bull; PNM Resources Inc. (NYSE:<a class="ticker" href="/stock/PNM#NYSE">PNM</a>) is estimated to report quarterly earnings at $0.49 per share on revenue of $345.12 million.
&bull; Portland General Electric Inc. (NYSE:<a class="ticker" href="/stock/POR#NYSE">POR</a>) is estimated to report quarterly earnings at $0.33 per share on revenue of $455.84 million. 
&bull; Phillips 66 Partners Inc. (NYSE:<a class="ticker" href="/stock/PSXP#NYSE">PSXP</a>) is expected to report quarterly earnings at $0.74 per share on revenue of $365.82 million.
&bull; NatWest Group PLC ADR Inc. (NYSE:<a class="ticker" href="/stock/RBS#NYSE">RBS</a>) is expected to report earnings for it&#39;s second quarter.
&bull; Stellus Capital Inv Inc. (NYSE:<a class="ticker" href="/stock/SCM#NYSE">SCM</a>) is estimated to report quarterly earnings at $0.24 per share on revenue of $14.53 million.
&bull; Shell Midstream Partners Inc. (NYSE:<a class="ticker" href="/stock/SHLX#NYSE">SHLX</a>) is estimated to report quarterly earnings at $0.33 per share on revenue of $136.97 million.
&bull; US Silica Holdings Inc. (NYSE:<a class="ticker" href="/stock/SLCA#NYSE">SLCA</a>) is estimated to report quarterly loss at $0.51 per share on revenue of $143.57 million.
&bull; Snap-on Inc. (NYSE:<a class="ticker" href="/stock/SNA#NYSE">SNA</a>) is estimated to report quarterly earnings at $1.83 per share on revenue of $704.97 million.
&bull; Spirit Realty Cap Inc. (NYSE:<a class="ticker" href="/stock/SRC#NYSE">SRC</a>) is expected to report quarterly earnings at $0.22 per share on revenue of $113.88 million.
&bull; TransAlta Inc. (NYSE:<a class="ticker" href="/stock/TAC#NYSE">TAC</a>) is expected to report earnings for it&#39;s second quarter.
&bull; West Japan Railway Inc. (OTC:<a class="ticker" href="/stock/WJRYY#OTC">WJRYY</a>) is expected to report earnings for it&#39;s first quarter.
&bull; W.P. Carey Inc. (NYSE:<a class="ticker" href="/stock/WPC#NYSE">WPC</a>) is expected to report quarterly earnings at $0.45 per share on revenue of $288.53 million.
&bull; AbbVie Inc. (NYSE:<a class="ticker" href="/stock/ABBV#NYSE">ABBV</a>) is expected to report quarterly earnings at $2.19 per share on revenue of $10.08 billion.
&bull; Bel Fuse Inc. (NASDAQ:<a class="ticker" href="/stock/BELFA#NASDAQ">BELFA</a>) is expected to report quarterly loss at $0.23 per share on revenue of $110.00 million. 
&bull; Daiwa Securities Group Inc. (OTC:<a class="ticker" href="/stock/DSEEY#OTC">DSEEY</a>) is expected to report earnings for it&#39;s first quarter.
&bull; IDEXX Laboratories Inc. (NASDAQ:<a class="ticker" href="/stock/IDXX#NASDAQ">IDXX</a>) is estimated to report quarterly earnings at $1.16 per share on revenue of $589.98 million.
&bull; Mazda Motor Inc. (OTC:<a class="ticker" href="/stock/MZDAY#OTC">MZDAY</a>) is estimated to report earnings for its first quarter.
&bull; Ruth&#39;s Hospitality Group Inc. (NASDAQ:<a class="ticker" href="/stock/RUTH#NASDAQ">RUTH</a>) is estimated to report quarterly loss at $0.53 per share on revenue of $28.51 million.
&bull; Spectrum Brands Holdings Inc. (NYSE:<a class="ticker" href="/stock/SPB#NYSE">SPB</a>) is estimated to report quarterly earnings at $0.93 per share on revenue of $928.26 million.
&bull; WisdomTree Inv Inc. (NASDAQ:<a class="ticker" href="/stock/WETF#NASDAQ">WETF</a>) is expected to report quarterly earnings at $0.04 per share on revenue of $58.96 million.
&bull; Under Armour Inc. (NYSE:<a class="ticker" href="/stock/UA#NYSE">UA</a>) is estimated to report quarterly loss at $0.41 per share on revenue of $558.52 million.
&bull; VF Inc. (NYSE:<a class="ticker" href="/stock/VFC#NYSE">VFC</a>) is estimated to report quarterly loss at $0.67 per share on revenue of $981.63 million.
&bull; ITT Inc. (NYSE:<a class="ticker" href="/stock/ITT#NYSE">ITT</a>) is expected to report quarterly earnings at $0.38 per share on revenue of $516.61 million.
&bull; Aon Inc. (NYSE:<a class="ticker" href="/stock/AON#NYSE">AON</a>) is estimated to report quarterly earnings at $1.93 per share on revenue of $2.55 billion.
&bull; CBRE Group Inc. (NYSE:<a class="ticker" href="/stock/CBRE#NYSE">CBRE</a>) is estimated to report quarterly earnings at $0.42 per share on revenue of $5.04 billion.
&bull; Immunogen Inc. (NASDAQ:<a class="ticker" href="/stock/IMGN#NASDAQ">IMGN</a>) is estimated to report quarterly loss at $0.17 per share on revenue of $14.59 million. 
&bull; ASE Technology Holding Co Inc. (NYSE:<a class="ticker" href="/stock/ASX#NYSE">ASX</a>) is estimated to report quarterly earnings at $0.08 per share on revenue of $3.47 billion.
&bull; Takeda Pharmaceutical Inc. (NYSE:<a class="ticker" href="/stock/TAK#NYSE">TAK</a>) is estimated to report earnings for its first quarter. 
&nbsp;
<h3>Companies Reporting After The Bell</h3>
&bull; Mizuho Financial Group Inc. (NYSE:<a class="ticker" href="/stock/MFG#NYSE">MFG</a>) is expected to report earnings for its first quarter.
&bull; Unity Biotechnology Inc. (NASDAQ:<a class="ticker" href="/stock/UBX#NASDAQ">UBX</a>) is estimated to report earnings for its second quarter.

Pre-Market Outlook

ABBV

ASGLY

ASIX

ATRO

BCPC

BELFA

BELFB

BERY

CBOE

CBRE

CHTR

CJPRY

CPLP

DSDVY

DSEEY

DSNKY

EBKDY

Embraer-Empresa Brasileira De Aeronautica

FCAU

GLYC

Internationalnsolidated Airlines Group Sponsored American Depository Receipt

ICAGY

IDXX

IMGN

ITCB

KDDIY

KVHI

MRAAY

MZDAY

OIIM

OXLC

PBFX

PBSFY

PINS

PIPR

PSXP

RUTH

SEKEY

SHLX

SLCA

WETF

WJRYY

YAHOY

Earnings Scheduled For July 31, 2020

Mitsui & Co. Ltd. (MITSY) Q1 2025 Earnings Call Transcript

Tracking Warren Buffett's Berkshire Hathaway Portfolio - Q2 2024 Update

Buy These Stocks Before A Fed Rate Cut In September 2024

With the Japanese yen still trading at multi-decade lows, it has sparked interest in certain sectors, including technology, automotive, and manufacturing that could benefit from a weaker currency. Given these dynamics, quality Japanese stocks Sony Group (SONY), Mitsui & Co. (MITSY), and Honda Motor (HMC) could be worth watching closely. Read more... As the Japanese yen weakens against the U.S. dollar this year, the dynamics of Japan's stock market are shifting, creating unique opportunities for investors. So, let's look at fundamentally sound Japanese stocks Sony Group Corporation (<a href="https://stocknews.com/stock/SONY">SONY</a>), Mitsui &amp; Co., Ltd. (<a href="https://stocknews.com/stock/MITSY/">MITSY</a>), and Honda Motor Co., Ltd. (<a href="https://stocknews.com/stock/HMC">HMC</a>) that will likely gain from the current currency trends.
Japan's economy is dealing with a crisis surrounding the nation's currency, the yen. The currency's exchange rate has been witnessing a continued slide this year, toughing a <a href="https://www.reuters.com/markets/currencies/dollar-defensive-amid-lower-yields-yen-hovers-near-38-year-trough-2024-07-03/">38-year low</a> of around $161 to the U.S. dollar on July 3. However, the yen's downtrend has reversed lately, after the Bank of Japan's July 31 decision to increase interest rates.
The Japanese yen <a href="https://tradingeconomics.com/japan/currency">grew towards 146 per dollar</a>, rebounding from two-week lows and tracking a rally in Japanese government bond yields amid a hawkish stance on Bank of Japan monetary policy. Despite the recent surge in the yen, it is still trading at multi-decade lows, and investors must keep an eye on companies that stand to benefit from this trend.
Sectors such as manufacturing, automotive, and technology stand out as particularly attractive during this period, with companies in these industries likely to see enhanced earnings due to favorable exchange rates. Thus, Japanese stocks such as SONY, MITSY, and HMC could be ideal watchlist additions as they can capitalize on the current currency trends.
Let's discuss the fundamentals of the featured stocks in detail:
Sony Group Corporation (<a href="https://stocknews.com/stock/SONY">SONY</a>)
Based in Tokyo, Japan, SONY designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets globally. It distributes software titles and add-on content via digital networks; network services related to game, video, and music content; and home gaming consoles and peripheral devices.
On April 17, 2024, Sony Electronics, a subsidiary of Sony Corporation of America and an affiliate of SONY, introduced a new line of home audio products under the new BRAVIA Theater brand name. The BRAVIA Theater Line-up provides soundbars, a home theater system, and a neckband speaker for immersive cinematic sound.
These new product launches will offer an upgraded cinematic experience to consumers in their homes and will drive the company's profitability and growth.
SONY's trailing-12-month net income margin of 7.53% is 63.5% higher than the industry average of 4.61%. Likewise, the stock's trailing-12-month EBIT margin of 9.28% is 18.2% higher than the 7.85% industry average.
For the first quarter that ended June 30, 2024, SONY's sales and financial services revenue increased 1.6% year-over-year to ¥3.01 trillion ($20.53 billion). Its <a href="https://www.investopedia.com/terms/o/operatingincome.asp#:~:text=Operating%20income%20is%20an%20accounting,of%20goods%20sold%20(COGS).">operating income</a> was ¥279.11 billion ($1.90 billion), up 10.3% from the year-ago value. The company's adjusted EBITDA grew 13.5% year-over-year to ¥461.26 billion ($3.15 billion).
Further, the company's net income and earnings per share were ¥234.83 billion ($1.60 billion) and ¥189.43, increases of 8.2% and 7.8% from the prior year's period, respectively.
Analysts expect SONY's revenue for the second quarter (ending September 2024) to increase 10.6% year-over-year to $20.67 billion. The consensus EPS estimate of $1.39 for the current quarter indicates an improvement of 29.3% year-over-year. Also, the company has surpassed consensus EPS estimates in three of the trailing four quarters, which is impressive.
Shares of SONY have gained 13.7% over the past month and 18.5% over the past year to close the last trading session at $97.56.
SONY's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its bright prospects. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
SONY has an A grade for Sentiment. It is ranked #3 out of 12 stocks in the <a href="https://stocknews.com/category/entertainment-media-producers/">Entertainment – Media Producers</a> industry.
In addition to the POWR Ratings highlighted above, one can access SONY's ratings for Growth, Value, Momentum, Quality, and Stability <a href="https://stocknews.com/stock/SONY/">here</a>.
Mitsui &amp; Co., Ltd. (<a href="https://stocknews.com/stock/MITSY/">MITSY</a>)
MITSY operates as a global trading and investment company. The Japan-based company engages in the manufacture and sale of steel products; steel processing, maintenance, and recycling activities; development, and trading of mineral and metal resources; and upstream development, logistics, and trading of energy resources, such as natural gas/LNG, oil, and coal.
In terms of forward EV/Sales, MITSY is trading at 0.96x, 48.5% lower than the industry average of 1.85x. Also, the stock's forward Price/Sales multiple of 0.66 is 55.7% lower than the industry average of 1.48.
During the three-month period that ended June 30, 2024, MITSY's revenue increased 21.9% year-over-year to JPY 3.84 trillion ($26.19 billion). Its profit before income taxes rose 11.5% from the previous year's quarter to JPY 347.69 billion ($2.37 billion). Its profit for the period grew 9.2% year-over-year to JPY 282.35 billion ($1.93 billion).
In addition, the company's earnings per share attributable to owners of the parent were JPY 92.37, up 11.1% from the same period of 2023. Also, MITSY's total assets amounted to JPY 17.98 trillion ($122.62 billion) as of June 30, 2024, compared to JPY 16.90 trillion ($115.25 billion) as of March 31, 2024.
Street expects MITSY's revenue for the second quarter (ending September 2024) to increase 10.3% year-over-year to $23.50 billion. Similarly, the company's revenue for the fiscal year (ending March 2025) is expected to grow 305.7% year-over-year to $95.70 billion.
MITSY's stock has surged 15.3% year-to-date and 16.8% over the past year to close the last trading session at $431.
MITSY's sound fundamentals are reflected in its POWR Ratings. The stock has a B grade for Sentiment and Stability. It is ranked #25 among 31 stocks in the B-rated <a href="https://stocknews.com/category/steel/">Steel</a> industry.
You can access MITSY's ratings for Growth, Value, Momentum, and Quality <a href="https://stocknews.com/stock/MITSY/">here</a>.
Honda Motor Co., Ltd. (<a href="https://stocknews.com/stock/HMC">HMC</a>)
Headquartered in Tokyo, Japan, HMC develops, manufactures, and distributes motorcycles, automobiles, power, and other products internationally. The company operates through four segments: Motorcycle Business; Automobile Business; Financial Services Business; and Power Product and Other Businesses.
On June 13, HMC and Emporia Corp. announced a collaboration to boost innovation in the home energy management sector. Under this agreement, Honda made a strategic investment in Emporia and will focus on key areas like smart EV charging and home energy management, combining the strengths of both companies to deliver cutting-edge solutions.
Manabu Ozawa, chief officer of Honda Corporate Strategy Operations, "Our collaboration with Emporia aims to advance Honda's path toward carbon neutrality, enable customers to extract additional value from their EVs, and expand our energy services as we transition to our electrified future."
In April, HMC unveiled the Ye Series, an all-new EV series the company will introduce to China, including the world premiere of the first set of the Ye Series models, namely Ye P7 and Ye S7, and the concept model for the second set of series models, the Ye GT CONCEPT. The company plans to launch six EVs in China by 2027.
HMC's sales revenue for the first quarter that ended June 31, 2024, increased 16.9% year-over-year to ¥5.40 trillion ($36.83 billion). Its operating profit rose 35.4% from the year-ago value to ¥484.71 billion ($3.31 billion). Its profit for the period and EPS came in at ¥414.33 billion ($2.83 billion) and ¥81.81, up 8.2% and 12% from the previous year's period, respectively.
Analysts expect HMC's revenue and EPS for the fiscal year (ending March 2025) to increase 402.9% and 3.7% year-over-year to $146.70 billion and $4.52, respectively. Over the past month, the stock has soared 3.5% and 6.6% year-to-date to close the last trading session at $32.95.
HMC's POWR Ratings reflect its promising outlook. The stock has an overall A rating, equating to a Strong Buy in our proprietary rating system.
HMC has an A grade for Sentiment and a B for Stability, Value, and Quality. Within the <a href="https://stocknews.com/category/auto-vehicle-makers/">Auto &amp; Vehicle Manufacturers</a> industry, it is ranked #5 out of 51 stocks.
<a href="https://stocknews.com/stock/HMC/">Click here</a> for the additional POWR Ratings for HMC (Momentum and Growth).
What To Do Next?
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<hr />
SONY shares were trading at $96.42 per share on Tuesday morning, down $1.14 (-1.17%). Year-to-date, SONY has gained 2.07%, versus a 17.58% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Mangeet Kaur Bouns</h2> <img src='https:/wp-content/uploads/2022/01/Mangeet-Kaur-Bouns_Image-4.jpg' style="float:left; padding:5px;width:125px;">Mangeet's keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet's looks to help retail investors understand the underlying factors before making investment decisions.<a href="https://stocknews.com/authors/?author=mangeet-kaurbouns">More...</a>The post <a href=https://stocknews.com/news/sony-mitsy-hmc-3-japanese-stocks-to-watch-as-the-yen-weakens/>3 Japanese Stocks to Watch as the Yen Weakens</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Japanese Stocks to Watch as the Yen Weakens

Berkshire Hathaway: Japanese Bets May Now Be Approaching A Top 5 Position

In a report released on September 27, Thanh Ha Pham from Jefferies maintained a Hold rating on Mitsui & Co (MITSF – Research Report), with a price ...

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