Buffett’s intriguing bet on Japan

Warren Buffett’s long record of picking winners made him a welcome presence last month in Tokyo. A recent move to increase the stakes held by Berkshire Hathaway in five general trading companies has been hailed as a vote of confidence in the country’s long-ailing corporate sector.

Buffett, who began accumulating stakes in the so-called sogo shosha three years ago, sees the shareholdings as a bet on a handful of neglected enterprises that are set to make attractive profits.