Buffett-backed Japan trading houses rise on Berkshire's stake boost

Flagged ownership increase lifts share price of Mitsui & Co. by 6%

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A report on Berkshire Hathaway's stake increases in Japanese trading houses came out shortly after the trading at the Tokyo Stock Exchange closed on Monday at 3:30 p.m. (Photo by Shinya Sawai)

Nikkei staff writers

TOKYO -- Shares of Japan's major trading houses rose sharply on Tuesday, as Warren Buffett's Berkshire Hathaway reported increases in its ownership in those companies, giving other investors endorsement to buy into the shares further.

Mitsubishi Corp. jumped 5.7% at one point to 2,796 yen, a high in four months. Mitsui & Co. rose more than 6%. Marubeni and Itochu rose nearly 6%, while Sumitomo Corp. gained a little above 4%.

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