With U.S. markets in turmoil, the Oracle of Omaha is once again turning his gaze eastward, with Berkshire Hathaway Inc. BRK BRK planning a new round of Yen-denominated bonds, which it plans to invest primarily in five Japanese trading companies, in which it already maintains a sizable position.
What Happened: Berkshire Hathaway made new filings with the Securities and Exchange Commission (SEC) on Tuesday, announcing its intent to issue another round of Yen-denominated bonds, after naming Bank of America Securities BAC and Mizuho Americas as the lead managers of the issue.
The company’s filings neither mention the size of the issue nor the coupon rates just yet, and there is no clarity on how it plans to use the proceeds either, but there have been indications that Berkshire might use this to increase its holdings in Japan’s top 5 trading houses.
This includes Mitsubishi Corp, Mitsui & Co, Marubeni, Itochu, and Sumitomo…
