Berkshire Hathaway takes stakes in Japanese trading houses

TOKYO — Billionaire investor Warren Buffett’s Berkshire Hathaway said Monday it has taken stakes of just over 5% in five major Japanese trading houses in what it says is a long-term investment. Share prices of the five huge companies surged between 4% to 9.5% on Monday in Tokyo after the company announced the investment. Berkshire Hathaway said that its subsidiary National Indemnity Co. planned...