Japanese Trading Stocks Slip After Berkshire-Fueled Rally

Shares of Japan's five largest trading houses fell on Friday, reversing strong gains from the previous session after Berkshire Hathaway signaled it plans to increase its stakes in the companies. Profit-taking and a stronger yen pressured the stocks. Mitsubishi Corp led declines with a 3.3% drop, while Mitsui fell 4.3%, Sumitomo slipped 0.4%, and Marubeni lost 2.4%, though Itochu rose 0.5%. The sector underperformed the Nikkei 225's 0.9% gain, following Thursday's rally sparked by Berkshire CEO Greg Abel's comments. Berkshire holds stakes between 9% and 11% in the five firms, valued at $35.37 billion at end-2025, with Mitsubishi its largest position at 10.8%. The yen's appreciation, driven by Bank of Japan rate hike speculation, pressured the firms due to their foreign-currency earnings.