Billionaire investor Warren Buffett’s trip to a Japanese plant today may “shine a light” on investment opportunities in a nation hampered by the March earthquake and the global market rout, according to a Bloomberg report.
Buffett, chairman of Berkshire Hathaway, is visiting Japan for the first time to tour Tungaloy Corp.’s plant in Fukushima prefecture after canceling his trip in March when the country was hit by a record temblor. Iscar Metalworking Cos., an Israeli company that was Berkshire’s largest acquisition of a non-U.S. firm, in 2008 bought a 71.5 percent stake in Tungaloy, which makes tools for cars and planes.
Japan suffered its worst postwar catastrophe as the March 11 quake and ensuing tsunami crippled nuclear plants in Fukushima prefecture. Buffett, who became the world’s third- richest person through long-term value investing, said earlier this year that the disaster created a “buying opportunity.”
“The fact that a renowned investor like Mr. Buffett is actually coming all the way to Japan and to the very place where it became the center of the disaster means a lot and may shine a light,” said Shuhei Abe, president of Tokyo-based Sparx Group Co., Asia’s second-biggest hedge fund. “There are expectations that Mr. Buffett may invest more in Japan.”….
Find out more at http://www.bloomberg.com/news/2011-11-20/buffett-s-visit-to-japan-may-shine-a-light-on-investments.html
No comments:
Post a Comment