Greg Abel, who succeeded Warren Buffett as chief executive of Berkshire Hathaway late last year, said on May 2 that the group would continue to invest in Japanese companies, including general trading houses and Tokio Marine Holdings, Jiji Press reports.

Speaking at Berkshire’s annual shareholder meeting in Omaha, Nebraska, Abel praised Tokio Marine, which announced an investment from Berkshire and a strategic partnership with its insurance unit in March, and indicated that the company would hold its shares in the group over the long term.

On the same day, Berkshire reported its earnings for the January–March period, showing that its cash reserves had risen to a record $397.3bn following a series of share sales.

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