As tariff wars and recession fears, Warren Buffett’s Berkshire Hathaway successfully issued ¥90 billion ($628 million) in yen-denominated bonds on April 11, 2025, marking its smallest yen bond deal since entering the Japanese market in 2019.
The six-part offering, with maturities ranging from three to 30 years, came amid global market turmoil caused by escalating trade wars and recession fears, which led many Japanese companies to cancel bond sales.
Buffett’s firm has been leveraging yen bonds to finance its investments in Japan’s five largest trading houses—Mitsubishi, Itochu, Sumitomo, Mitsui, and Marubeni. Berkshire recently raised its stakes in these firms to nearly 10%, citing their strong management and shareholder-friendly practices.
Despite challenging market conditions, Buffett’s move reflects his long-term confidence in Japan’s economy and his strategic approach of investing during periods of uncertainty.
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