Berkshire Hathaway Inc. will continue selling yen-denominated bonds to fund future investments in Japan, CEO Greg Abel told CNBC on Saturday.
The CEO stated that rates in Japan are "still relatively modest when you think about it." Last week, the yield on a 10-year Japanese bond reached its highest level in 30 years, rising above 3%.
Abel added that Berkshire hopes to maintain its investments in Japanese companies, including Itochu Corp., Mitsubishi Corp., Mitsui & Co., Sumitomo Corp. and Marubeni Corp. "We've been building really strong relationships with each of the companies, and looking at other opportunities here in Japan, and for that matter, abroad," Abel added.
In March, Berkshire invested $1.8 billion to acquire an approximately 2.5% stake in Tokio Marine Holdings, Japan’s oldest insurance company.
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