Billionaire investor Warrant Buffet, chairman and CEO of Berkshire Hathaway, recently said he is on the lookout for a “big investment” in Japan, although he stopped short of confirming concrete plans.
Mr. Buffet made the comment during his first-ever visit to Japan, where he toured the plant of cemented carbide tool supplier Tungaloy in Iwaki city, Fukushima prefecture. Although the strong yen is a problem for Japanese manufacturers, he said the country is dealing with the situation “remarkably well” and that undervalued Japanese companies with sustainable competitiveness make the country an attractive investment destination. He also praised Japan’s resilience in the wake of the March 11 earthquake and tsunami.
Mr. Buffet noted that he had no plans for direct investments in Europe as the continent grapples with its debt crisis, although he views the U.S. economy as a good prospect.