As US investment giant Berkshire Hathaway signals plans to expand its investments in Japanese trading houses and insurance stocks, it has acquired shares in Tokio Marine Holdings. The total investment is approximately $1.8 billion, and its holding is expected to account for just over 0.6% of all Japanese equities. In response, Nomura Securities has provided commentary on screening Japanese stocks.
On 23 March 2026, Berkshire Hathaway and Tokio Marine Holdings announced a capital and business alliance, and Berkshire disclosed plans to acquire a 2.49% stake in Tokio Marine Holdings. This marks an expansion of the company's investments beyond Japanese trading house stocks to include insurance stocks.
Based on publicly available information, Nomura Securities reports that Japanese stocks account for approximately 14.3% of Berkshire's approximately US$330 billion Japanese equity portfolio. While US stocks remain the dominant component, the weighting of Japanese stocks is increasing. Several industries other than property and casualty and life insurance were identified, including Tokio Marine Holdings, as meeting the criteria for narrowing down Japanese companies while retaining the characteristics of large market capitalisations, high ROE and relatively low volatility.
The tabular screening is based on TOPIX 500 constituents with a market capitalisation of ¥1 trillion or more, with companies meeting at least 5 of the 7 criteria to be selected. Historical PBR and forecast metrics are based on QUICK, Toyo Keizai, and Nikkei estimates, using data as of 8 April 2026.
The article also refers to the criteria for the Nikkei Moat Stock Index, noting that Tokio Marine Holdings is excluded because financial companies are outside the scope. Attention is expected to focus going forward on stock-selection trends arising from this screening.