Berkshire Hathaway Inc. is looking to increase ownership in Japan’s five largest trading houses “over time,” Warren Buffett said in an annual letter to shareholders that is likely to support their share prices in Tokyo.

Warren Buffett said on Saturday that his conglomerate Berkshire Hathaway will likely increase its ownership in the five Japanese trading houses it holds.

"Over time, you will likely see Berkshire's ownership of all five increase somewhat," Buffett said in his annual letter to shareholders. The Japanese names in Berkshire's portfolio are Itochu, Marubeni,

Warren Buffett defended the size of Berkshire Hathaway’s (BRK.A) cash hoard, which doubled last year to $334.2 billion, saying the majority of his investors’ money would always be invested in equities,

Billionaire Warren Buffett, marking 60 years leading Berkshire Hathaway, told shareholders in his annual letter released Saturday that he continues to prefer stocks despite a higher cash position.