The Value Case for Japanese Trading Houses in 2026

Lucas and Luna dive into the overlooked value opportunity in Japanese trading houses — the sogo shosha — which have been quietly restructuring and generating massive free cash flow. With the Nikkei near all-time highs but these conglomerates trading at single-digit P/E ratios and offering growing dividends, the hosts examine why Buffett invested in five of them in 2020 and whether the thesis still holds six years later. They walk through specific numbers from Mitsubishi Corporation and Mitsui & Co., and discuss the risk of Japan's corporate governance reforms stalling. A concrete look at why global value investors are circling Japan again — and whether the moment has passed or just begun. #JapaneseTradingHouses #SogoShosha #ValueInvesting #Mitsubishi #Mitsui #WarrenBuffett #BerkshireHathaway #Japan #Nikkei #CorporateGovernance #DividendGrowth #FreeCashFlow #InternationalStocks #Finance #FexingoBusiness #BusinessPodcast #Investing #LongTermPicking Keep every episode free: buymeacoffee.com/fexingo