Nov. 21 (Bloomberg) -- Billionaire investor Warren Buffett's trip to aJapanese plant today may "shine a light" on investment opportunities in a nation hampered by the March earthquake and the global market rout.
Buffett, chairman of Berkshire Hathaway Inc.,is visiting Japan for the first time to tour Tungaloy Corp.'s plant in Fukushima prefecture after canceling his trip inMarch when the country was hit by a record earthquake. Iscar Metalworking Cos., an Israeli company that wasBerkshire's largest acquisition of a non-U.S. firm, in 2008 bought a 71.5 percent stake in Tungaloy, which makes tools for cars and planes.
"This is a wonderful day for me," Buffett, 81, told Tungaloy executives andlocal officials after arriving at the plant in Iwaki city by helicopter today. "The world has had its eye on Japan andespecially this area."
Iwaki is about 40 kilometers (25 miles) from the Fukushima Dai-Ichi nuclear plant that leaked radiation after it was crippled by the March 11 earthquakeand tsunami. Buffett, who became the world'sthird-richest person through long-term valueinvesting, said earlier this year that the disaster created a"buying opportunity."
'Means a Lot'
"The fact that a renowned investor like Mr. Buffett is actually coming all the way to Japan and to the very place where it became the center of the disastermeans a lot and may shine a light," said Shuhei Abe, president of Tokyo-based Sparx Group Co., Asia's second-biggest hedge fund."There are expectations that Mr. Buffett may invest more in Japan."
Among Berkshire's Asian investments are stakes inChinese carmaker BYD Co. and South Korea's Posco, the world's third- largest steelmaker. Iscar has invested in TaeguTecLtd., a South Korean cutting-tools maker, andBerkshire announced a plan this year to enter India's insurance marketby selling motor coverage as a corporate agent of Bajaj Allianz General Insurance.
Berkshire's insurance business posted a first-quarter underwriting loss of $1.28 billion pretax, compared with aprofit of $345 million a year earlier. The Japan quake cost the firm about $1.1 billion. Buffett said at Berkshire's annual meeting on April 30 that the insurance industry had its second- worst quarter in terms of catastrophes worldwide.
Buffett has visited nations including South Korea, China, India, Italy,Germany, Spain and Switzerland since early 2008 scouting opportunities for Berkshire.

Buffett has visited nations including South Korea, China, India, Italy,Germany, Spain and Switzerland since early 2008 scouting opportunities for Berkshire. .Jobs for Americans First!!!

Another example of Corporate Greed..

Аgreed