Goldman will use its cloud platform, which was first introduced in the US in 2020, for the service, making Japan the first country in Asia to have access to it. News came just few days after Warren Buffet’s Berkshire Hathaway has raised its stakes in Japan's top five trading houses to 7.4% and Buffett said that he may invest more in the country. In an interview with Nikkei, Buffett said that he was very proud of the investments and would meet with the trading houses to discuss their businesses, perhaps laying the groundwork for doing business together. The trading houses are Itochu Corp, Marubeni Corp, Mitsubishi Corp, Mitsui & Co, and Sumitomo Corp. Buffett had disclosed owning 5% stakes in each company in August 2020 and reported increasing the stakes to over 6% in November. Buffett said that Berkshire does not invest in other Japanese companies, but there are always a few they are thinking about.

Movement of Goldman Sachs stock in the last five years. (Source: Trading Economics)

Sources:

https://tradingeconomics.com/gs:us

https://www.investing.com/news/stock-market-news/buffett-says-he-holds-74-stake-in-five-japanese-trading-houses-including-itochu-nikkei-3052003

https://www.investing.com/news/stock-market-news/goldman-sachs-to-enter-transaction-banking-business-in-japan-3053135

https://www.reuters.com/markets/asia/buffett-says-he-holds-74-stake-five-japanese-trading-houses-including-itochu-2023-04-11/#:~:text=TOKYO%2FNEW%20YORK%2C%20April%2011,invest%20more%20in%20the%20country.

https://www.cnbc.com/2023/04/11/berkshire-japan.html

https://www.reuters.com/business/finance/goldman-sachs-enter-transaction-banking-business-japan-2023-04-12/#:~:text=Goldman%2C%20which%20received%20its%20Japanese,than%20120%20currencies%2C%20it%20said.