TOKYO — Five Japanese trading houses backed by Warren Buffett have posted a combined net profit of 4.2 trillion yen ($31.1 billion) for the fiscal year ended in March, more than quadrupling their earnings in the two years since the famed American investor started holding substantial stakes through Berkshire Hathaway.
But all five of the companies forecast declining profits this fiscal year due partly to easing commodity prices. They face the task of developing sustainable business models that include green energy, digitization and other sectors not exposed to market volatility.
