Warren Buffett's late-career foray into Japan has turned into one of his most lucrative investments and JPMorgan believes the "Oracle of Omaha" is not done yet. Back in August 2020, when Buffett was approaching his 90th birthday, Berkshire revealed it had amassed positions of more than 5% in Itochu , Marubeni , Mitsubishi , Mitsui and Sumitomo — Japan's top trading houses that deal with everything from energy to consumer goods. Over the subsequent five years, the stock prices of the five companies have all more than tripled with the best performer surging more than 500%, according to JPMorgan's calculations. "We think it was clearly the Buffett effect that led the trading companies' shares to break out of their long-term phase of relative undervaluation," JPMorgan said in a note to clients

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