Monitor for completion of the Tokio Marine stake acquisition and watch for any yen currency fluctuations that could impact the effective yield for investors, as the notes are yen-denominated but will be settled in USD if yen becomes unavailable.
Price Chart
Executive Summary
Berkshire Hathaway is issuing three series of senior unsecured yen-denominated notes to refinance $1.34 billion in maturing debt and partially fund a minority stake acquisition in Tokio Marine Holdings. The notes are being offered through a private placement to qualified institutional investors with no public market listing.
Key Facts
- Offering three series of senior unsecured yen-denominated notes
- Proceeds to refinance $1.34 billion in maturing debt (¥40B at 0.173% and ¥93.9B at 0.907%)
- Remaining proceeds to partially finance acquisition of minority stake in Tokio Marine Holdings
- Notes issued in minimum denominations of ¥100 million with no public market listing
- Offering structured as private placement to qualified institutional investors globally
Financial Impact
Refinancing of $1.34 billion in maturing debt and partial funding of Tokio Marine acquisition
Risk Factors
- Currency risk due to yen denomination with potential USD conversion
- Limited liquidity as notes are not listed on any securities exchange
- Refinancing risk if market conditions change before the offering closes
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001193125-26-138654 |
| Document: 0001193125-26-138654-index-headers.html | 0001193125-26-138654 |
| Document: 0001193125-26-138654-index.html | 0001193125-26-138654 |
| Document: 0001193125-26-138654.txt | 0001193125-26-138654 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 12d ago | Institutional Cluster | $789,486.00 $820,500.00 | ▲ +3.93% | ▲ +4.94% | $814,361.25 (+3.15%) |
May 15, 2026 23w ago | 13F-HR | $730,000.00 $724,500.00 | ▼ −0.75% | ▼ −2.37% | $814,361.25 (+11.56%) |
Apr 14, 2026 28w ago | 424B5 | $716,783.00 $703,700.00 | ▼ −1.83% | ▼ −3.22% | $814,361.25 (+13.61%) |
Apr 1, 2026 29w ago | 424B5 | $716,300.00 $720,003.00 | ▲ +0.52% | ▼ −3.10% | $814,361.25 (+13.69%) |
US Market Status
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