Berkshire Hathaway taps cheap yen debt to lock in long-term funding at 0.53%

Berkshire Hathaway will pay just $9.06 million in annual interest to borrow $1.71 billion in yen, locking in a 0.53% rate on debt maturing in 2031. That cost is less than a third of the current U.S. 10-year Treasury yield, giving the company a substantial arbitrage advantage. The bond sale, completed on April 9, 2026, took place in Japan’s ultra-low-rate environment, where borrowing costs have remained near historic lows. Despite generating no revenue in yen, Berkshire’s AAA-rated creditworthiness allowed it to access these cheap funds. The issuance was oversubscribed, reflecting strong demand from Japanese investors seeking safe, dollar-linked returns. The proceeds support Berkshire’s strategy of building long-duration, low-cost liabilities to match its long-term insurance and investment obligations. This includes potential future yen-denominated payouts or acquisitions. The 0.53% coupon is among the lowest rates Berkshire has ever paid on foreign currency debt. The company now adds this tranche to its broader portfolio of international borrowings, which act as both financing and de facto currency hedges. For every dollar of interest saved, Berkshire gains flexibility to deploy capital elsewhere at higher returns. The deal underscores how global capital markets reward rock-solid balance sheets with access to the world’s cheapest funding, regardless of domicile.