<p>"I'm not looking at Japan's economic future differently from 10 days ago... extraordinary events offer (a) buying opportunity," he told reporters.<br /><br />Buffett, the chairman of investment firm Berkshire Hathaway, was visiting South Korea to attend a ground-breaking ceremony for a local unit of Israel's Iscar Metalworking Companies, 80 per cent owned by Berkshire Hathaway.<br /><br />Japan's Nikkei index lost around 10 per cent in the week following the devastating March 11 quake and tsunami.<br /><br />Buffett, however, urged against selling Japanese stock -- markets were closed in Tokyo today -- and said Japan would recover relatively quickly, Yonhap news agency said.<br />The disaster, which has left 8,649 people dead and 13,262 missing, could cost the Japanese economy up to USD 235 billion, the World Bank said today.<br /><br />Growth, however, should pick up in subsequent quarters "as reconstruction efforts, which could last five years, accelerate", it said.<br /><br />Buffett, known as the "Oracle of Omaha" for his investment savvy, said Berkshire was seeking further acquisitions worldwide including South Korea following its USD 9 billion purchase of US lubricant maker Lubrizol.<br /><br />"We're looking at a number of big businesses in Korea, the US, the UK. We hope to find good companies wherever they may be. Basically, it's the bigger, the better," he said.<br /><br />The tycoon also played down military and nuclear threats from North Korea, saying the communist country "isn't a big threat" to the firm's investment in the capitalist South.<br />Buffett was scheduled to meet with South Korean President Lee Myung-Bak later today.</p>
<p>"I'm not looking at Japan's economic future differently from 10 days ago... extraordinary events offer (a) buying opportunity," he told reporters.<br /><br />Buffett, the chairman of investment firm Berkshire Hathaway, was visiting South Korea to attend a ground-breaking ceremony for a local unit of Israel's Iscar Metalworking Companies, 80 per cent owned by Berkshire Hathaway.<br /><br />Japan's Nikkei index lost around 10 per cent in the week following the devastating March 11 quake and tsunami.<br /><br />Buffett, however, urged against selling Japanese stock -- markets were closed in Tokyo today -- and said Japan would recover relatively quickly, Yonhap news agency said.<br />The disaster, which has left 8,649 people dead and 13,262 missing, could cost the Japanese economy up to USD 235 billion, the World Bank said today.<br /><br />Growth, however, should pick up in subsequent quarters "as reconstruction efforts, which could last five years, accelerate", it said.<br /><br />Buffett, known as the "Oracle of Omaha" for his investment savvy, said Berkshire was seeking further acquisitions worldwide including South Korea following its USD 9 billion purchase of US lubricant maker Lubrizol.<br /><br />"We're looking at a number of big businesses in Korea, the US, the UK. We hope to find good companies wherever they may be. Basically, it's the bigger, the better," he said.<br /><br />The tycoon also played down military and nuclear threats from North Korea, saying the communist country "isn't a big threat" to the firm's investment in the capitalist South.<br />Buffett was scheduled to meet with South Korean President Lee Myung-Bak later today.</p>