Buffett and his successor, Greg Abel, are fans of five Japanese stocks. Abel plans for Berkshire Hathaway to own these stocks for decades and would love to boost its stake by 5x in each of them.

Mr. Buffett has decided to abdicate the CEO mantle at the end of the year and pass it on to Greg Abel, who has been with the corporation for more than two decades. He is a Canadian from Edmonton and, ...