If I Had to Pick One Sōgō Shōsha – It Would Be Mitsui

I’m not invested in any Japanese trading houses. Yet. But if I had to pick one today, it would be Mitsui & Co.

The sōgō shōsha are a fascinating part of Japan’s corporate landscape. Giant conglomerates, deeply embedded in the country’s industrial backbone, with sprawling global footprints and decades of relationships built across energy, logistics, finance, manufacturing, and beyond. In a world that feels increasingly chaotic and short-term driven, they offer something different: resilience, stability, and long-term strategic vision.

Among them, Mitsui stands out to me.

I admire Mitsui for several reasons, but let’s start with energy—because that’s where my long-term thesis always begins. Energy is not just a sector. It’s a foundational human need. Mitsui has built a formidable position in LNG (liquefied natural gas), which I consider to be one of the most rational energy plays in a transitional world. It’s clean enough to be acceptable, cheap enough to be viable, and scalable enough to support real-world demand.

Mitsui has done the unsexy but essential work of building infrastructure—terminals, transport, and long-term partnerships across Asia, Australia, and the U.S. This is not about hype. It’s about enduring assets that will continue to generate returns, even when the market is chasing the next shiny thing.

I also respect their management. Mitsui isn’t a meme stock. It’s not trying to be one. It’s a well-run, disciplined operation that still thinks in decades. Their ability to allocate capital wisely, manage risk, and maintain strong partnerships speaks to a kind of business maturity that’s increasingly rare—and increasingly valuable.

So why am I not invested yet?

Because while I admire Mitsui deeply, my current portfolio is focused on high-growth, high-conviction U.S. small caps where I believe I have an edge. I’m playing for asymmetry. I want 10x returns over 5–7 years. Mitsui isn’t that. But it is a company I watch closely. It’s on my list. And it’s the kind of stock I would own in a more conservative, yield-focused portfolio—or in a different phase of my investing journey.

The truth is, there’s a lot to learn from Mitsui and its peers. About how to build for the long term. About how to operate across borders and cycles. About how to stay relevant in a changing world without losing sight of what actually matters.

Mitsui is proof that boring can be brilliant. And if the world gets messier—as I believe it will—companies like this might just surprise everyone with how well they hold up.

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