Core Viewpoint - Overseas investors have shown renewed interest in Japanese stocks, with significant net purchases observed in the third week of March, driven by positive market sentiment and notable investments from Berkshire Hathaway [1][2]. Group 1: Overseas Investor Activity - In the third week of March (17-21), overseas investors net purchased a total of 697.3 billion yen in Japanese stock spot and index futures, marking the highest level in approximately two months [1]. - The net purchases included 261.1 billion yen in stock spot and 436.2 billion yen in index futures, indicating a return to net buying after four weeks [2]. - The Nikkei average index rose by 623 points (2%) during this period, reflecting increased risk appetite among investors [2]. Group 2: Influencing Factors - The announcement of Berkshire Hathaway increasing its stake in five major Japanese trading companies has led to a surge in buying activity, particularly in undervalued stocks [2]. - There are indications of seasonal demand related to the fiscal year-end, with institutional investors engaging in "dividend reinvestment" ahead of expected future dividends [2]. - However, there are concerns that the buying momentum from foreign investors may not be sustained, especially following the announcement of a 25% tariff on imported cars by President Trump, which negatively impacted export-related stocks [2]. Group 3: Domestic Investor Behavior - Japanese corporations have continued to net purchase stock spots for 11 consecutive weeks, with a net purchase amount of 44.9 billion yen, reflecting ongoing stock buyback activities [3]. - Trust banks, which reflect the trading behavior of pension funds, have resumed net selling after two weeks, indicating a shift in institutional investor sentiment [3].