While the U.S. appears to be embarking on a new bull run, Japan is enjoying more significant economic growth.

And one month ago, Warren Buffett highlighted the nation’s booming market as he doubled down on investments in several Japanese stocks. Similar to Buffett’s Berkshire Hathaway (NYSE:BRK-A, NYSE:BRK-B), these companies belong to the sogo-shosha category, meaning they deal in a variety of industries. It’s been an outstanding year for all five firms Buffett named, such as Itochu (OTCMKTS:ITOCY) and Mitsui & Co (OTCMKTS:MITSF). However, investors shouldn’t forget about other Japanese stocks that are also providing excellent returns.

Here three of the best Japanese stocks to buy now.

Toyota (TM)

When the topic turns to Japanese stocks, this iconic automaker is likely one of the first names that comes to mind. Toyota (NYSE:TM) has been providing cars to Western markets for generations. It is currently one of the world’s largest auto manufacturers with a truly global reach.

Plus, it has ventured into the electric vehicle market, with a focus on hybrid vehicles. The hybrid market expected to expand at a compound annual growth rate (CAGR) of roughly 14% through 2023. On top of that, Toyota is focusing on EV battery production, specifically by zeroing in on solid-state batteries, widely considered to be the battery technology of the future.

Toyota is a trusted name with decades of experience on its side. The company has also done a great job cornering the market for smaller, more affordable EVs and hybrids. Many experts considered it to be a winner among EV stocks before Japan’s economic prosperity started making headlines. Now it is even better-positioned to enjoy a year of growth as Japanese stocks continue to ride to the top.

Mitsubishi (MSBHF)

Mitsubishi (OTCMKTS:MSBHF) is the only one of Buffett’s sogo-shosha stocks to make this list. A widely known name across many sectors, the company has holdings in areas from banking and finance to energy and machinery. It currently holds the title of Japan’s largest general trading company. When we consider Mitsubishi’s strong exposure to many profitable sectors, it is not at all surprising that Buffett would be bullish on it, especially at a time when Japan is enjoying robust growth.

Mitsubishi has projects in the works that are likely to drive even more growth. In April 2023, it announced plans to invest in lithium and nickel mining, two metals that are necessary for EV battery production. More recently, it reported soaring profits and plans to buy back $2.2 billion in shares.

MSBHF stock is up 55% so far in 2023, and its current trajectory suggests it will keep booming alongside the Japanese economy.

Ebara (EBCOY)

This Tokyo-based manufacturing company isn’t as widely known as the other Japanese stocks on this list. However, that doesn’t mean it isn’t worth watching. Ebara (OTCMKTS:EBCOY) operates primarily in the industrial and environmental machinery spaces, producing large-scale wind turbines as well as different types of pumps. It also boasts subsidiaries in both the U.S. and Italy, giving it a truly global presence.

Ebara also recently developed a liquid hydrogen booster pump with significant applications for hydrogen power production. As Hydrogen Central reported:

“Because of the high level of technical difficulty, pumps with a large capacity capable of handling liquid hydrogen at -253°C and high pressure for power generation are not currently available on the market. Ebara is planning to launch the pump this year as the world’s first to supply liquid hydrogen fuel.”

The release of that pump could be an excellent growth catalyst for EBCOY stock. Like Mitsubishi, Ebara has enjoyed an excellent two quarters, rising more than 40% over the past six months. Investors looking for breakout Japanese stocks should keep an eye on Ebara as it gears up for even more growth.

On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.