As reported by Bloomberg (thanks, The Edge), a new filing in Japan shows that the PIF's stake in the Japanese video game firm now stands at 6.3%, down from 7.54%. This follows an earlier 1.04% reduction in October, a move which came soon after reports to the contrary suggesting the sovereign wealth fund was seeking to increase rather than decrease its Nintendo stakehold.
Despite the reduction, the PIF remains one of the largest outside investors in the company, having initially taken a 5% stake in Nintendo in 2022, increasing to 6% the following year.
Over several years the fund has sought to expand investment across the gaming industry, with significant stakes in companies such as Koei Tecmo and Capcom. The government-run fund also has investments in Embracer Group and a host of other prominent industry players, including Activision, EA, and Take-Two.
Criticism of Saudi Arabia's human rights record — which is tracked and reported on by organisations such as Amnesty — has led to criticism of the PIF's investment across industries worldwide in recent years.
[source bloomberg.com, via theedgemalaysia.com]
Saudi Arabia's PIF Further Reduces Its Stake In Nintendo
Sovereign wealth fund now has a 6.3% stakehold
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