The Saudi sovereign wealth fund's stakehold has reportedly decreased by over one percentage point, according to a Japanese filing. It now stands at 7.54% (thanks, GamesIndustryBiz).
An interview given to Kyodo News was the basis for reports detailing potential interest in increasing ownership in Nintendo and other video game firms. Despite the reduction, the PIF remains one of Nintendo's largest shareholders. You can read more about the original story below.
Original Story [Sun 6th Oct, 2024 10:30 BST]: The Saudi Arabia Public Investment Fund is considering increasing its stake in Nintendo and other gaming firms, it has been revealed.
Speaking in an interview with Japanese news agency Kyodo News, Prince Faisal bin Bandar bin Sultan Al Saud, vice chair of the PIF's gaming unit, revealed the desire to expand but said that there was no urgency to make further investments, and that any increased stake will be made in a "friendly" manner.
PIF currently owns 8.58% of Nintendo currently, and is the largest outside investor in the company.
It has minority stakes in video game companies Nexon (10.53%), Koei Tecmo (8.99%), and Capcom (6.60%). Meanwhile, Saudi crown prince Mohammad bin Salman's MiSK foundation owns 96% of King of Fighters and Fatal Fury creator SNK.
Increased investment in gaming entities is part of Saudi Arabia's drive to reduce its reliance on oil exports, the nation's main source of wealth.
It initially took a 5% stake in Nintendo in 2022, increasing the stake to 6% the following year.
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