Saudi PIF adds to its games push with 5% Nintendo stake
- Date: 19-May-2022
- Source: Gulf Times
- Sector:Economy
- Country:Saudi Arabia
Saudi PIF adds to its games push with 5% Nintendo stake
Saudi PIF adds to its games push with 5% Nintendo stake
May 18 2022 10:05 PM
A figure of قMarioق, a character in Nintendoقs قMario Brosق video games, at a Nintendo centre in Tokyo (file). Saudi Arabiaقs Public Investment Fund took a 5.01% stake in Nintendo Co, its third investment in a Japanese games company as the industry consolidates.
Bloomberg / Tokyo
Saudi Arabia’s Public Investment Fund took a 5.01% stake in Nintendo Co, its third investment in a Japanese games company as the industry consolidates.
The PIF, as the $500bn fund is known, said the Nintendo purchase was made for investment purposes, according to a filing to Japan’s Finance Ministry. That is the same reason it has given with previous investments and the holding is set to make the Saudi fund Nintendo’s fifth-largest shareholder, according to data compiled by Bloomberg.
The PIF has been building stakes in video game makers and e-sports firms over the past two years, turning to the Japanese market just as a weaker yen has made investments more affordable. The Saudi fund disclosed stakes of more than 5% in two Japan-listed gaming firms this year: Capcom Co., the maker of the Street Fighter and Resident
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