Last night it was revealed that the Saudi Arabia Public Index Fund had increased its original stake in Nintendo, now to 6.07% of the Japanese company. The initial investment was last year, and it looks like they’ve now increased it by 1.06%.
It has just been announced that Saudi Arabia’s Public Investment Fund (PIF) has increased its stake in Nintendo from 5.01% to 6.07%.
The same fund also announced today that it has invested in South Korean gaming and messaging giant Kakao Entertainment.
— Dr. McCarthy. Entrez Toto / Kantan Games Inc. (@serkantoto) January 12, 2023
It wouldn’t be the first video game company this PIF has invested in, as Saudi Arabia has already invested in companies such as Capcom, Embracer, Activision and many more. The PIF currently owns $3,000,000,000 of Activision stock, which Microsoft said it would take back after acquiring the company.
One of the biggest stakes they currently hold is with SNK, where they currently own 96% of all shares. Last fall, it was claimed that this property “in no way” affects SNK. The Saudi PIF seems to be heavily invested in the Japanese gaming industry, especially with ownership of SNK.
Nintendo’s initial investment took place in the first half of May 2022, with the initial stake being 5.01%. At the time of the investment, the 5% stake made Saudi Arabia Nintendo’s fifth largest shareholder. It is uncertain whether this has changed with the 1% increase at the time of writing. If more information regarding Nintendo’s stakeholder situation drops, we’ll be sure to update you.