Nintendo: Saudi Arabia’s Public Investment Fund (PIF) has reduced its stake in Nintendo shares, falling by a percentage following recent news.
In recent years, Saudi Arabia has invested heavily in the video game industry through Savvy Games, a group founded by the Saudi Investment Fund. With this, it owns SNK and has a large stake in other Japanese companies such as Capcom and Nintendo.
Recently, reports suggest that Saudi Arabia is preparing to invest more in the company behind Mario and other developers in the region. Surprisingly, this morning it was revealed that Savvy Games has reduced its stake in Nintendo.
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Despite this, he is still one of the shareholders in the Shuntaro Furukawa-led company. Additionally, its plans to invest in other Japanese companies and expand its presence in the region are still ongoing.
It was in May 2022 that Saudi Arabia opened its portfolio to acquire 5.01% of Nintendo shares. The company said it was surprised by the decision and said it was only informed after the story hit the headlines.
Later, in the middle of 2023, the Public Investment Fund bought more shares, controlling 8.58% of the company.
Surprisingly, Saudi Arabia now has a few Nintendo shares. Earlier, reports suggested that the Investment Fund had plans to invest more in the company behind The Legend of Zelda.
But that is no longer the case. In fact, Prince Faisal bin Bandar bin Sultan Al-Saud, the vice president of Savvy Games, intends to invest more in the Japanese video game industry than to buy more Nintendo products.
Thanks to these new measures, Saudi Arabia now holds 7.54%, compared to 8.58% previously, of Nintendo shares. However, Savvy Games is still one of the largest owners of the entertainment industry.
It is worth mentioning that Saudi Arabia has also invested in companies such as Activision Blizzard, Electronic Arts, Take-Two, Capcom and Embracer Group. In the coming months, more information about their new investment in Japan is expected.
