According to a new filing by the Japan Finance Ministry, Saudi Arabia purchased a 5.01% stake into Nintendo. Bloomberg reports that the Public Investment Fund made the purchase on behalf of crown prince Mohammed bin Salman. This marks the third investment from the PIF into a major Japanese gaming company.
PIF’s new stake acquisition makes Saudi Arabia the fifth largest shareholder in Nintendo. The country also purchased similarly sized shares in Capcom and NEXON earlier in 2022. The investments into both companies totalled over $1 billion.
The PIF also acquired $3 billion worth of stock in Activision Blizzard back in December of 2020. The fund is expected to profit from the Microsoft acquisition of Activision Blizzard once the deal closes. The deal is expected to close before July 2023, just shy over a year from now.
In April 2022, Salman’s Electronic Gaming Development Company acquired 96% of shares into Japanese fighting game developer SNK. Following the success of The King of Fighters XV, SNK plans to develop more fighting games and a potential new action RPG. Additionally, the studio is looking into large scale “AAA” development within the next 10 years.
In the meantime, stay tuned at Final Weapon for the latest Japanese gaming news and updates.