Last night, it was revealed that the Saudi Arabia Public Index Fund had increased its initial stake in Nintendo, now up to 6.07% of the Japanese company. The initial investment occurred last year, and it seems they have now increased that by 1.06%.
It was just announced Saudi Arabia’s Public Investment Fund (PIF) upped its stake in Nintendo from 5.01% to 6.07%.
The same fund also today said it invested in South Korean game and messenger giant Kakao Entertainment.
— Dr. Serkan Toto / Kantan Games Inc. (@serkantoto) January 12, 2023
This wouldn’t be the first video game company this PIF has invested in, as Saudi Arabia has invested in companies such as Capcom, Embracer, Activision, and more already. The PIF currently has $3,000,000,000 worth of Activision stock, which Microsoft has stated it will be taking back after acquiring the company.
One of the biggest stakes they currently have is with SNK, where they currently own 96% of all shares. Last fall, it was claimed that this ownership didn’t affect SNK “in any way”. The Saudi Arabia PIF seems to be very invested in the Japanese gaming industry, especially with the SNK ownership.
The initial investment of Nintendo occurred in the first half of May 2022, with the initial stake being 5.01%. At the time of investment, the 5% ownership made Saudi Arabia the fifth biggest stakeholder of Nintendo. It is unsure if this has changed with the 1% increase as of the time of writing. If more information regarding the Nintendo stakeholder situation drops, we’ll be sure to update you.