Saudi Arabia to Increase Its Stakes in Nintendo

Saudi Arabia's sovereign wealth fund is considering raising its stakes in Nintendo Co., according to the vice chairman of the fund's gaming entity.

The vice chairman also shared that the fund is also considering buying shares in other Japanese gaming companies. The goal of the investments is to strengthen the country's entertainment business by shifting from its oil-based economy. The Fund owned 8.58 percent of Nintendo and 8.97 percent of Koei Tecmo Holdings Co., along with stakes in Nexon Co. and Capcom Co. Currently, the Public Investment Fund is transferring its shares in the Japanese companies to its gaming company, Savvy Games Group. 

"There are always opportunities," the vice chairman mentioned in the interview at the Tokyo Game Show, speaking about the investment. Other plans include promoting localization of video games in cooperation with Japanese partners.

Lately, Saudi Arabia has been actively developing the entertainment business, such as games and animation. For instance, an entertainment city named Qiddiya, which will include a stadium, a Formula One track, and the world's first theme park devoted to Dragon Ball, is being created.

Last year, the Public Investment Fund increased its 5.01% stake in Nintendo to 6.07% and also raised its stake in Electronic Arts. 

Read the details here and join our 80 Level Talent platform and our Telegram channel, follow us on Instagram, Twitter, LinkedIn, TikTok, and Reddit, where we share breakdowns, the latest news, awesome artworks, and more.