Saudi Arabia buys more Nintendo shares, bringing its stake to 6%

The public investment fund of‘Saudi Arabia continues to invest in the world of video games: after buying other shares, now owns the 6% of the shares of Nintendo. The share purchase follows similar investments made a few years ago in companies such as Capcom, EA, Take-Two e Activision.

Saudi Arabia and Nintendo: Buy new shares

Saudi Arabia’s public investment fund increased its stake in the Japanese company Nintendo al 6%as shown by a report filed yesterday evening, testifying to the growing sovereign wealth fund exposure towards the Japanese video game industry.

PIF’s stake in the Kyoto firm has transitioned from 5,01% of May 2022 to 6,07%according to the ownership report filed with Japanese regulators.

Saudi Arabia has revealed its 5% stake in Nintendo in a regulatory document dated May last year, stating that it had been made a investment purpose. The company has also acquired stakes in video game companies Nexon, Capcom e Cow Tecmo in the past years.

The acquisition made in May is part of the strategy Saudi Vision 2030, like the other acquisitions in the gaming world last year. Whose official goal is to diversify the nation’s oil-centric economy. Though Aramcothe flag oil company, is not only the largest Saudi company: it recently surpassed Apple to become the richest in the world.

As we’ve noted in the past, video games aren’t the only area Saudi Arabia is investing in. Several films recently had the support of Saudi money, as well as in football with the team of Premier League Newcastle. Where the acquisition of shares has passed despite the fan protests over human rights violations in Saudi Arabia.