The Saudi Arabia Public Investment Fund is considering increasing its stake in Nintendo and other gaming firms, it has been revealed.
Speaking in an interview with Japanese new agency Kyodo News, Prince Faisal bin Bandar bin Sultan Al Saud, vice chair of the PIF’s gaming unit, revealed the desire to expand but said that there was no urgency to make further investments, and that any increased stake will be made in a “friendly” manner.
PIF currently owns 8.58% of Nintendo currently, and is the largest outside investor in the company.
It has minority stakes in video game companies Nexon (10.53%), Keoi Tecmo (8.99%), and Capcom (6.60%). It also owns 96% of King of Fighters and Fatal Fury creator SNK.
Increased investment in gaming entities is part of Saudi Arabia’s drive to reduce its reliance on oil exports, the nation’s main source of wealth.
It initially took a 5% stake in Nintendo in 2022, increasing the stake to 6% the following year.
The Saudi Arabia Public Investment Fund is considering increasing its stake in Nintendo and other gaming firms, it has been revealed.
Speaking in an interview with Japanese new agency Kyodo News, Prince Faisal bin Bandar bin Sultan Al Saud, vice chair of the PIF's gaming unit, revealed the desire to expand but said that there was no urgency to make further investments, and that any increased stake will be made in a "friendly" manner.
PIF currently owns 8.58% of Nintendo currently, and is the largest outside investor in the company.
It has minority stakes in video game companies Nexon (10.53%), Keoi Tecmo (8.99%), and Capcom (6.60%). It also owns 96% of King of Fighters and Fatal Fury creator SNK.
Increased investment in gaming entities is part of Saudi Arabia's drive to reduce its reliance on oil exports, the nation's main source of wealth.
It initially took a 5% stake in Nintendo in 2022, increasing the stake to 6% the following year.
