Image: Damian McFerran/Nintendo Life
It has been revealed that the Saudi Public Investment Fund is considering increasing its stake in Nintendo and other game companies.
In an interview with Kyodo News, the new Japanese agency, Prince Faisal bin Bandar bin Sultan Al Saud, vice-chairman of PIF’s gaming division, revealed his desire to expand, but there are no plans for further expansion. He stated that there is no urgency to invest and there will be no increase in the amount invested. Made to be “friendly”.
PIF currently owns 8.58% of Nintendo stock, making it the company’s largest outside investor.
It holds minority stakes in video game companies Nexon (10.53%), Keoi Tecmo (8.99%), and Capcom (6.60%). It also owns 96% of SNK, the creator of The King of Fighters and Fatal Fury.
The increased investment in gaming companies is part of Saudi Arabia’s efforts to reduce its dependence on oil exports, the country’s main source of wealth.
The company initially acquired a 5% stake in Nintendo in 2022, increasing its stake to 6% the following year.
(Source reuters.com, via mynintendonews.com)
Damien has been writing about technology and video games professionally since 2007 and oversees all Hookshot Media sites from an editorial standpoint. He is also the editor of Time Extension, the network’s newest site. This site is, paradoxically, all about gaming’s past glories.
