News

Saudi Arabia’s PIF acquires 5% stake in Nintendo

Third major investment in Japanese games companies made for “investment purposes”

Date Type Companies involved Size
May 18th, 2022 investment Nintendo Not disclosed
Saudi Arabia’s PIF acquires 5% stake in Nintendo

Saudi Arabia’s Public Investment Fund (PIF) has taken 5.1 per cent investment stake in Nintendo, a move that will make the Saudi fund the fifth largest shareholder of Nintendo, according to Bloomberg.

The PIF, headed by Saudi Arabian Crown Prince Mohammed bin Salman, has been proactively investing in games companies, including more than $3 billion in Electronic Arts, Activision Blizzard, and Take-Two Interactive.

The Saudi fund has also made considerable investments in Capcom and Nexon in 2022, in addition to its 33 per cent stake in SNK.

Previously, it was reported that the Crown Prince hopes the PIF will help to shift Saudi Arabia away from its economic dependence on oil.

A Nintendo spokesperson told Bloomberg that the company learned of the investment following news reports and would not comment on individual shareholders.


Editor

Unlike many of the stalwart hands at Steel Media, Khai joins PocketGamer.biz fresh to both the games media and the wider games industry. There is much to learn, and he wants you onboard that journey.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies