Saudi Arabia’s PIF Adds to Games Push With 5% Nintendo Stake
- Saudi Fund has put money into Japan’s Capcom and Nexon
- PIF set to become fifth-largest shareholder in Kyoto firm
Photographer: Tomohiro Ohsumi/Getty Images
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Saudi Arabia’s Public Investment Fund took a 5.01% stake in Nintendo Co., its third investment in a Japanese games company as the industry consolidates.
The PIF, as the $500 billion fund is known, said the Nintendo purchase was made for investment purposes, according to a filing to Japan’s Finance Ministry. That is the same reason it has given with previous investments and the holding is set to make the Saudi fund Nintendo’s fifth-largest shareholder, according to data compiled by Bloomberg.