Saudi Arabia's wealth fund raises Nintendo stake to 6%

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PIF's stake in the Kyoto-based company has risen from 5.01% to 6.07%, according to the ownership report filed with Japanese regulators

Makiko Yamazaki, Reuters News

January 12, 2023

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TOKYO - Saudi Arabia's Public Investment Fund (PIF) has increased its stake in Japan's Nintendo Co Ltd to 6%, a filing showed on Thursday, reflecting the sovereign wealth fund's growing exposure to the Japanese video gaming industry.

PIF's stake in the Kyoto-based company has risen from 5.01% to 6.07%, according to the ownership report filed with Japanese regulators.

PIF revealed its 5% stake in Nintendo in a regulatory filing in May last year, stating that it was made for investment purposes. It has also taken stakes in video game companies Nexon , Capcom, and Koei Tecmo.

Nintendo shares were down 1.8% in the morning.

(Reporting by Makiko Yamazaki; editing by Uttaresh.V)

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