Saudi Arabia Buys 5% Stake in Nintendo - NewsWilliam D'Angelo , posted on 01 June 2022 / 2,423 Views
Saudi Arabia's Public Investment Fund has bought a 5.01% stake in Nintendo, according to a filing to Japan's Finance Ministry and reported by Bloomberg.
The Saudi fund is now the fifth largest shareholder in Nintendo, according to Bloomberg's data.
This is the third investment by Saudi Arabia's Public Investment Fund in a Japanese video game company. The other two companies are Capcom and Nexon, which the fund bought a more than 5% stake in.
The purchase of the Nintendo stake is for investment purposes, which is the same reason the fund previously gave for other investments.
A Nintendo spokesperson said they would not comment on individual shareholders and Nintendo learned about the Saudi fund investment from news reports.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.