Saudi Arabia Public Investment Fund buys 5% stake in Nintendo

The PIF said that it acquired this stake "for investment purposes"

Saudi Arabia's Public Investment Fund has taken a 5.01% stake in Nintendo.

The PIF said that it acquired this stake "for investment purposes," Bloomberg reported.

The publication added that a spokesperson said that Nintendo learned about the investment from news reports and didn't want to comment on individual shareholders.

Earlier this year, the Saudi Arabian fund acquired a stake of more than 5% in Capcom and Nexon, with a combined value of over $1 billion.

In April, it also acquired a 96% stake in King of Fighters developer SNK.

Back in 2021, the PIF invested over $3 billion of stock in Activision Blizzard, Electronic Arts, and Take-Two Interactive.

In its financial results for the fiscal year ended March 31, 2022, Nintendo reported a 3.6% dip in sales to $13.1 billion, due to the semiconductor shortage, with Switch shipments declining 20% year-on-year.

More stories

Nintendo is not attending Gamescom

Platform holder will instead bring upcoming Nintendo Switch games to “numerous events throughout Germany”

By James Batchelor

The birthplace of Nintendo

Now converted into a hotel, we take a look at the former headquarters where the Mario maker transformed into the company we know today

By Geoffrey Bunting

Latest comments

Sign in to contribute

Need an account? Register now.