Saudi Arabia PIF increases stake in Nintendo to 7 percent
The Saudi Arabian government has increased its investment in Nintendo once again after a previous increase confirmed in January 2023.
As we venture deeper into 2023, Saudi Arabia is the group making big moves to further dig into the video games industry via investments through the government-backed Public Investment Fund. It already had a stake in Nintendo, but has come to increase that stake over time with another increase occurring this month. The Saudi Arabia PIF now has a 7 percent stake in Nintendo.
This news came out of Saudi Arabian Twitter BRHM, with the figures also confirmed by Trading View. As of February 15, 2023, the Saudi Arabia PIF has increased its total investment in Nintendo to 7.08 percent. This is up from the previous 6.07 percent that was reported just last month in January 2023. That itself was also up from the initial 5 percent stake Saudi Arabia took in Nintendo in May 2022. Little by little, Saudi Arabia has seemingly been aggressively growing its stake in the company.
This investment also comes alongside a wealth of other investments in the games and entertainment industries as the Saudi Arabian government seeks to diversify away from reliance on oil. Back in February 2022, Saudi Arabia put sizeable investments into Capcom and Nexon. In June 2022, it added the Embracer Group to its list of investments, taking an 8.1 percent stake in the parent company of THQ Nordic, Coffee Stain Publishing, and much more.
With the Saudi Arabia PIF aggressively investing in a wide variety of major players in the game industry worldwide, it seems unlikely that the investment increases will stop there. Stay tuned as we continue to monitor this story for further information and updates.
TJ Denzer posted a new article, Saudi Arabia PIF increases stake in Nintendo to 7 percent