The Saudi Arabian Public Investment Fund (PIF) has acquired a 5.01% stake in Nintendo as the state treasury increases its exposure to the Japanese video game industry.
The investment in the company was made for investment purposes, and comes as PIF has also acquired a stake in video game companies Nexon, Capcom, Koei Tecmo.
The fund, chaired by Crown Prince Mohammed Biz Salman, is a major investor in Softbank Group’s $ 100 billion Vision Fund, but also invests independently as part of plans to transform the country’s economy.
The state-owned fund, which manages more than $ 600 billion, has acquired a stake in Activision Bizzard, the publisher of Call of Duty, which Microsoft said it would buy in January.
Source: Capital
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