Saudi wealth fund looking into increasing its stake in Nintendo
· My Nintendo NewsThe Saudi Arabia Public Investment Fund (PIF) is mulling over increasing its stake in Nintendo and other gaming companies according to an interview between Prince Faisal bin Bandar bin Sultan Al Saud and Kyodo News.
Speaking to Kyodo, Prince Faisal, vice chair of the PIF’s gaming divison, said that further investment is being considered, but that they are not in any rush and will make investments in a “friendly” way.
The PIF currently owns 8.58% of Nintendo shares, while having stakes in Nexon (10.53%), Keoi Tecmo (8.99%), and Capcom (6.60%).
Driving the PIF’s investments is the desire to move away from oil, the nation’s primary resource and export, and into other, foreign markets.
Additionally, both Prince Faisal and Crown Prince Mohammed bin Salman- Saudi Arabia’s de facto ruler- are said to be gamers, with the latter reportedly being a fan of Activision’s Call of Duty game series.