Saudi Arabia's Public Investment Fund acquires 5% stake in Nintendo

by Adam Fitch  · 
Updated
Saudi Arabia's Public Investment Fund acquires 5% stake in Nintendo

Saudi Arabia, through its $500 billion Public Investment Fund, has acquired a 5.01% stake in Japanese gaming giant Nintendo.

The investment: The PIF has made a number of targeted investments in gaming and esports.

  • The investment was uncovered through a filing to Japan's Finance Ministry, as per Bloomberg.
  • Through the acquisition of the minority stake, the Saudi fund is now the fifth-largest shareholder in Nintendo.
  • Nintendo isn't the first gaming company that's listed in Japan in which PIF has acquired a stake, however. The fund owns more than 5% of both Street Fighter developer Capcom and Nexon.

The game: Saudi Arabia is attempting to change its public image through several means, including gaming.