Saudi wealth fund may raise stakes in Nintendo, other game firms

Prince Faisal bin Sultan Al-Saud, Vice-Chairman of Savvy Games Group and Chairman of Saudi Esports Federation

Saudi Arabia's Public Investment Fund (PIF) may boost its stakes in Nintendo Co. and other Japanese gaming companies, Kyodo News reported, citing Prince Faisal bin Sultan Al-Saud, PIF's Savvy Games Group Vice-Chairman.

 

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The sovereign wealth fund is working on transferring its holdings in the Japanese companies to Savvy Games Group to create greater synergies, he said.

 

There are always opportunities for additional investments, the prince stated.

 

PIF owns 8.58% of Nintendo, and 8.97% of Koei Tecmo Holdings Co., according to the filings by the companies with Japan’s Finance Ministry. The. PIF also holds stakes in game software developers such as Nexon Co. and Capcom Co.

 

Crown Prince Mohammed bin Salman, Chairman of Savvy Games Group, unveiled in September 2022 the Group’s strategy, which included injecting SAR 142 billion worth of investments, data compiled with Argaam showed.

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