Saudi Arabia’s PIF trims Nintendo stake amid future investment plans

Saudi Arabia’s Public Investment Fund (PIF) has slightly reduced its stake in Nintendo Co., selling 17.3 million shares between August 21 and October 1. This move decreased its ownership from 8.58 per cent to 7.54 per cent, according to a filing with Japan’s Finance Ministry.

Despite this reduction, PIF’s vice chairman, Prince Faisal bin Bandar, has hinted at the fund’s potential for future investments in the Kyoto-based gaming giant. This aligns with Saudi Arabia’s broader strategy to diversify its economy away from oil and establish the Middle East as a global entertainment hub.

PIF, which managed $760 billion in assets last year, is a significant investor in the gaming industry. In addition to its stake in Nintendo, the fund holds positions in other Japanese gaming companies, including Nexon, Capcom, and Koei Tecmo.

Attribution: Bloomberg

Subediting: Y.Yasser