Saudi Arabia’s Public Investment Fund has officially acquired a 5.01% stake in Nintendo, according to a filing made with Japan’s Finance Ministry. The move makes the Saudi Arabian sovereign wealth fund one of the Japanese gaming giant’s largest shareholders. The fund’s investment comes as Nintendo gears up for the launch of its much-anticipated Switch console, which is set to hit store shelves this March. While the size of the investment has not been disclosed, it is estimated to be worth billions of dollars. The Saudi Arabian government has been seeking to diversify its investments in recent years, and the acquisition of a stake in Nintendo is seen as a sign of its continued commitment to that goal. With its deep pockets and long-term horizon, the Public Investment Fund is an ideal partner for Nintendo as it looks to drive future growth.
As Bloomberg reports, the Saudi Arabian Public Investment Fund (PIF) has made a number of large investments in the gaming industry in recent years. In 2018, the PIF spent $1 billion to acquire a 5% stake in Capcom and Nexon, and in 2019 it acquired 7.4 million shares in Electronic Arts for $1.06 billion. These investments come as part of the PIF’s goal to diversify its portfolio and invest in high-growth industries. The gaming industry is expected to continue to grow rapidly in the coming years, making it an attractive target for the PIF. With its latest investment in Gaming World Entertainment, the PIF now has a significant presence in the gaming industry.
The Saudi Arabian Public Investment Fund has recently acquired a 5% stake in Nintendo, according to Bloomberg. This makes the fund the fifth-largest shareholder of the Japanese gaming company. The deal is significant not only because of the size of the investment, but also because of the close relationship between Saudi Arabia and Japan. The two countries have been allies for many years, and this new partnership will likely strengthen that bond. It is also noteworthy that the fund already owns 96% of SNK, the Japanese developer responsible for popular fighting games such as Samurai Shodown and King of Fighters. With this new investment, the Public Investment Fund is poised to become a major player in the global video game industry.
Saudi Arabia’s Public Investment Fund (PIF) is the kingdom’s sovereign wealth fund, with over $300 billion in assets. The PIF is tasked with investing Saudi Arabia’s oil wealth and diversifying the economy away from reliance on oil revenues. The fund has made major investments in global companies such as Uber and SoftBank, and has also poured billions of dollars into domestic projects such as a new mega-city called NEOM. However, the PIF has come under fire due to Saudi Arabia’s poor record on human rights. In particular, there have been concerns over the killing of journalist Jamal Khashoggi, who was a critic of the Saudi government. Crown prince Mohammed bin Salman, who chairs the PIF, has been accused of ordering Khashoggi’s murder, although he denies any involvement. Despite these concerns, the PIF remains a key part of Saudi Arabia’s economic reform plans.
Nintendo has been one of the most successful video game companies in recent years, thanks in large part to its hit console, the Nintendo Switch. However, the company is now facing a new challenge: a global shortage of semiconductors. This shortage has caused Nintendo to revise its sales forecast for the Switch, and it now expects to sell 21 million units through the current fiscal year, less than the original estimate of 30 million. While the company believes that the shortage will ease eventually, it is unclear when that will happen. In the meantime, Nintendo is working to ensure that its existing customers are able to purchase the consoles they want. The company is also looking into alternative sources of semiconductors, in case the shortage persists. Despite these challenges, Nintendo remains optimistic about the future of the Switch and its other products.