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