Saudi Arabia’s PIF Is Reportedly Now Nintendo’s Biggest Outside Investor

Image: Nintendo Life

Update [Fri 17th Feb, 2023 13:50 GMT]: Following stories earlier this week of further increases in the PIF’s investment in Nintendo, Bloomberg now reports that Saudi Arabia’s Public Investment Fund now holds 8.3% of Nintendo, according to filings. This makes it the company’s largest shareholder outside of Japan.

According to Bloomberg’s data, this puts the PIF holding ahead of Japan’s Government Pension Investment Fund stake in Nintendo, and comes second only to Nintendo’s own shareholding.

Original Story [Thu 16th Feb, 2023 11:30 GMT]: After reports in January that Saudi Arabia’s Public Investment Fund (PIF) upped its stake in Nintendo from 5.01% to 6.07%, a new filing suggests that the percentage has been increased again by more than a point.

As reported by Trading View (thanks, VGC), this second increase takes the sovereign wealth fund’s overall investment in the Kyoto company to 7.08%.

The government-run fund has been investing across the board in the video game sector in recent years, including a $1 billion stake in Embracer Group and investments in a host of other prominent companies in the industry, including SNK, Capcom, Activision, EA, and Take-Two.

The PIF’s interest in Nintendo specifically began back in May 2022. Nintendo stated at the time that it learned of the investment from news reports and would not comment on individual shareholders.

The PIF’s investment across a wealth of industries in recent times has drawn criticism due to Saudi Arabia’s human rights record, which is tracked and reported on by organisations such as Amnesty.

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