Saudi Arabia’s Public Investment Fund buys 5% of Nintendo

The Saudi Public Investment Fund bought 5.01% of the shares of Nintendo, in an effort to increase its investment in video games in Japan.
A statement said that the purchase of the stake in Nintendo is an investment, and after the fund bought stakes in video game companies Nixon, Capcom and Koi Tecmo.

The fund, headed by Saudi Crown Prince Mohammed bin Salman, is a major investor in the SoftBank Group’s Vision Fund, with assets of $100 billion, and is investing independently as part of Prince Mohammed’s plan to transform the Saudi economy.

The Saudi sovereign fund, which manages more than $600 billion in assets, also bought a stake in Activation Blizzard, publisher of the Call of Duty game that Microsoft said in January it would buy.

The fund established its own video and electronic games company, Savvy Gaming.