Saudi Arabia’s Public Investment Fund has taken a 5.01% stake in Nintendo.
The PIF said that it acquired this stake “for investment purposes,” Bloomberg reported.
The publication added that a spokesperson said that Nintendo learned about the investment from news reports and didn’t want to comment on individual shareholders.
Earlier in 2022, the Saudi Arabian fund also acquired a stake of more than 5% in Capcom and Nexon.
In April, it also acquired a 96% stake in King of Fighters developer SNK.
Back in 2021, the PIF invested over $3 billion of stock in Activision Blizzard, Electronic Arts, and Take-Two Interactive.
