Saudi Arabia reduces stake in Nintendo

Despite a recent report that made the rounds over the weekends that Saudi Arabia’s Public Investment Fund (PIF) could increase its stake in Nintendo, its holding has actually decreased.

A regulatory filing in Japan shows that the PIF has pulled back to 7.54 percent. Previously, the stake was at 8.58 percent.

Prince Faisal bin Bandar bin Sultan al-Saud, the vice chairman at Savvy Games Group, said at the Tokyo Game Show that increasing stake in Nintendo as well as other Japanese gaming companies is “always a possibility.” However, that comment wasn’t as significant as many outlets made it out to be. That remark was noncommittal and simply leaving the door open to future moves – and it was not a sign of imminent action.

In February 2023, Saudi Arabia made the news for becoming the largest stakeholder in Nintendo (read about that here). Since then, its stake gradually increased further – but now as noted today, it’s gone down a full percentage point.

Thanks to CNBC for today’s news.