Saudi Arabia's wealth fund raises Nintendo stake to 6%
12/01/2023 02:51
TOKYO, Jan 12 (Reuters) - Saudi Arabia's Public
Investment Fund (PIF) has increased its stake in Japan's
Nintendo Co Ltd 7974.T to 6%, a filing showed on Thursday,
reflecting the sovereign wealth fund's growing exposure to the
Japanese video gaming industry.
PIF's stake in the Kyoto-based company has risen from 5.01%
to 6.07%, according to the ownership report filed with Japanese
regulators.
PIF revealed its 5% stake in Nintendo in a regulatory filing
in May last year, stating that it was made for investment
purposes. It has also taken stakes in video game companies Nexon
3659.T , Capcom 9697.T , and Koei Tecmo 3635.T . urn:newsml:reuters.com:*:nL2N2XA0KR
Nintendo shares were down 1.8% in the morning.
(Reporting by Makiko Yamazaki; editing by Uttaresh.V)
((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))