Saudi Arabia Boosts Nintendo Holdings to 6%

Saudi Arabia has bolstered its investment in Nintendo, increasing its stake to 6%. According to a report filed with Japanese regulators by the country's Public Investment Fund and cited by Reuters, the fund's stake now stands at 6.07%, up from 5.01%. This move follows Saudi Arabia's previous investments in the gaming industry, including a $1 billion stake in Embracer Group, equivalent to approximately 8.1% of the company's shares. The country's Public Investment Fund has also acquired significant stakes in Capcom and Nexon, exceeding 5% in each, with a combined value of over $1 billion. Additionally, it has nearly complete ownership of SNK, the developer of King of Fighters, with a 96% stake.