A new filing suggests that Saudi Arabia’s Public Investment Fund (PIF) increased its stake in Nintendo from 5.01% to 6.07% in January.
Trading View (thanks, VGC) reported that this second increase raises the sovereign wealth fund’s Kyoto company investment to 7.08%.
In recent years, the government-run fund has invested across the video game industry, including a $1 billion stake in Embracer Group and investments in SNK, Capcom, Activision, EA, and Take-Two.
Nintendo caught the PIF’s attention in May 2022. Nintendo said it learned of the investment from news reports and would not comment on shareholders.
Due to Saudi Arabia’s human rights record, Amnesty International has criticized the PIF’s recent investments in many industries.