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Saudi Arabia’s Public Investment Fund (PIF) is considering raising its stakes in Nintendo and other Japanese gaming companies, Kyodo News reported on Saturday.
Prince Faisal bin Bandar bin Sultan Al Saud, vice chair of the sovereign wealth fund’s gaming unit, disclosed the plan in an interview with Kyodo.
He told the Japanese news agency that PIF is not in a rush to increase its stakes, and that investments would be made in a friendly way. The Kyodo report did not specify what he meant by “friendly”.
PIF currently owns 8.58% of Nintendo and has stakes in video game companies Nexon, Capcom, and Koei Tecmo, Kyodo said.
About Nintendo
Nintendo is a Japanese multinational consumer electronics and video game company founded in 1889. Originally, Nintendo produced handmade hanafuda playing cards. However, it evolved into a toy company, and eventually, a video game developer and publisher.
Some of Nintendo’s iconic products and franchises include:
– Nintendo Entertainment System (NES)
– Super Nintendo Entertainment System (SNES)
– Nintendo 64 (N64)
– GameCube
– Wii
– Wii U
– Switch
– Super Mario
– The Legend of Zelda
– Pokémon
– Donkey Kong
– Metroid
– Kirby
Nintendo is known for its innovative gaming consoles, beloved characters, and family-friendly entertainment.
About PIF
Saudi Arabia’s Public Investment Fund (PIF) is the country’s sovereign wealth fund, established in 1971 to manage the nation’s oil revenues. PIF’s primary objectives:
1. Invest in strategic sectors to diversify the economy.
2. Support economic development and growth.
3. Increase non-oil revenues.
4. Create jobs for Saudi nationals.
PIF’s key focus areas:
1. Renewable energy
2. Infrastructure
3. Tourism
4. Technology
5. Healthcare
6. Education
7. Real estate
8. Manufacturing
Some notable PIF investments:
1. Saudi Aramco (oil giant)
2. SoftBank Vision Fund
3. Uber
4. Tesla
5. Lucid Motors
6. Jio Platforms (Indian telecom)
7. Saudi Arabia’s megaprojects (e.g., NEOM, Qiddiya)
PIF aims to increase its assets under management from $500 billion to $1.1 trillion by 2025.
PIF’s goals align with Saudi Arabia’s Vision 2030, a comprehensive plan to redue dependence on oil exports, promote economic diversification, and develop various sectors.
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