Saudi Arabia’s Public Investment Fund (PIF) is considering increasing its stake in Nintendo and other gaming companies, according to an interview between Prince Faisal bin Bandar bin Sultan Al Saud and Kyodo News.
Speaking to Kyodo, Prince Faisal, vice president of PIF’s gaming division, said further investment was being considered, but that they were in no rush and would invest in a “friendly” manner.
PIF currently owns 8.58% of Nintendo shares, while it has stakes in Nexon (10.53%), Keoi Tecmo (8.99%) and Capcom (6.60%).
The driver of PIF’s investment is the desire to move away from oil, the primary national resource and export, and move to other, foreign markets.
Additionally, both Prince Faisal and Crown Prince Mohammed bin Salman – the de facto ruler of Saudi Arabia – are reportedly gamers, with the latter said to be a fan of Activision’s Call of Duty game series.
