Japanese news site The Nikkei reports that Nintendo shares have now hit record highs thanks in part to speculation that oil money will buy more shares of the Japanese video game maker through Saudi Arabia’s public investment fund, the Public Investment Fund. PIF currently acquires both Japanese video game development studios and anime studios. The public investment fund already owns 8.58% of Nintendo shares and apparently wants more.
Nintendo shares temporarily reached 7,902 – 5% higher compared to the previous day. The company’s market capitalization exceeded 10 trillion yen ($69 billion) for the first time since November 2007.
Nikkei
