Bloomberg reports that Saudi Arabia’s Public Investment Fund (PIF) has purchased a stake in Nintendo. The state set up the PIF scheme, which has been gradually purchasing stakes in video game companies over the last two years. This includes investments in Capcom, EA, and Activision Blizzard.
The PIF is an investment fund for the country’s long-term financial interests as it seeks to transition to more sustainable sources. Saudi Arabi used the PIF scheme to acquire a 5.01 percent stake in Nintendo. Nintendo has stated that they only learned of the purchase through news reports and have refused to make any public comments about it.
While it may appear strange that Nintendo was unaware, the company’s shares are publicly traded without Nintendo’s knowledge of the exchanges. Anyone could buy a share and Nintendo would be unaware. The 5% stake is a very tiny portion that means nothing to Nintendo.