Nintendo and other Japanese game company stocks on the rise after Saudi Arabia’s PIF considers increasing stakes 

As reported by Bloomberg Japan, recent comments made by Saudi Arabian Prince Faisal bin Bandar bin Sultan Al-Saud have given a boost to a number of Japanese video game companies’ stocks. 

In an interview with Kyodo News at Tokyo Game Show 2024, the prince revealed that Savvy Games – a fund group backed by Saudi Arabia’s Public Investment Fund (PIF) has its sights on possibly increasing stakes in Nintendo and other Japanese game companies. Back in May 2022, the fund had acquired a 5.01% stake in Nintendo, and as of 2024, the fund owns 8.6% of Nintendo.  It also holds approximately 9% of Koei Tecmo Holdings’ shares. 

In response to the news, Nintendo’s stock price temporarily rose by 3.9% to 8,042 yen from the previous trading day, which was its largest jump since September 26. Similarly, Capcom’s stock price rose by 2% to 3,350 yen, Koei Tecmo rose by 2.8% and Bandai Namco Holdings rose by 3.9%. 

In comment to Bloomberg Japan, Japanese analyst Ryotaro Sawada said that the Japanese game and anime markets are gradually expanding and that there are good reasons for Saudi Arabia to make investing in Japanese companies a part of its national policy. Meanwhile, Prince Faisal bin Bandar bin Sultan Al-Saud has emphasized that he is in no rush to make investments and that future purchases will be friendly. 

On a related note, earlier this year, the Japanese game developer SNK said that 100% of its shares have come to be owned by Saudi Arabian Prince Prince Mohammed bin Salman’s foundation, but that this has not affected their creative output or identity as a Japanese company.

Amber V
Amber V

Novice Editor-in-Chief since October 2023.

She grew up playing Duke Nukem and Wolfenstein with her dad, and is now enamored with obscure Japanese video games and internet culture. Currently devoted to growing Automaton West to the size of its Japanese sister-site, while making sure to keep news concise and developer stories deep and stimulating.

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