{"id":38128,"date":"2024-10-09T18:28:25","date_gmt":"2024-10-09T09:28:25","guid":{"rendered":"https:\/\/automaton-media.com\/en\/?p=38128"},"modified":"2024-11-20T18:46:17","modified_gmt":"2024-11-20T09:46:17","slug":"saudi-arabia-pif-reduces-stake-in-nintendo-despite-recent-reports-suggesting-it-would-increase-it","status":"publish","type":"post","link":"https:\/\/automaton-media.com\/en\/news\/saudi-arabia-pif-reduces-stake-in-nintendo-despite-recent-reports-suggesting-it-would-increase-it\/","title":{"rendered":"Saudi Arabia\u2019s PIF reduces stake in Nintendo, despite recent reports suggesting it would increase it\u00a0"},"content":{"rendered":"\n

Earlier this week, positive comments by Saudi Arabian Prince Faisal bin Bandar bin Sultan Al-Saud in an interview with Kyodo News hinted that the PIF would be buying more shares in Japanese video game companies (related article<\/a>). This boosted the value of a number of Japanese game companies\u2019 stocks- including Nintendo. However, in a sudden twist, it was revealed that PIF has actually been selling some of its Nintendo shares over the past few months.\u00a0<\/p>\n\n\n\n

PIF is Saudi Arabia\u2019s Public Investment Fund. In recent years it has invested widely in the video game industry, including in companies like Activision Blizzard, Nintendo, Capcom, Nexon and Koei Tecmo. Until recently, it held a 8.58% stake in Nintendo. <\/p>\n\n\n\n

The Kyodo News interview<\/a>, conducted at Tokyo Game Show in September and first published in Japanese on October 5, prominently referenced the prince\u2019s comment that \u201c”It’s always a possibility” that the PIF will invest more in Japanese game companies. However, in the same interview, he also stated\u00a0“We don’t want to rush into anything.” It seems that investors were quick to react positively to this reserved wording, causing Japanese video game company stocks to rise. Nintendo\u2019s share value reached a peak of 8,140yen in the afternoon of Monday October 8.\u00a0<\/p>\n\n\n\n

However, a Japanese regulatory filing released after the market closed on October 8\u00a0revealed that the PIF had actually offloaded some of its Nintendo shares. The stake held by PIF fell to 7.54% from 8.58%- a drop of just over 1%. According to Bloomberg<\/a>, these shares were sold during the period between\u00a0August 21 to October 1, 2024.\u00a0<\/p>\n\n\n\n

As a result, Nintendo\u2019s stocks have fallen today to 7,849yen (source: Game Biz<\/a>). However, PIF still remains one of Nintendo\u2019s major shareholders. Even though the reason for selling some of its shares is not known, it seems unlikely that the PIF has changed its outlook on fostering the video gaming industry. <\/p>\n","protected":false},"excerpt":{"rendered":"

Saudi Arabia\u2019s Public Investment Fund sold over 1% of its shares in Nintendo over the past few months but remains a major shareholder.<\/p>\n","protected":false},"author":61,"featured_media":38130,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_gspb_post_css":"","footnotes":""},"categories":[3],"tags":[261,18,33],"class_list":["post-38128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-financial-news","tag-global-news","tag-nintendo"],"blocksy_meta":[],"yoast_head":"\nSaudi Arabia\u2019s PIF reduces stake in Nintendo, despite recent reports suggesting it would increase it\u00a0 - AUTOMATON WEST<\/title>\n<meta name=\"description\" content=\"Saudi Arabia\u2019s Public Investment Fund sold over 1% of its shares in Nintendo over the past few months but remains a major shareholder.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/automaton-media.com\/en\/news\/saudi-arabia-pif-reduces-stake-in-nintendo-despite-recent-reports-suggesting-it-would-increase-it\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi Arabia\u2019s PIF reduces stake in Nintendo, despite recent reports suggesting it would increase it\u00a0 - 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