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Saudi Arabia’s PIF Adds to Games Push With 5% Nintendo Stake

  • Saudi Fund has put money into Japan’s Capcom and Nexon
  • PIF set to become fifth-largest shareholder in Kyoto firm
Tokyo Game Show Begins

Photographer: Tomohiro Ohsumi/Getty Images

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Saudi Arabia’s Public Investment Fund took a 5.01% stake in Nintendo Co., its third investment in a Japanese games company as the industry consolidates. 

The PIF, as the $500 billion fund is known, said the Nintendo purchase was made for investment purposes, according to a filing to Japan’s Finance Ministry. That is the same reason it has given with previous investments and the holding is set to make the Saudi fund Nintendo’s fifth-largest shareholder, according to data compiled by Bloomberg.