Public Investment Fund, which bought SNK and has made investments in Capcom or Electronic Arts, has invested about 3 billion dollars in Mario’s company.
Saudi Arabia’s Public Investment Fund, an investment fund of Crown Prince Mohammed bin Salman, has made numerous investments in major video game developers and publishers. After acquiring all of SNK, his latest move is the purchase of 5.01% of Nintendo shares for about $3 billion. The news was announced by Japan’s Finance Minister, as reported by Bloomberg .
The figure is similar to the investments that this group has made in Capcom, Electronic Arts, Take-Two, Nexon and Activision -which will soon be bought by Microsoft- . This movement will make Public Investment Fund the fifth largest shareholder of Nintendo , a movement that would only be an investment -and not the intention to acquire the company-, as was done with other studies.
PIF has invested in the Hollywood film industry and sports – they bought the Newcastle United club and have set foot in Formula 1 or horse racing – but it seems that now they have their sights set on game developers, a business that does not stop growing and more after the COVID pandemic and the new leisure customs. In February they invested just over 5% in Capcom and Nexon . ” Saudi Arabia has been increasing its efforts to create its own content industry , and this series of investments in Japanese video game companies is probably a way to learn from Japan,” said Hideki Yasuda, an analyst at Toyo Securities.
A Nintendo spokesperson told Bloomberg that they learned of the information from the news and declined to comment on specific shareholders. The purchase of SNK went quite unnoticed and was not officially announced by the company, probably due to the bad reputation of the heir, accused of crimes of murder and torture of journalist Jamal Khashoggi in 2018, in addition to the constant violations of human rights in the country .