The Saudi Public Investment Fund (PIF) decreased its stake in Nintendo to 7.54% from 8.58%, a day after reports of the fund potentially raising its investment. This move comes following statements by a senior PIF executive suggesting an interest in increasing their stake in Nintendo and other Japanese gaming companies.
Saudi Arabia 's Public Investment Fund trimmed its holding in Nintendo Co., a day after reports that a senior executive at the kingdom's mammoth sovereign wealth fund said it was considering upping its stake.
Nintendo has kept players interested in its ageing Switch console series through key games with characters such as Super Mario and Zelda.Saudi Arabia's Public Investment Fund trimmed its holding in Nintendo Co., a day after reports that a senior executive at the kingdom's mammoth sovereign wealth fund said it was considering upping its stake.
Prince Faisal bin Bandar bin Sultan al-Saud — vice chairman at Savvy Games Group, the PIF's gaming-focused subsidiary — was asked about a potential increased stake in Nintendo and other Japanese gaming companies while attending the Tokyo Game Show in late September. Nintendo has been grappling with a slowing console gaming market and an aging product by way of its flagship Switch hybrid console — its best-selling gear ever, which sold 143.4 million units worldwide. At seven years old, it's lost some of its sheen, as gamers look to more advanced machines from the likes of Microsoft and Sony.
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