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After reports in January that Saudi Arabia’s Public Investment Fund (PIF) upped its stake in Nintendo from 5.01% to 6.07%, a new filing suggests that the percentage has been increased again by more than a point.
As reported by Trading View (thanks, VGC), this second increase takes the sovereign wealth fund’s overall investment in the Kyoto company to 7.08%.
The government-run fund has been investing across the board in the video game sector in recent years, including a $1 billion stake in Embracer Group and investments in a host of other prominent companies in the industry, including SNK, Capcom, Activision, EA, and Take-Two.
The PIF’s interest in Nintendo specifically began back in May 2022. Nintendo stated at the time that it learned of the investment from news reports and would not comment on individual shareholders.
The PIF’s investment across a wealth of industries in recent times has drawn criticism due to Saudi Arabia’s human rights record, which is tracked and reported on by organisations such as Amnesty.
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