It looks like Saudi Arabia wasn’t looking to increase its stake in Nintendo. Instead, the country, through its Savvy Games Group, has reduced its stake in the company.
On Monday, a report from Kyodo News claimed that Saudi Arabia’s Public Investment Fund (PIF) was looking at increasing its shares in Nintendo. The outlet ultimately updated their story to say they were looking at all Japanese gaming companies as opposed to just Nintendo. Now, 24 hours later, CNBC has come out with a report stating the opposite.
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According to CNBC, Saudi Arabia’s PIF has reduced its stake in Nintendo to 7.54% from 8.58%. The source is a Japanese regulatory filing from Tuesday.
At 7.54%, it remains one of the largest shareholders in Nintendo. It’s still higher than the original 5.01% it owned when it first bought in to the company in 2022.
What do you think of Saudi Arabia ultimately lowering their stake in Nintendo rather than increase it? Let us know in the comments, and join the discussion in the Insider Gaming Forum.
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This is worrisome it could mean they foresee negativity for Nintendo or it could mean the opposite. I do think they’re going to move on Capcom though and they want to fully acquire SNK too.
Savvy Gaming the Saudi company has been saying since 2022 they plan to acquire a big publisher but it’s 2024 and they still haven’t I don’t know what’s going on over there?
They maybe have slightly pulled from Nintendo to go after Bandai Namco. Honestly they should buy Koei Tecmo bring Itagaki back to Ninja Gaiden and Dead Or Alive.
So they let fly a rumor that they wanted more Nintendo stock, driving up the price of that stock, then sold 1%of the overall stock of Nintendo.