Saudi Arabia’s PIF has increased its stake in Nintendo, the iconic Japanese gaming company. The Saudi sovereign wealth fund increased its stake in Nintendo to 7.1% from around 6% previously.
Last month, PIF increased its stake in Nintendo from 5% to 6%. The Mario creator has a market capitalisation of approximately $48.25 billion, making PIF’s share worth approximately $3.4 billion. PIF also has a stake in Nexon, Koei Tecmo, and Capcom, the creators of the Resident Evil and Streetfighter franchises. While it continues to invest in Asian stocks, PIF performed poorly in the US market near the end of last year.