Saudi Arabia's wealth fund raises Nintendo stake to 6%

Different models of the Nintendo Switch are seen on display in a GameStop in Manhattan, New York
Different models of the Nintendo Switch are seen on display in a GameStop in Manhattan, New York, U.S., December 7, 2021. REUTERS/Andrew Kelly

TOKYO, Jan 12 (Reuters) - Saudi Arabia's Public Investment Fund (PIF) has increased its stake in Japan's Nintendo Co Ltd (7974.T) to 6%, a filing showed on Thursday, reflecting the sovereign wealth fund's growing exposure to the Japanese video gaming industry.

PIF's stake in the Kyoto-based company has risen from 5.01% to 6.07%, according to the ownership report filed with Japanese regulators.

PIF revealed its 5% stake in Nintendo in a regulatory filing in May last year, stating that it was made for investment purposes. It has also taken stakes in video game companies Nexon (3659.T), Capcom (9697.T), and Koei Tecmo (3635.T). read more

Nintendo shares were down 1.8% in the morning.

Reporting by Makiko Yamazaki; editing by Uttaresh.V

Our Standards: The Thomson Reuters Trust Principles.

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