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

TOKYO  – Saudi Arabia’s Public Investment Fund (PIF) has increased its stake in Japan’s Nintendo Co Ltd to 6 percent, 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 percent to 6.07 percent, according to the ownership report filed with Japanese regulators.

PIF revealed its 5- percent 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, Capcom, and Koei Tecmo.

Nintendo shares were down 1.8 percent in the morning.