Saudi Arabia Ultimately Lowers Stake In Nintendo

October 8

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October 8, 2024

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.

READ MORE: Nintendo Shuts Down Another Popular Switch Emulator

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.

For more Insider Gaming, read about what classic game is finally coming to PC after 14 years. And don’t forget to sign up for our weekly newsletter.

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