Saudi Arabia is seeking to acquire a larger stake in Japanese developers

Update – Monday 7 October: Savvy Games Group says its interest is not only in acquiring a larger stake in Nintendo, but in all Japanese gaming companies.

Furthermore, it would like to emphasize that Prince Faisal is the Vice Chairman of Savvy Games Group and not the official spokesperson for the Public Investment Fund.

Original story follows.

Original story, October 6: The Saudi sovereign wealth fund is considering increasing its 8.58 percent stake in Nintendo.

according to Kyodo News And spotted before VGCvice president of Savvy Games Group, confirmed plans to diversify its hitherto oil-dependent economy by strengthening its gaming and entertainment business.

The fund – which also owns stakes in Capcom, Nexon, Nintendo, Take Two Interactive and Activision Blizzard – is currently transferring its shares in these gaming companies to its subsidiary Savvy Games Group.

It also has an interest in EA and took a £840m stake in Embracer Group in 2022, having reportedly “withdrew” from its $2bn “key strategic partnership” with Embracer earlier this year, prompting the latter to… into a state of chaos that led to a stunning collapse. Collapse again in May.

Even Hideo Kojima raised eyebrows after meeting Prince Faisal bin Bandar bin Sultan Al Saud last year.

“There are always opportunities,” the VP said at Tokyo Game Show, but stressed: “It’s important to keep communication going so you get there the right way. We don’t want to rush anything.”

The Saudi Public Investment Fund is also involved in a number of other entertainment businesses, including sports and films.

The news comes after several major developments for Saudi Arabia and its gaming portfolio, including hosting the upcoming eSports Olympics and the new Overwatch Champions Series, or OWCS.

Savvy Gaming Group is a subsidiary of the Public Investment Fund, an initiative headed by Prince Mohammed bin Salman. The CIA has blamed the highly controversial figure for the assassination of Washington Post journalist Jamal Khashoggi in 2018. Meanwhile, his rule of Saudi Arabia has maintained the country’s poor human rights record, with the continued criminalization of homosexuality and penalties ranging From flogging to prison. death penalty.