Saudi Arabia reinforces its investment and already owns more than 6% of the Japanese company

The video game industry has whetted the appetite of many investors. The strong dividends that this branch of entertainment is paying has everyone with long teeth for getting their share of this delicious cake; they have even come to the party countries like Saudi Arabia, which has just increased its participation in Nintendo.

Yes, it is strange to see a State dabbling in this type of business, but it should no longer surprise us. Saudi Arabia becomes the fifth largest shareholder in Nintendo with 6.07% of shares. They previously controlled 5%, a purchase they made in May 2022. This commercial action was carried out by the government of the Arab country through its Public Investment Fund.

These decisions have been taken by Prince Mohammed bin Salmancurrent vice minister, heir to the government and president of the Council for Economic Affairs and Development and the Council for Political Affairs and Security.

Salman is a controversial figure and his reputation has made leading Western countries frown on his business moves. Salman is accused of the cruel murder of the journalist of the Washington Post Jamal Khashoggi and for his position on Human Rights; he is in favor of homosexuality being punished under penalty of death, for example.

It will be a controversial personality… but “business is business”, right?

In their defense, Salman and the Saudi government entity argue that these commercial movements correspond to the exploration of new economic sources in the face of a future decline in the oil and fossil fuel markets. The Arab nation has not only invested in Nintendo, but also in CapcomNexon, Koei Tecmo, EA, Activision BlizzardTake-Two and SNK, where they are majority shareholders.

For now, Nintendo has not officially referred to this purchase; unlike that May 2022, where they indicated that they had found out from the press that one of its shareholders was the State of Saudi Arabia itself.