Last Updated on February 17, 2023 by techtudum
In a surprise move, the Saudi Arabian Public Investment Fund’s Savvy Games Group has increased its stake in Nintendo, becoming the largest outside shareholder in the company. The move represents a significant shift in the balance of power within Nintendo, and has sparked speculation about the future of the company.
The Saudi Arabian Public Investment Fund’s Savvy Games Group first invested in Nintendo in early 2023, acquiring a stake of around 6%. Since then, the company has continued to increase its stake, and now holds 8.3% of Nintendo’s shares. This makes it the largest outside shareholder in the company, surpassing other major investors such as Capital Research and Management and The Vanguard Group.
The move comes as Nintendo has been struggling to maintain its position in the highly competitive video game market. While the company’s Switch console has been a major success, with more than 90 million units sold worldwide, Nintendo has faced increased competition from rivals such as Sony and Microsoft, as well as from mobile games and streaming services.
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The increased stake by the Saudi Arabian Public Investment Fund’s Savvy Games Group could provide Nintendo with a much-needed boost, as the company seeks to maintain its market share and continue innovating in the video game space. It also represents a significant shift in the balance of power within Nintendo, as the Saudi Arabian Public Investment Fund’s Savvy Games Group becomes a major player in the company’s decision-making process.
