The Saudi Arabian Public Investment Fund (PIF) has acquired a 5.01% stake in Nintendo Co. as Bloomberg has reported. Said to be done for "investment purposes," as the report states, this marks the third Japanese games company that the PIF has invested in to date.
It's also said that this investment will make the Saudi-based fund the fifth-largest shareholder in Nintendo, with this coming after the PIF also acquired shares in Capcom Co. and Nexon Co.
Nintendo has yet to share an official response to the investment, but in the report from Bloomberg, it is said by a Nintendo spokesperson that the company discovered the investment through news reports.
As for how this will affect Nintendo remains unclear, but this does come as Nintendo is on track for a steady year, with Switch sales expected to drop below the original anticipated number.