Saudi wealth fund takes 5% Nintendo stake, adds to video games push

Saudi Arabia's Public Investment Fund (PIF) has taken a 5.01% stake in Nintendo Co Ltd as the sovereign wealth fund increases its exposure to the Japanese video gaming industry.

The investment in the Kyoto-based group company was made for investment purposes, a filing said, and comes as PIF has also taken stakes in video game companies Nexon, Capcom and Koei Tecmo.

PIF, which is chaired by Crown Prince Mohammed bin Salman, is an anchor investor in SoftBank Group Corp's $100 billion Vision Fund but also invests independently as part of the prince's plans to transform the country's economy.

The sovereign wealth fund, which