Investment fund increases its stake in “Nintendo”

Nintendo Co., Ltd. said on Wednesday that the Public Investment Fund increased its stake in Japan’s Nintendo video games from 6.07% to 7.08%. Last January, the Public Investment Fund increased its stake in Nintendo from 5.01% to 6.07%. The Public Investment Fund had recently acquired stakes in Japanese video game companies ‘Nexon’, ‘Capcom’ and ‘Kei Tecmo’.

The PIF recently made more investments in Asian tech companies, participating in Korea’s pre-IPO funding of Kakao Entertainment, an app group that publishes popular anime shows and novels online, which raised $930 million from investors.

The company, a unit of Korean social media giant Kakao, said in January that it had raised 1.2 trillion won by issuing about 2.26 million shares priced at 255,116 won to the Saudi Public Investment Fund and the Singapore-based Pwarp Investment in one of the largest financing rounds in South Korea.

Kakao Entertainment will use the capital to expand its content. The company has produced a number of shows for Netflix Inc, capitalizing on the growing interest in Korean content from ‘K-pop’ to movies since the advent of ‘Squid Game’.

and locally; Yesterday, Tuesday, the Public Investment Fund announced the investment for a total value of 5 billion riyals by subscribing new shares through a capital increase representing minority stakes in four national companies operating in the construction and construction services, namely: “Nesma & Partners Contracting Company.” Al-Saif Engineering Contracting Company, Al-Bawani Holding Company and Mabanee General Contractors Company, which will help enable the building and construction services sector and strengthen supply chains premises and supply for various current and future projects in the Kingdom.