Saudi Arabia's Public Investment Fund increases their stake in Nintendo to 8.26%
Becoming the largest foreign shareholder
Saudi Arabia’s Public Investment Fund (PIF) has increased their stake in Nintendo to 8.26%, making them the largest foreign shareholder of the big red. This comes just two days after the PIF increased their stake to 7.08%, a move that could have been motivated by the recent decline in Nintendo’s stock prices following the latest financial results. The PIF is clearly confidence in the future prospects of Nintendo. They also have also increased their stake in EA and Take-Two Interactive from 5.1% to 5.8% and 5.3% to 6.8%, respectively. Nintendo themselves are the only ones now that own more shares than the PIF.
To avoid any confusion, this investment does not change anything in how Nintendo operates unless Nintendo themselves announces some changes due to an alliance like they did when they collaborated with DeNA.
Remember, if they increase it more than 10%, Nintendo can and will do plans for a hostile takeover.
I remember someone saying that in another comments section. Do you have a source? I’d very much like to know that there’s a contingency plan.
This is quickly becoming my least favorite genre of GoNintendo story.
Here is the law that Japan has regarding foreigners buying stock from Japanese companies.
And this is what Nintendo says if they intend to have a hostile takeover.