Nintendo Stock Rises as Saudi Wealth Fund Considers Increasing Stake

5 days ago

Nintendo's stock price saw an increase of up to 3.9% following a report that Saudi Arabia's sovereign wealth fund is considering boosting its holdings in the company and other gaming firms. This information comes from an interview with Prince Faisal bin Bandar, the vice chairman of Savvy Games Group, a subsidiary of the fund.

Alongside Nintendo, other gaming stocks also rose in the market. Capcom's stock increased by 2%, Nexon climbed by 3%, and both Koei Tecmo and Bandai experienced a 2.1% rise. The Saudi Public Investment Fund currently holds approximately 8.58% of Nintendo and 8.97% of Koei Tecmo shares.

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