Saudi Arabia’s PIF is mulling a bigger stake in Nintendo, Reuters’ Kyodo reports

TOKYO (Reuters) – Saudi Arabia’s Public Investment Fund (PIF) is considering increasing its stake in Nintendo and other Japanese gaming companies, Kyodo News reported on Saturday.

Prince Faisal bin Bandar bin Sultan Al Saud, vice chairman of the sovereign wealth fund’s gaming unit, revealed the plan in an interview with Kyodo.

He told the Japanese news agency that the PIF was in no rush to raise its stakes and that the investments would be made in a friendly manner. The Kyodo report did not specify what it meant by “friendly.”

PIF currently owns 8.58 percent of Nintendo and has stakes in video game companies Nexon, Capcom and Koei Tecmo, Kyodo said.