{"id":90352,"date":"2024-10-09T00:00:00","date_gmt":"2024-10-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/09\/pif-sells-down-nintendo-stake\/"},"modified":"2024-10-09T00:00:00","modified_gmt":"2024-10-09T00:00:00","slug":"pif-sells-down-nintendo-stake","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/09\/pif-sells-down-nintendo-stake\/","title":{"rendered":"PIF sells down Nintendo stake"},"content":{"rendered":"

The Public Investment Fund (PIF) has trimmed its stake in Japanese gaming giant <\/strong>Nintendo to 7.54% from 8.58%<\/strong>, offloading some 17.3 mn shares over the past few weeks, Bloomberg<\/a> reports citing a Tuesday filing<\/a> to the Japanese Finance Ministry. PIF remains one of Nintendo\u2019s largest shareholders. CNBC<\/a> also picked up the story. <\/p>\n

This isn\u2019t what we were expecting:<\/strong> The disclosure comes a few days after Vice Chair of PIF\u2019s gaming unit Savvy Games Prince Faisal bin Bandar bin Sultan Al Saud indicated that the sovereign wealth fund might up its stake<\/a> in the Japanese game maker. The fund was also reportedly looking at stakes in other Japanese gaming companies to implement their know-how in developing a local gaming industry, Al Saud had said. It remains unclear whether PIF will later move ahead with an additional stake purchase in Nintendo.<\/p>\n

Market reax:<\/strong> Nintendo\u2019s shares closed down 0.6% yesterday, after closing 4.4% higher<\/a> on Monday on the back of Al Saud\u2019s hints at plans for an additional share purchase. Yesterday\u2019s dip was \u201cbroadly in line\u201d with the Nikkei 225 index, the business news information service said.<\/p>\n","protected":false},"excerpt":{"rendered":"

PIF remains one of Nintendo\u2019s largest shareholders<\/p>\n","protected":false},"author":1,"featured_media":90353,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[10,1672,31,2720,14,1151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam-ksa","tag-gaming","tag-investment-watch","tag-ma","tag-ma-watch","tag-public-investment-fund-pif","wpautop","entry"],"acf":{"mongo_id":"c27f3cb8-827a-4b6e-8439-9d3d4793117f","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/601.jpg","photo_position":"above","homepage_title":"","full_issue_title":"PIF sells down Nintendo stakes","related_issue":[90341],"teaser":"PIF remains one of Nintendo\u2019s largest shareholders","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.8b31250b-11c3-4a4c-a1a9-5c3797e82a9f.mp3"},"yoast_head":"\nPIF sells down Nintendo stake - 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