Saudi Arabia now owns 5% of Nintendo

Saudi Arabia’s Public Investment Fund has officially acquired a 5.01% stake in Nintendo, according to an application filed with Japan’s Ministry of Finance.

As noted by Bloomberg, the Public Investment Fund’s latest investment in gaming joins similar ventures that spent billions on shares in Capcom, EA, Activision and Take-Two. The Capcom-Nexon deal alone cost the PIF $1 billion for a 5% stake in those companies, while the purchase of 7.4 million shares of Electronic Arts would have a $1.06 billion price tag.