The PIF’s stake in the Kyoto-based company rose from 5.01 percent to 6.07 percent, according to the ownership report submitted to Japanese regulators.
The fund disclosed its five percent stake in Nintendo in a report to regulators in May last year, indicating it was for investment purposes.
He also acquired stakes in video game companies Nexon, Capcom and Koei Tecmo.
It is noteworthy that the Saudi Public Investment Fund came on the list of the fastest growing funds during 2022, in light of the increase in its assets by 15 percent, to reach $ 607.4 billion in 2022, compared to $ 528 billion at the end of 2021, according to data from the Sovereign Wealth Funds Institute around the world (SWFI).
Japanese export companies such as Nintendo also earn profits because of the weak yen, which raises the value of their overseas earnings when converted into yen.
A US dollar was worth about 110 yen a year ago, but now the value of one dollar is more than 130 yen.
Nintendo’s net profit for the quarter ending in September was about 111.5 billion yen ($850 million), up 41 percent year-on-year.
Total sales for the quarter ending in September were about 350 billion yen, an increase of 16 percent.
“Nintendo” said that the shortage of computer chips and other components, caused by the closures related to Corona, was hurting production.
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