JOURNAL ARTICLE

Nintendo shares rise after Saudi Arabia says it's open to expanding its stake in the home of Super Mario.

  • Published In: Fortune.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Lim, Lionel 3 of 3

Abstract

The article focuses on the interest of Saudi Arabia's Public Investment Fund (PIF) in increasing its stake in Japanese video game developer Nintendo, which has led to a rise in Nintendo's stock shares. The PIF currently holds an 8.58% stake in Nintendo and is also invested in other gaming companies, including Koei Tecmo and Capcom. The PIF is transferring its stakes to the Savvy Games Group, aiming to enhance collaboration with Japanese developers for game localization. Additionally, the article notes Nintendo's recent financial challenges and its plans to release a new version of its Switch console by April 2025, alongside ongoing projects in film adaptations of its gaming franchises. [Extracted from the article]

Additional Information

  • Source:Fortune.com. 2024/10, pN.PAG
  • Document Type:Article
  • Subject Area:Sports and Leisure
  • Publication Date:2024
  • Accession Number:180152273
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