Nintendo Jumps After Saudi Fund Says Open to Bigger Stake
- Public Investment Fund is considering investing more in games
- Savvy Games exec’s interest cited in Kyodo News report
This article is for subscribers only.
Nintendo Co.’s shares rose as much as 3.9% after a senior executive with Saudi Arabia’s sovereign wealth fund told local media it’s considering increasing its stakes in Japanese game companies.
The stock climbed its most in more than a week, outpacing the market, after Kyodo News reported the Arab Gulf country’s Public Investment Fund was weighing deploying more capital to Nintendo and its sector peers. Prince Faisal bin Bandar, vice chairman of PIF subsidiary Savvy Games Group, said he would favor doing such a move with the support of the companies themselves.