Nintendo Shareholders to Sell $1.9 Billion in Cross-Holdings

Some of Nintendo Co.’s biggest shareholders including the Bank of Kyoto and DeNA Co. will sell stakes in the games maker worth about ¥285.7 billion ($1.9 billion), part of a growing push in Japan to unwind cross-shareholdings.

The sellers, which include the manager of MUFG Bank’s retiree allowance trust account and Resona Bank, will offload a total 32.7 million Nintendo shares in a secondary offering, with an overallotment of as many as 4.9 million additional shares, according to a filing. Nintendo separately announced a buyback of as much as ¥100 billion.