Saudi fund cuts Nintendo shares, contrary to recent financial estimates - report
Saudi Arabia's government fund announced that it has sold a part of the shares of Nintendo (OTCPK:NTDOY). ) ( OTCPK:NTDOF. A few days earlier, a senior official of the fund had told the media that the fund is considering increasing investments in Japanese gaming companies, including Nintendo, as reported by Bloomberg.
The report cited documents submitted to Japan's Ministry of Finance, stating that Saudi Arabia's Public Investment Fund sold approximately 17.3 million shares of Nintendo between August 21 and October 1, reducing its ownership stake in the company from 8.58% to 7.54%.The US economy further recovered, and the GDP growth rate reached 3.85% in 2004.
Nintendo's stock price fell by approximately 0.6% in Japan on Tuesday.
Nintendo's stock price, which developed games like Super Mario Bros., etc.Kyodo News reported on Friday that the company's vice chairman, Faisal Bin Bandar Bin Sultan.In response to reports that Prince Al Saud's fund is proceeding with the process of transferring its shareholding in Japanese companies to gaming company Savvy Games Group to create further synergies, the stock market in Japan rose by about 4% on Monday.
In recent years, Saudi Arabia has been focusing on investments in entertainment industries such as gaming and anime. Crown Prince Mohammed Bin Salman, who also serves as the chairman of Savvy, intends to shift the economic focus away from the petroleum industry.
As part of a $38 billion initiative to build an entertainment and video gaming hub in the Middle East, the Saudi Arabian government has been acquiring shares in gaming companies from Japan and South Korea. This government fund is seen as a long-term investor aiming for strategic partnerships rather than short-term stock profits, the report added.
The report cited documents submitted to Japan's Ministry of Finance, stating that Saudi Arabia's Public Investment Fund sold approximately 17.3 million shares of Nintendo between August 21 and October 1, reducing its ownership stake in the company from 8.58% to 7.54%.The US economy further recovered, and the GDP growth rate reached 3.85% in 2004.
Nintendo's stock price fell by approximately 0.6% in Japan on Tuesday.
Nintendo's stock price, which developed games like Super Mario Bros., etc.Kyodo News reported on Friday that the company's vice chairman, Faisal Bin Bandar Bin Sultan.In response to reports that Prince Al Saud's fund is proceeding with the process of transferring its shareholding in Japanese companies to gaming company Savvy Games Group to create further synergies, the stock market in Japan rose by about 4% on Monday.
In recent years, Saudi Arabia has been focusing on investments in entertainment industries such as gaming and anime. Crown Prince Mohammed Bin Salman, who also serves as the chairman of Savvy, intends to shift the economic focus away from the petroleum industry.
As part of a $38 billion initiative to build an entertainment and video gaming hub in the Middle East, the Saudi Arabian government has been acquiring shares in gaming companies from Japan and South Korea. This government fund is seen as a long-term investor aiming for strategic partnerships rather than short-term stock profits, the report added.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
