The Saudi sovereign wealth fund (Public Investment Fund PIF) has reduced its holdings in Japanese video game maker Nintendo, according to a report published by the American news agency Reuters on Thursday, referencing a ownership change report submitted on December 26.
According to Reuters, the change report dated December 26 revealed that the ownership percentage of the Saudi Public Investment Fund in Nintendo shares dropped from 5.26% in the previous November report to 4.19% as of the reporting obligation date on December 19.
It is noteworthy that this marks the third consecutive monthly reduction in the Public Investment Fund's holdings of Nintendo shares, which began unexpectedly in October of last year, following the sovereign wealth fund's announcement of its openness to increasing its holdings in the company. However, the fund subsequently reduced its holdings by more than half.
In October, the Public Investment Fund decreased its stake in the Japanese video game giant from 8.58% to 7.54%, and then immediately lowered it again in November from 7.54% to 6.3%. It is clear that the fund continued to reduce its stake in Nintendo, which now stands at only 4.19%.
