Nintendo, the owner of the Super Mario franchise, is the world's second-largest gaming company by market capitalisation, according to Statista. AFP
Nintendo, the owner of the Super Mario franchise, is the world's second-largest gaming company by market capitalisation, according to Statista. AFP
Nintendo, the owner of the Super Mario franchise, is the world's second-largest gaming company by market capitalisation, according to Statista. AFP
Nintendo, the owner of the Super Mario franchise, is the world's second-largest gaming company by market capitalisation, according to Statista. AFP

Saudi Arabia's Public Investment Fund snaps up 5% stake in Japan's Nintendo


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Saudi Arabia's Public Investment Fund has acquired a 5.01 per cent stake in Japan's Nintendo, boosting its portfolio in the lucrative global gaming sector.

The kingdom's $500 billion sovereign wealth fund bought about 6.5 million shares in the creator of Super Mario and maker of video game consoles, according to a regulatory filing with the Tokyo Stock Exchange on Wednesday.

The investment in the world's second-largest gaming company by market value, makes the fund the fifth-largest shareholder in Kyoto-based Nintendo, according to Bloomberg data.

Nintendo's share price closed 3.5 per cent higher at the end of trading on Wednesday. The Japanese company's stock price is up about 9 per cent since the start of the year.

The investment in Nintendo is the PIF's third in a Japanese gaming company, following deals to acquire stakes of more than 5 per cent in online games makers Capcom and Nexon. The Capcom stake is potentially big, as the company is the owner of some of the biggest gaming franchises, including Resident Evil, Street Fighter and Mega Man, plus Marvel crossover titles.

Saudi Arabia, the Arab world's largest economy, has increased its investment in the multi-billion-dollar gaming industry over the past two years. The industry grew during the Covid-19 pandemic, as people pivoted to home entertainment during lockdowns. The sector has about three billion gamers worldwide, according to gaming data provider Newzoo.

In January, the PIF launched Savvy Gaming Group, which aims to become the leading gaming and eSports group locally and internationally. Gaming consumption in Saudi Arabia is projected to reach $6.8bn by 2030, according to a recent report from Boston Consulting Group.

The fund also took a stake in US company Activision Blizzard, the Call of Duty publisher that Microsoft announced it would buy for $68.7bn in January. Its stake in Activision at the end of the first quarter of this year was worth $3bn, according to the latest regulatory filing.

The PIF also has a stake of about $1.8bn in US video game company Electronic Arts. The fund also has a $1.7bn investment in New York-based Take-Two Interactive Software, a video game holding company that offers its products under the Rockstar Games, 2K, Private Division, Social Point, and Playdots labels.

In February, Saudi-owned MBC Group, the biggest broadcaster in the Middle East and North Africa, formed a joint venture with Neom, the $500bn high-tech mega-city being built in the kingdom, to set up the first AAA games development studio in the Arab world.

AAA is a classification within the gaming industry that labels games produced and distributed by mid-sized or big publishers that usually have higher budgets.

Saudi studios are also seeking to get a larger share of the market by attracting investments. In April, Riyadh-based Spoilz Games raised 2.6 million riyals ($693,000) in a pre-seed investment round that it will use to expand its portfolio.

The gaming industry is forecast to have a $339.95bn market value by 2027, compared to $198.4bn in 2021 and grow at a 9 per cent compound annual rate, according to Mordor Intelligence.

Rooney's club record

At Everton Appearances: 77; Goals: 17

At Manchester United Appearances: 559; Goals: 253

RESULT

Manchester United 1 Brighton and Hove Albion 0
Man United: Dunk (66' og)

Man of the Match: Shane Duffy (Brighton)

THE BIO

Bio Box

Role Model: Sheikh Zayed, God bless his soul

Favorite book: Zayed Biography of the leader

Favorite quote: To be or not to be, that is the question, from William Shakespeare's Hamlet

Favorite food: seafood

Favorite place to travel: Lebanon

Favorite movie: Braveheart

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

THE SPECS

Engine: 1.6-litre turbo

Transmission: six-speed automatic

Power: 165hp

Torque: 240Nm

Price: From Dh89,000 (Enjoy), Dh99,900 (Innovation)

On sale: Now

Dubai World Cup Carnival card

6.30pm: UAE 1000 Guineas Trial Conditions (TB) US$100,000 (Dirt) 1,400m

7.05pm: Handicap (TB) $135,000 (Turf) 1,000m

7.40pm: Handicap (TB) $175,000 (D) 1,900m

8.15pm: Meydan Challenge Listed Handicap (TB) $175,000 (T) 1,400m

8.50pm: Dubai Stakes Group 3 (TB) $200,000 (D) 1,200m

9.25pm: Dubai Racing Club Classic Listed Handicap (TB) $175,000 (T) 2,410m

The National selections

6.30pm: Final Song

7.05pm: Pocket Dynamo

7.40pm: Dubai Icon

8.15pm: Dubai Legacy

8.50pm: Drafted

9.25pm: Lucius Tiberius

England squad

Goalkeepers: Jordan Pickford, Nick Pope, Aaron Ramsdale 

Defenders: Trent Alexander-Arnold, Conor Coady, Marc Guehi, Reece James, Harry Maguire, Tyrone Mings, Luke Shaw, John Stones, Ben White

Midfielders: Jude Bellingham, Conor Gallagher, Mason Mount, Jordan Henderson, Declan Rice, James Ward-Prowse

Forwards: Tammy Abraham, Phil Foden, Jack Grealish, Harry Kane, Bukayo Saka, Emile Smith Rowe, Raheem Sterling

COMPANY PROFILE

Name: Grubtech

Founders: Mohamed Al Fayed and Mohammed Hammedi

Launched: October 2019

Employees: 50

Financing stage: Seed round (raised $2 million)

 

So what is Spicy Chickenjoy?

Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.
 

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Updated: May 19, 2022, 5:29 AM`