Nintendo’s shares had jumped the previous day after Kyodo News reported that PIF was considering increasing its holding, quoting Prince Faisal bin Bandar, vice chairman of PIF subsidiary Savvy Games Group.
Saudi Arabia’s sovereign wealth fund disclosed it’s sold down its stake in Nintendo, days after a senior executive said it was weighing deploying more capital into the Kyoto-based game company.
The Arab Gulf country’s Public Investment Fund sold about 17.3 million shares of the creator of Super Mario Bros. franchise between Aug 21 and Oct 1, lowering its stake in the company to 7.54% from 8.58%, according to a filing to Japan’s Finance Ministry on Tuesday.
