The Saudi Public Investment Fund (PIF) has continued to reduce its holdings in Nintendo, intensifying the sell-off that began in August. According to a filing with Japan's Ministry of Finance, PIF has decreased its stake in the Kyoto-based gaming company from 7.5% to 6.3%. Between August 21 and October 1, the fund sold approximately 17.3 million shares of Nintendo.
This divestment led to a significant market reaction, with Nintendo's stock on the Japanese exchange falling by as much as 4% during trading, before closing down 3.29%. Despite this reduction, the fund, which manages around $930 billion in assets, remains one of Nintendo's major shareholders.
