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Saudi Arabia eyes bigger stake in Japanese developers
Saudi Arabia's sovereign wealth fund is considering increasing its 8.58 percent stake in Nintendo.
According to Kyodo news and spotted by VGC, the Public Investment Fund's (PIF) vice chair confirmed plans to diversify its hitherto oil-dependent economy by strengthening its gaming and entertainment businesses. The Savvy Gaming Group is a subsidiary of the Public Investment Fund, an initiative chaired by Prince Mohammed bin Salman. Meanwhile, his rule of Saudi Arabia has maintained the country's notoriously poor human rights record, with homosexuality still criminalised and punishments ranging from floggings to the death penalty.
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