Saudi sovereign wealth fund increases Nintendo stake to 6%

OSAKA -- Saudi Arabia's sovereign wealth fund has boosted a stake in Nintendo to 6.07%, according to a filing made in Tokyo Thursday, as the oil-rich kingdom increases a presence in the gaming industry.

The Public Investment Fund (PIF) acquired a 5.01% share in the Kyoto-based game company in May last year. Both moves were made for investment purposes, according to the filings.