Skip to content Skip to Search
Skip navigation

Saudi PIF raises stake in Japanese film company Toei to 6%

Art, Collage, Person Toei Company
Toei Company was founded in 1951 and produces movies, TV shows, animation, etc., according to the company website

Saudi Arabia’s Public Investment Fund (PIF) has increased its stake in Toei Company Limited to six percent, a filing showed on Friday, reflecting the sovereign wealth fund’s growing exposure to the Japanese media industry.

PIF’s stake in the Tokyo-based film and animation firm has risen from five percent to 6.03 percent, Reuters reported, citing the ownership report filed with Japanese regulators.

PIF also increased its stake in the e-sports giant Nintendo to 8.26 percent.

In September last year, Saudi Crown Prince Mohammed bin Salman laid out a SAR142 billion ($37.8 billion) strategy for Savvy Games Group to make the kingdom “the ultimate global hub for the games and esports sector by 2030”.

The company plans to invest in four programmes that aim to make the kingdom a global hub for gaming by 2030.

The Saudi sovereign fund has also invested in Japanese gaming companies Nexon, Capcom and Koei Tecmo.

PIF’s US stock holding was valued at $30.9 billion at the end of 2022, down from $36.8 billion at the end of September 2022. The fall was attributed to a $6.8 billion decrease in the value of electric carmaker Lucid.

Latest articles

Despite optimism from hedge funds and traders, oil prices remain relatively stable

Analysts optimistic on oil but the price stays steady

Global hedge funds and money managers have become increasingly optimistic about the short term outlook for oil prices in recent months, despite the oil price remaining flat at around $80 a barrel. The net length held by hedge funds and other money managers in WTI (West Texas Intermediate) futures and options has risen to its […]

Nadhim Zahawi, formerly chancellor of the UK, is thought to be leading a consortium of investors for a £600m bid

UAE’s RedBird IMI hopes for speedy sale of The Telegraph

Nadhim Zahawi, the former chancellor of the UK, is fronting one of seven bids to buy the Daily Telegraph newspaper and The Spectator magazine, which is owned by RedBird IMI, a US investment group backed by Abu Dhabi’s International Media Investments. The deadline for the first round of bidding was completed on Friday, although more offers […]

Egypt external debt

Egypt external debt makes record drop

Egypt’s external debt decreased by over $14 billion between December 2023 and May 2024, the steepest drop on record according to its Central Bank (CBE). External debt fell from a record high of $168 billion at the end of December to $154 billion at the end of May, a decrease of 8.4 percent. The drop […]

UAE trade minister Thani bin Ahmed Al Zeyoudi at the WTO ministerial meeting in Abu Dhabi in February. He said 'We are getting the support from many of the EU members'

UAE to revive EU trade talks before year-end

The UAE plans to restart trade talks with the European Union by the end of the year despite a broader agreement with GCC remaining on hold, according to a news report. The UAE has initiated the discussion both through the GCC and bilaterally, Reuters reported, quoting trade minister Dr Thani bin Ahmed Al Zeyoudi. “We are […]