Saudi Arabia wants to establish closer ties with Nintendo, Capcom, and other Japanese gaming companies
Prince Faisal bin Bandar bin Sultan Al Saud, the Vice Chairman of Savvy Games Group, met with representatives of the Japanese gaming industry during a recent trip to Tokyo, reports Nikkei Asia.
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At the meeting, the prince proposed that Nintendo, Capcom, Konami, Bandai Namco, and other major companies open offices in the Middle East. He noted that currently, there are few developers based there. Saudi Arabia wants to attract gaming companies from around the world, including Japan, to boost the region's economy.
Brian Ward, the CEO of Savvy Games Group, commented to Nikkei Asia that the Saudi government-controlled Public Investment Fund (PIF) plans to transfer some of its shares in Japanese studios to his company. This will allow Savvy Games Group to collaborate more effectively with developers from Japan. Currently, PIF holds 8% of Nintendo's shares and 6% of Capcom's shares.
It's also possible that Savvy Games Group will enter into several deals in Japan in the future. Previously, it received 142 billion Riyals ($37.9 billion) from PIF for investments in gaming and esports. According to Ward, 75% of the funds remain unspent.
