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

TOKYO, March 3 : Saudi Arabia’s Public Investment Fund has increased its stake in Toei Co. Ltd. to 6 percent, a filing showed on Friday, reflecting the sovereign wealth fund’s growing exposure to the Japanese media industry, according to Reuters.

PIF’s stake in the Tokyo-based film and animation firm has risen from 5 percent to 6.03 percent, according to the ownership report filed with Japanese regulators.

PIF last month revealed raising its stake in the e-sports giant Nintendo to 8.26 percent. The leading sovereign fund has also invested in Japanese gaming companies Nexon, Capcom and Koei Tecmo.