https://arab.news/gjcc4
- Plan for Japan firms to set up offices in Mideast
- Saudi Arabia has bought stakes in top companies
TOKYO: Saudi Arabia’s Savvy Games Group, owned by the Kingdom’s Public Investment Fund, is reportedly seeking deeper partnerships with game developers in Japan, including Nintendo and Capcom.
The aim is to develop the Middle East market and ensure the Kingdom eventually becomes a global hub for gaming and esports, Nikkei Asia reported on Tuesday.
Crown Prince Mohammed bin Salman, who chairs Savvy Games, is keen to promote Saudi Arabia’s gaming sector, according to the report.
“One of the main areas is how do we collaborate on localization products and help Japanese intellectual properties grow in a region that right now is underserved because very little is localized,” Prince Faisal bin Bandar bin Sultan Al-Saud, vice-chair of Savvy Games Group, was quoted as saying.
Prince Faisal met with representatives of several Japanese games companies during a trip to Tokyo in late May. “Game development is our long-term goal; we want to build a global hub for gaming and esports,” he said.
It is hoped that the major industry players — Nintendo, Bandai, Capcom and Konami Group — will set up offices in the region. The company also wants to make deals for its esports unit and expand its capacity to develop games.
According to March 2023 financial reports from the two Japanese companies, the PIF owns 8 percent of Nintendo and 6 percent of Capcom.
It also acquired mobile game developer Scopely for $4.9 billion in 2023 and two esports event companies for $1.5 billion in 2022.
This story was originally published in Arab News Japan