Electronic Gaming Development Company, linked to Saudi Arabia's Public Investment Fund, has purchased 5.03% of Capcom shares. This adds to a previous 5% stake held by the PIF since 2022, bringing total Saudi ownership to over 10%. The move is described as pure investment amid Capcom's recent successes.
An investment fund connected to Saudi Arabia's Public Investment Fund (PIF), the Electronic Gaming Development Company (EGDC), acquired 26.78 million shares of Capcom, equating to 5.03% of the company's total shares. EGDC reported to the Kanto Local Finance Bureau that the purchase is for 'pure investment' purposes, aiming to profit from rising stock values. This follows a roughly 5% stake directly bought by the PIF in 2022, resulting in Saudi Arabia now owning just over 10% of the Resident Evil and Street Fighter publisher. EGDC also owns the entirety of SNK, developer of Fatal Fury: City of the Wolves and the King of Fighters series. Capcom has enjoyed strong performance recently, with Resident Evil Requiem becoming the fastest-selling entry in the franchise's history, reaching 6 million sales in its first couple of weeks. Capcom announced plans for ongoing support and additional content ahead of the series' 30th anniversary. Saudi Arabia's gaming investments extend further: it acquired Pokemon Go developer Scopely for $3.5 billion, and is involved in a potential $55 billion deal for Electronic Arts—the largest acquisition in history if completed. Savvy Games Group, another Saudi investment arm led by former Activision executive Brian Ward, has also acquired companies like Scopely (Monopoly Go) and Niantic (Pokémon Go). Human rights organizations have labeled these investments as attempts to improve the nation's reputation, noting the PIF is chaired by Prince Mohammed bin Salman.
