An investment fund associated with Saudi Arabia’s Public Investment Fund (PIF) has recently acquired approximately five percent of Capcom, illustrating the country’s ongoing interest in the gaming sector.

The Electronic Gaming Development Company (EGDC) has purchased around 26.78 million shares of the prominent Japanese video game developer, amounting to about 5.03 percent of its total shares. Additionally, EGDC holds full ownership of SNK, known for creating franchises such as Fatal Fury and King of Fighters.

In a report to the Kanto Local Finance Bureau, the EGDC described the acquisition as a “pure investment,” suggesting its goal is to benefit from an increase in stock value. Capcom has experienced a remarkable resurgence, further evidenced by the success of its recent release, Resident Evil Requiem.

This acquisition follows a prior investment by the PIF, which had previously secured a similar five percent stake in Capcom in 2022. Overall, Saudi Arabia now possesses slightly more than ten percent of the company.

Recently, Saudi Arabia has been on an aggressive investment path, including the acquisition of Scopely, the company behind Pokémon Go, for $3.5 billion. The PIF is also actively participating, alongside private equity firms, in a groundbreaking $55 billion deal aimed at acquiring EA. If completed, this would mark the largest acquisition in history.

However, these purchases have drawn criticism from human rights organizations, which argue that they serve as an attempt to improve the country’s image while diversifying its income by investing in foreign enterprises. The fund is led by Prince Mohammed bin Salman, who has faced allegations from the CIA regarding his involvement in the assassination of journalist Jamal Khashoggi and has been linked to Saudi Arabia’s ongoing human rights issues.