Saudi's PIF Increases Stake in Toei Film Company to 6%

According to a filing on Friday, Saudi Arabia's Public Investment Fund (PIF) increased its stake in Toei Co Ltd to 6%, reflecting the sovereign wealth fund's growing exposure to the Japanese media industry.

As per the ownership report filed with Japanese regulators, PIF's stake in the Tokyo-based film and animation firm has increased from 5% to 6.03%.

PIF revealed last month that it had increased its stake in e-sports behemoth Nintendo to 8.26%. The world's largest sovereign fund has also made investments in the Japanese gaming companies Nexon, Capcom, and Koei Tecmo.

Toei Animation Co., Ltd. is a Japanese animation studio owned primarily by the Toei Company. Sally the Witch, GeGeGe no Kitar, Mazinger Z, Galaxy Express 999, Cutie Honey, Dr. Slump, Dragon Ball, Saint Seiya, Sailor Moon, Slam Dunk, Digimon, One Piece, Toriko, World Trigger, The Transformers (between 1984 and 1990, including several Japanese exclusive productions), and the Pretty Cure series are among the many series it has produced.

Saudi Arabia's sovereign wealth fund is the Public Investment Fund. It is one of the world's largest sovereign wealth funds, with estimated assets of $620 billion (£514 billion). It was founded in 1971 with the intention of investing funds on behalf of the Saudi government. Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler since 2015, controls the wealth fund.