Saudi Arabia’s Electronic Gaming Development Company (EGDC) has reportedly acquired a 5.03% stake in “Resident Evil Requiem” publisher Capcom, raising the kingdom’s ownership in the leading Japanese video game developer to 10%.
News of the acquisition is being reported by Japanese game industry website Gamebiz.jp, which said the move by EGDC — a subsidiary of the Misk Foundation, also known as the Mohammed bin Salman Foundation, established by the Saudi Crown Prince of the same name — was a “pure investment.”
Besides “Resident Evil,” Capcom’s multimillion selling franchises include “Street Fighter,” “Marvel vs. Capcom,” “Mega Man,” “Devil May Cry,” “Dead Rising,” “Monster Hunter” and “Ace Attorney.”
Capcom and EGDC could not immediately be reached for comment.
In 2022, Saudi Arabia’s Public Investment Fund (PIF) bought 5% of Capcom’s shares along with an undisclosed stake in Tokyo-listed gaming publisher Nexon — the maker of popular online games including “MapleStory” and “Dungeon Fighter” — in a combined investment estimated by Bloomberg to amount to roughly $1 billion.
That same year, EGDC acquired a majority stake in Japanese video game hardware and software company SNK, the studio behind game franchises such as “The King of Fighters,” “Fatal Fury” and “Metal Slug.” The SNK acquisition started with a minority stake and eventually ended up in near or full ownership.
Saudi Arabia has been expanding its investments in the gaming sector, most notably with a still ongoing deal to buy video game giant Electronic Arts in a $55 billion leveraged buyout involving private equity firms Silver Lake, Saudi Arabia’s Public Investment Fund and Jared Kushner’s Affinity Partners. That deal, if completed, would mark one of the largest private equity buyouts in the gaming industry. EA’s franchises include “Skate,” “EA Sports FC” (rebranded from “FIFA”), “Apex Legends” and “The Sims.”