Saudi Arabia’s Public Investment Fund (PIF) sovereign wealth fund is increasing its investments in Japanese gaming companies.

It currently holds an 8.58 percent stake in Nintendo Co. and 8.97 percent in Koei Tecmo Holdings Co.

PIF’s vice chairman, Prince Faisal bin Bandar bin Sultan Al-Saud, discussed plans to transfer shares from those companies to its gaming subsidiary, Savvy Games Group.

This initiative is part of Crown Prince Mohammed bin Salman’s strategy to diversify the kingdom’s economy from its reliance on oil.

Prince Faisal indicated a keen interest in additional investments in Japanese gaming firms, noting prospects for collaboration in localizing video games and exploiting the intellectual property of well-known franchises.