Nintendo Stakeholders Including MUFG and Kyoto Bank to Divest Approximately $19 Billion in Shares

Deep News13:10

According to three informed sources, Nintendo Co., Ltd. plans to gradually unwind its strategic shareholdings, which will lead several shareholders, including Mitsubishi UFJ Financial Group and Kyoto Bank, to sell their stakes in the "Super Mario" game developer.

Two of the sources indicated that the total value of the share sale is expected to reach approximately 300 billion yen (about $19 billion), and Nintendo may make a decision as early as Friday. The sources also revealed that the Kyoto-based gaming company is planning a stock buyback.

Both banks have established policies to reduce cross-shareholdings. In 2019, they participated in a sale of Nintendo shares alongside other institutions, totaling around 71 billion yen.

As of last September, Kyoto Bank, a regional bank, held a 4.19% stake in Nintendo. Mitsubishi UFJ held a 3.62% stake through a trust bank.

In recent years, Japanese regulators and the Tokyo Stock Exchange have been encouraging Japanese companies to reduce cross-shareholdings.

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