Nintendo is preparing for a massive shift in its shareholder base, with roughly $1.9 billion worth of stock set to be sold by a group of long-time strategic holders. The move, arriving as a signal that Japan’s cross-shareholding era is still unwinding, is poised to reshape Nintendo’s ownership profile, which could have long-term impacts on the gaming giant.
Nintendo’s shareholder base is dominated by trust and custody accounts that hold shares on behalf of underlying investors, with a second tier of large international custodians and asset managers. Based on the company's latest stock information disclosure dated September 2025, The Master Trust Bank of Japan’s trust account is the largest named holder, accounting for about 16.29% of the ownership. Saudi Arabia's Public Investment Fund became Nintendo's largest foreign shareholder in 2023. It is unclear whether it still holds that title three years later because it has since reduced its stake in the company to 4.19%.
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Nintendo disclosed on February 27 that a group of shareholders—including major Japanese banks—will sell a large block of its stock as...
