Electronic Gaming Development Company (EGDC), an investment firm owned by Saudi Crown Prince Mohammed Bin Salman’s MisK Foundation, has acquired a 5% stake in Capcom, according to a report from GameBiz.
Capcom and EGDC revealed the investment in a shareholding report filed with the Kanto Local Finance Bureau on March 13. The 5% stake is worth about 26.8 million shares, and EGDC stated in the report that the acquisition is for “pure investment.” This is far from EGDC’s only interest in the gaming market, as it acquired SNK Corporation in 2022.
EGDC is not the only Saudi company with a stake in Capcom. The Public Investment Fund (PIF) acquired a 5% stake in Capcom (as well as Nexon) in 2022. This puts the total amount of Saudi ownership of Capcom at just over 10%.
Capcom itself has reported strong sales of its recent titles, most notably Resident Evil Requiem, which has thus far sold 6 million copies within weeks of its launch. In its most recent quarterly earnings report, released in January, Capcom revealed that revenue was up across all segments, in part thanks to strong sales of older titles.