ValueAct eyes stake of over $1.1 billion in Japanese gaming major Nintendo



Activist investor ValueAct Capital Partners LP has built a stake of over $1.1 billion in Nintendo, according to a letter seen by Reuters, a bet that digital software distribution and the development of new entertainment products will fuel growth at the Japanese gaming company.

ValueAct, which first began buying the stock in April 2019, grew the position in Nintendo, known for its gaming consoles and for having turned characters like Mario and Donkey Kong into international hits, during the stock market sell-off in February and March, according to the letter sent to its investors.

Nintendo's future is bright, ValueAct wrote in its letter, adding there is potential for growth both in the software business and room for the company to transform itself into a broader entertainment company.

ValueAct has picked up about 2.6 million shares, or about a 2% stake, in Nintendo. Shares of the Japanese company rose more than 2% as trading started in Tokyo.
"We are aware that ValueAct is holding a stake and we've been engaged in dialogue with them. We don't disclose content of our dialogue with our investors," a Nintendo spokesman said.
A spokesman for ValueAct declined to comment.




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