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The Electronic Gaming Development Company (EGDC), a Saudi Arabian investment firm best known for owning SNK Corporation, has picked up a significant number of shares in Capcom, according to GameBiz.
A report filed with the Kanto Local Finance Bureau on March 13 revealed that EGDC now holds a 5.03% stake in Capcom, after purchasing 26,788,500 shares. The company stated that the reason for buying these shares is “pure investment,” meaning the goal is simply to make money through stock price gains or dividends and not to take control of the company.
EGDC was founded in 2020 and is owned by Saudi Arabian Crown Prince Mohammed Bin Salman through his MiSK foundation. The firm made waves in the gaming industry back in 2022 when it became the parent company of SNK Corporation, the Japanese studio behind classic fighting game franchises like Fatal Fury and King of Fighters, after acquiring 96% of the studio’s shares — a stake that has since grown to 100%.
It is worth noting that EGDC’s 5.03% stake in Capcom is separate from a stake already held by the Saudi Public Investment Fund (PIF), which also owns just over 5% of the company. That means two distinct Saudi entities now each hold notable portions of the Street Fighter and Resident Evil publisher.
Capcom is one of Japan’s most well-known game developers and publishers, with major franchises that also include Devil May Cry, Monster Hunter, and Mega Man.
EGDC’s move is just one piece of a much bigger picture. Saudi Arabia’s interest in the gaming industry goes well beyond buying shares in established companies. Last year, JP UNIVERSE partnered with Saudi Arabia’s Ministry of Investment to establish SA GAMES Inc. in Riyadh, a studio aimed at producing original games rooted in Saudi culture while tapping into Japanese game development expertise.
