Podings on 24 September 2020
Theoretically they could, but for that to happen, an investor majority would all need to agree on which studio to buy.
And this seems highly unlikely to happen.
Nintendo is more the "forge bonds through acquiring a substantial number of shares" type in recent years.
Occasionally they have bought out the rest of a studio they already co-owned, if the price was right, or the studio is somehow in financial danger. But these are exceptions.
