Money talks too loud for those laws to work, especially Saudi money. Might as well accept that Peach will become Mario's punching bag in a burka and Bowser will be made into a horrific caricature of Jews. This is just how the world works and always will work, so why bother trying to fix it anymore?
Wait, what? They didn't have a say in this?
Obviously they didn't have a say in this, that's how the stock market works.
And no, money is exactly why these laws exists in the first place. Nintendo is one of the most important companies in the Japanese economy and the laws I'm talking about are there to prevent hostile take overs of big important companies like Nintendo. The regulations are very strict. There is no way Nintendo would agree to sell to the Saudis and even if they did the government would probably not allow it.
With a 5% share the Saudis have zero influence on anything abd therefore nothing with their games will change.