CaptainExplosion said:
Well then Nintendo better hurry up and buy more shares to prevent that from happening. |
I'm no stock expert, but it doesn't seem to work this way.
In September Nintendo had ~130 million "outstanding shares" of 400 million "authorized shares", the remaining ~270 million shares owned by Nintendo are "treasury shares".
https://www.nintendo.co.jp/ir/en/stock/information/index.html
But the treasury shares have no voting rights: https://www.investopedia.com/terms/t/treasurystock.asp
"In addition to not issuing dividends and not being included in EPS calculations, treasury shares also have no voting rights."
So if the Saudi has 6.5 million shares (5% of the 130m "outstanding shares" with voting rights) and Nintendo buys 65m shares back, then the Saudi has 10% of the remaining 65m "outstanding shares", doubling his voting influence to 10%.
It would be better if some of the Japanese major shareholders would buy Nintendo shares from "Foreign Institutions and Individuals" (currently over 50% of the voting rights) to reduce the foreign influence: