To be clear, those companies can still theoretically be acquired but will face tough scrutiny from Japan and it's mostly aimed at China, I don't think Japan has any issue with Saudi Arabia politically.

Sony is Cat 3 which is the highest.

• (III) - Companies conducting business activities in core sectors.

These are basically companies that are important to national security, Sega and Capcom will never make Cat 3. They're both Cat 1 which lists every single publicly listed company in Japan.

• (I) - Companies conducting business activities only in non-designated business sectors (subject to post-investment report only).

The law has always in some form existed, but it used to be that Japan would investigate anything over 10%, now it's anything over 1% for Cat 2/3 companies.

Nexon and Nintendo are Cat 2.

• (II) - Companies conducting business activities in designated business sectors other than core sectors.

But as I said, even Cat III can be acquired, it's just a lot harder, Sharp Corporation is Cat III but owned by Foxconn since Japan has no issue with Taiwan. Nissan is Cat III but 66% of it is owned by foreign entities and its single largest shareholder is a French company.

I mean best case scenario for me is Embracer bcuz I don't really care too much about their games

It's like they have an irrational fear of the opposite sex.

The Saudi government apparently was investigating that video, which obviously means they're gonna try covering it up.

Has anything good ever come from Saudi Arabia?

That doesn't count, the game is of Japanese origin, and it won't just be gay characters scrubbed but Jewish ones too, all because Saudi Arabia can just bribe their way out of actual consequences. That's why their only punishment for 9/11 was financially compensating families of the victims. Basically it was Saudi Arabia saying "Yes, we did 9/11, here's some money, now fuck off.".

Just rich people getting away with murder as usual, and now they're gonna ruin gaming.