Nintendo heirs buy majority stake in activist fund Taiyo Pacific

Eyeing expansion: Nintendo characters including Mario (right) displayed at its official store in Tokyo. The investment firm managing the wealth of the company’s founders has purchased a majority stake in a US activist fund. — AP

TOKYO: The investment firm managing the wealth of Nintendo Co’s founders purchased a majority stake in Taiyo Pacific Partners, a United States activist fund focused on Japanese equities, according to Nikkei.

The Yamauchi No. 10 family office acquired the holding from Taiyo Pacific chief executive officer Brian Heywood and other founding members, Nikkei reported Monday, citing executives from both parties involved that it didn’t identify. Hirowaka Murakami, co-chief investment officer of Yamauchi No. 10, will be named co-CEO along with Heywood later this month.