Earlier this week, it was reported that Saudi Arabia’s  Public Investment Fund’s (PIF) was considering increasing its stake in Nintendo, as part of its ongoing initiative to branch the country’s economy into the entertainment industry away from oil.

However, according to a recent report from CNBC, the PIF has instead decided to trim its shares in Nintendo. A Japanese regulatory filing reveals that PIF’s stake in Nintendo has dropped from 8.58% to 7.54%, which still keeps it among Nintendo’s largest shareholders.

At the time of this writing, the reasoning behind this drop is not known. That said, this news may come as a relief to some fans concerned about the potential effects an increase in PIF’s hold over Nintendo could have had over the company.

What do you think? Let us know in the comments.