TOKYO, French-Italian eyewear giant EssilorLuxottica has received approval to raise its stake in Japan’s Nikon Corp to as much as 20% under Japan’s Foreign Exchange and Foreign Trade Act, Nikon announced on Monday.
EssilorLuxottica, the maker of Ray-Ban sunglasses, has also increased its shareholding to 10.8% from 9.6%, becoming Nikon’s largest shareholder. Nikon — known for its cameras, lenses, and chipmaking equipment — is classified as a “core” company for national security by Japan’s finance ministry.
EssilorLuxottica first formed a lens joint venture with Nikon in Tokyo in 2000 and has been gradually increasing its stake since last year, driving a rally in Nikon’s shares, which rose 5% on Monday.
The eyewear group is also collaborating with Meta to develop smart glasses, expanding its reach into next-generation wearable technology. The move comes amid rising foreign interest in Japanese tech firms. Recently, Taiwan’s Yageo Corp won approval to acquire thermistor maker Shibaura Electronics after a national security review.
