EssilorLuxottica has lifted its stake in Nikon to 10.59%, crossing a regulatory threshold that positions the Ray-Ban owner to become the Japanese optics manufacturer’s largest shareholder.
The filing with Japanese authorities on Monday confirms the Franco-Italian company has secured permission under Japan’s Foreign Exchange and Foreign Trade Act to acquire up to 20% of Nikon, which the government designates as a core industry player. Foreign investments exceeding 10% in such companies require regulatory approval.
The increased holding from 9.47% marks the latest step in a relationship dating back to 2000, when the two formed a joint venture producing eyeglass lenses. EssilorLuxottica first disclosed a 5.1% stake in Nikon last October.
Nikon’s shares climbed about 5% following the disclosure, extending gains since August when Bloomberg reported EssilorLuxottica was negotiating with Japanese officials about expanding its position. The stock had fallen 11% year-to-date before those reports emerged.
The deepening investment comes as EssilorLuxottica expands its smart glasses business with Meta Platforms, which has seen sales more than triple in early 2025. Nikon’s expertise in precision optics and lens technology could prove valuable as demand for AI-enabled eyewear accelerates, though the Japanese company’s semiconductor equipment division has struggled to match rivals like ASML.
