EssilorLuxottica ups stake in Nikon securing strategic foothold in optics and imaging.

EssilorLuxottica, the prominent French-Italian leader in eyewear and optical equipment, known for iconic brands like Ray-Ban, has officially become the main shareholder in Nikon, the esteemed Japanese manufacturer of photography and optical equipment. This significant development sees EssilorLuxottica acquiring a substantial stake and voting rights exceeding 10% in the Japanese firm.

Nikon has further disclosed that EssilorLuxottica has received authorization to potentially increase its ownership in the company to a maximum of 20%. This approval falls under the purview of Japan’s stringent Foreign Exchange and Foreign Trade Act, which governs foreign investments in critical domestic sectors. Specifically, EssilorLuxottica’s stake has risen from an initial 9.62% to its current 10.75%.

The regulatory scrutiny surrounding this acquisition stems from Nikon's involvement in sectors deemed crucial for national security. Nikon's manufacturing portfolio includes high-precision cameras, advanced lenses, and vital lithography equipment essential for chip-making. Under Japan's Foreign Exchange Act, any foreign company acquiring a stake of 10% or more in Japanese entities operating in these key sectors is subject to mandatory screening.

This increased investment underscores a deepening of a long-standing partnership between the two industry giants. Nikon affirmed their continued close ties, stating in a press release that they "have maintained a friendly and collaborative relationship for many years." This history of cooperation includes a successful joint venture established in 2000, dedicated to the production of eyeglasses lenses, highlighting a consistent pattern of strategic alliance between Nikon and EssilorLuxottica.