EssilorLuxottica becomes Nikon’s main shareholder

Nikon, a Japanese manufacturer of photography and optical equipment, has said that EssilorLuxottica, the French-Italian leading eyewear and optical equipment producer, owner among others of the Ray-Ban sunglasses brand, has become its main shareholder, with a stake and voting rights of over 10%.

According to Nikon, EssilorLuxottica has also been authorised to increase its Nikon stake up to 20%, under Japan’s Foreign Exchange and Foreign Trade Act. 

Nikon manufactures cameras, lenses and lithography equipment used in chip-making, products regarded as critical to national security. Foreign companies with a stake of at least 10% in Japanese companies operating in key sectors are required to undergo screening under the Foreign Exchange Act. 

EssilorLuxottica’s stake in Nikon has grown from 9.62% to 10.75%. Nikon and EssilorLuxottica have collaborated on several projects in the past, and jointly set up an eyeglasses lens producer in 2000. “We have maintained a friendly and collaborative relationship for many years,” Nikon said in a press release.