French Eyewear Maker Becomes Nikon’s Top Shareholder

Tokyo, Oct. 7 (Jiji Press)–Japanese precision equipment maker Nikon said that major French eyeglasses maker EssilorLuxottica, which owns the Ray-Ban sunglasses brand, has become its largest shareholder with an equity stake of over 10 pct on a voting rights basis. According to Nikon’s announcement on Monday, EssilorLuxottica has obtained the authorization to increase its stake in Nikon up to 20 pct under Japan’s foreign exchange law. Nikon produces semiconductor exposure equipment and other products deemed critical to national security. Foreign companies investing 10 pct or more in Japanese firms designated as belonging to particularly important core industries are required to be screened under the foreign exchange law. EssilorLuxottica’s equity stake in Nikon expanded from 9.62 pct to 10.75 pct. Nikon and EssilorLuxottica have worked together on various projects, including jointly setting up an eyeglass lens manufacturer in 2000. “We have maintained a friendly and cooperative relationship for many years,” Nikon said in a statement. END [Copyright The Jiji Press, Ltd.]