A recent Japanese article (Bunshun Online / Bungeishunju magazine’s “Marunouchi Confidential” column from mid-August 2026) mentioned again the speculation about a potential Luxottica acquisition of Nikon. The article notes Nikon’s large losses for the fiscal year ending March 2026. Against that backdrop of restructuring and a new president, the article states that EssilorLuxottica (known for Ray-Ban) has rapidly increased its stake toward 20%, and that “some believe that Luxottica’s large holding of Nikon shares is a stepping stone to an acquisition”. You can read the article on Yahoo Japan (behind a paywall). Here is the relevant quote:
EssilorLuxottica is Nikon’s largest shareholder. It began accumulating shares in 2024 (disclosing 5.1% in October 2024 as a “long-term financial investment”). By October 2025, it became the top shareholder at roughly 10.75-10.8% and received Japanese government clearance under the Foreign Exchange and Foreign Trade Act (FEFTA) to raise its holding as high as 20%:
Date | EssilorLuxottica stake |
|---|---|
| Oct. 2024 | 5.10% |
| Oct. 2025 | 10.75% |
| Nov. 2025 | 12.95% |
| Jan. 26, 2026 | 14.20% |
| Feb. 6 | 15.41% |
| Mar. 4 | 16.51% |
| Mar. 13 | 17.53% |
| Mar. 30 | 18.59% |
| Apr. 7, 2026 | 19.61% |
Speculations about Nikon being acquired by EssilorLuxottica are nothing new – see this post on my take:
Here is a quick recap on why I think an acquisition is highly unlikely:
- National Security Constraints: Under Japan’s Foreign Exchange and Foreign Trade Act, Nikon’s technology, particularly its semiconductor lithography equipment used in chipmaking, is classified as “core” to national security. Japanese regulators maintain rigorous control over foreign ownership in these critical sectors, making a full foreign buyout practically impossible.
- Passive Intent: EssilorLuxottica has explicitly classified this as a long-term passive holding. They have stated there is no activist intent or plan to influence Nikon’s internal management, corporate structure, or overall strategy.
- Cultural Resistance: Japanese corporate culture and regulatory frameworks strongly favor maintaining independence and heavily resist foreign takeovers, especially for legacy precision-optics companies.
The post Not again: “some believe that Luxottica’s large holding of Nikon shares is a stepping stone to an acquisition” (source: Yahoo Japan) appeared first on Nikon Rumors.
Related posts:
- Sigma 300-600mm f/4 DG OS Sports lens for Sony E-mount tested on the Nikon Z9 camera with the Megadap Pro adapter
- Another soap opera: speculation (not rumors) about Nikon being acquired by EssilorLuxottica
- Nikon’s stock price is up after Essilor Luxottica became Nikon’s top shareholder (they can now buy as much as 20%)
Lese weiter....