EssilorLuxottica can raise Nikon stake to 20%

French-Italian eyewear maker EssilorLuxottica has secured permission to raise its stake in Nikon Inc. to as much as 20% under Japan’s Foreign Exchange and Foreign Trade Act, Nikon said in a press release. The maker of Ray-Ban sunglasses has also raised its holding in Nikon to 10.8% from 9.6% to become the largest shareholder. As previously announced, EssilorLuxottica has been boosting its stake in the Japanese optics maker for over a year. The two companies have worked together for 25 years.