
Some of you have probably already seen clickbait titles like “Nikon Stock Skyrockets Amid Rumors of a Sale” by websites that swore to never report rumors. The whole fiasco started yesterday when Yahoo Finance Japan reported a stock surge in Nikon shares driven by speculation from FACTA Online that Nikon is “close to selling itself” to the French-Italian eyewear giant EssilorLuxottica.
The report
FACTA’s article notes that Nikon (7731.T) rose sharply, climbing to an intraday high of ¥2,326 (up ~8.6% to a level not seen in about five years). This reaction came amid Nikon’s recent announcement of a ¥86 billion net loss for FY2026. The piece frames the speculation as market-driven speculation tied to the company’s ongoing management and financial challenges, with EssilorLuxottica – Nikon’s long-time partner in the eyeglass lens business, positioned as a potential buyer. This is a short market-reaction news brief from Traders Web via Yahoo Finance Japan, not a deep investigative piece. No official confirmation of any sale talks has been reported.
Nikon FY2026 financial results: profits down, targets recovery in FY2027
Nikon’s stock price is up because of future expectations
According to the article, Nikon’s stock price started to go up after the FACTA article was published online – so there was no inside information or another logical reason for the stock to go up, it was all pure speculation. Here is a quote:
“Nikon surged in the afternoon trading session. This appears to be due to a report by FACTA Online at 2:15 PM on the 14th, circulating that the company is on the verge of being “sold” to France’s EssilorLuxottica. The stock price began to rise immediately after the article was published, and at 2:48 PM it reached its highest point of the day at 2,326.0 yen (up 8.6% from the previous day).”
Nikon’s stock is also driven up by market optimism about the company and expectations of improved performance in the future amid its FY2026 loss. You can see that Nikon’s stock price has been going up since mid-April:
EssilorLuxottica has been buying Nikon stock for a long time
EssilorLuxottica’s accumulation of Nikon shares has been gradual and transparent since around 2024, starting at about 5.1% and rising incrementally through open-market purchases to 19.61% by mid-April 2026. This process accelerated after Japanese regulators approved a cap of up to 20% in October 2025, with the investment explicitly described as a long-term passive holding with “no activist intent or plans to influence management.” Their 25+ year partnership via the 50/50 Nikon-Essilor joint venture for eyeglass lenses (established in 2000 and renewed multiple times) provides a natural synergy in optics without needing full control. A full acquisition would exceed the approved 20% threshold, trigger stricter scrutiny under Japan’s Foreign Exchange and Foreign Trade Act (given Nikon’s sensitive tech in sensors, lithography, and precision optics), and contradict EssilorLuxottica’s repeated statements framing the stake as non-controlling. This pattern of steady minority buildup strongly suggests partnership deepening rather than a takeover bid.
Essilor Luxottica has raised its stake in Nikon to 18.59% from 17.53%
Japanese companies do not like to sell to foreign entities
Japanese firms have a strong cultural and regulatory preference for maintaining control and independence, especially in strategically important sectors like precision optics and imaging. Nikon’s tech assets are considered core to national security, requiring rigorous approvals that have already capped EssilorLuxottica at 20%. Japanese companies often resist or structure deals to avoid full foreign takeovers. Nikon has a history of resilience, selling non-core assets selectively while protecting its camera/imaging heritage. A full sale to a French-Italian group would not make any sense and would likely face strong resistance. Nikon may decide to sell its eyeglass division, just as it recently did with MRMC (more on this in my next post).
Rumors vs. speculations
A rumor is an unverified story or claim passed from person to person, while speculation is an educated guess or theory based on incomplete evidence. Rumors often present themselves as potential facts, whereas speculation is openly acknowledged as guesswork about what might happen.
Rumors are unverified claims, often based on anonymous sources, while speculation involves market participants betting on outcomes with incomplete information, hoping for a positive outcome without any evidence.
Soap opera
No official statements, filings, or bids from either company support a sale. EssilorLuxottica consistently denies control ambitions. History shows most such optics-industry speculations fade without action and often are just some good old clickbait – do you remember when Sony was going to buy Nikon back in 2026:
There was also the “Nikon buying Samsung camera division rumor”. Even Nikon, which usually never comments on rumors, called that a “soap opera”.



























