Nikon’s Shares Jump After EssilorLuxottica Raises Stake

Nikon Corp.’s stock rose its most in more than two weeks after disclosing that EssilorLuxottica SA has increased its shareholding, reflecting the Ray-Bans maker’s growing bet on a pivotal supplier of optical and chipmaking equipment.

The Franco-Italian firm now owns about 10.6% of Nikon, the European company said in a filing, up from about 9% just over a month ago. The semiconductor firm’s shares rose 5% in Tokyo, extending gains since August when Bloomberg News reported EssilorLuxottica was in talks with the Japanese government to build its holding to around 20%. Nikon said Monday the European firm has won approval to do so.