Sony Group has made a non-binding proposal to acquire Tamron and turn the Japanese camera lens maker into a wholly owned subsidiary, Tamron announced Thursday. The company said it has established a special committee to review the proposal, whose financial details it did not disclose.
Tamron shares opened with a glut of buy orders on the Tokyo Stock Exchange and looked set to close limit-up, while Sony shares fell. Tamron had a market capitalisation of about $1.18 billion as of Wednesday's close.
Sony already holds a 14.7% stake in Tamron and is reportedly looking to increase its position. Singapore-based activist investor Effissimo Capital Management is Tamron's largest shareholder with a 17.4% stake. Tamron reported operating profit fell 13% in the year ended December 2025, while its imaging-focused acquirer posted roughly $7 billion in digital camera-related revenue last fiscal year.