TLO is a UK-based company founded in 1998. TLO is the world’s leading holographic optical element (HOE) developer and manufacturer for wearable AR devices. TLO's hologram-related technology and intellectual property for AR glasses offers industry-leading waveguided or mirror for free space optical system from optical design, holographic material selection, and prototyping, through to mass replication and encapsulation in Prescription lenses. Nitto is developing materials to enhance the performance and user comfort of AR glasses by leveraging Nitto's core competences in adhesive, film, and sheet technology, as well as optical design technology. This partial acquisition of TLO’s shares represents Nitto's proactive entry into the AR glasses field considered a future growth market in the ‘Digital Interface’ domain, which is focused on in the mid-term management plan ‘Nitto for Everyone 2025’.

Nitto will improve the quality, the performance, the cost, and the weight of its products with TLO's technology and know-how. Nitto and TLO will collaborate to develop innovative materials, Holographic Optics and mass manufacturing capabilities and capacity to contribute to the expansion of the AR glasses market. As an ‘essential’ leading company in the AR glasses industry, Nitto will deliver substantial value to society with the Niche Top Strategy.

About the AR market

AR glasses are innovative devices that can be used in various situations by superimposing virtual information and images on the real landscape. AR glasses are in increasing demand in many fields such as education, healthcare, entertainment, and industry, and the AR market size is expected to reach USD 100 billion by 2030.