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Campaigns / Elliott Management → Toyota Industries Corporation
Elliott Management vs. Toyota Industries Corporation

Toyota Industries Corporation · 6201

2 decks published between 2026-01-18 and 2026-01-27 — 69 pages, 69 analysed slides total. Outcome: ongoing.

initial thesis follow up

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2026-01-18 initial thesis

    JA Elliott Letter to Shareholders of Toyota Industries Corporation

    17pp · letter

    Toyota Industries' ¥18,800 take-private undervalues NAV ¥26,134 by 40%; rejecting the TOB and executing Elliott's Standalone Plan unlocks >¥40,000 per share by 2028.

    N 4 V 3 C 3
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  2. 2026-01-27 follow up

    Elliotts Perpectives on Toyota Industries JP

    52pp · full_deck

    Toyota Real Estate's ¥18,800 TOB undervalues Toyota Industries by 39% versus NAV and 85% on core business; shareholders should refuse to tender and pursue a standalone plan instead.