AdvertisementAdvertisementBusiness19 Jan 2026 07:55AM (Updated: 19 Jan 2026 08:23AM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST Jan 18 : Activist shareholder Elliott Investment Management said on Sunday that it has opposed Toyota Fudosan's revised tender offer of 18,800 yen ($119.24) apiece for Toyota Industries as the bid significantly undervalues the company.The hedge fund said in a statement that its analysis showed Toyota Industries' intrinsic net asset value to be more than 26,000 yen per share, as of January 16.Elliott said it had been discussing a "standalone plan" - involving unwinding cross-shareholdings, improving governance and capital allocation - with the company's board and special committee that would achieve a valuation of 40,000 yen per share by 2028.The move to take the forklift maker private by Toyota Group has come under fire from investors arguing the valuation process was opaque and failed to protect minority shareholder interests."If the Revised TOB is allowed to succeed, it will result in a substantial and potentially irreversible setback for Japan's corporate governance reforms and dampen investor interest in the Japanese market," Elliott said in their letter.($1 = 157.6700 yen)Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST