Toyota(US:TM) 智通财经网·2026-02-12 07:31Group 1 - Toyota Group has extended the acceptance deadline for its key subsidiary's privatization offer to March 2, indicating the need for more shareholder support amid pressure from activist investor Elliott Management [1] - The privatization proposal has been controversial since its inception, with an initial offer of 16,300 JPY per share, which was criticized as a "floor price" to force shareholders out. The offer was later raised to 18,800 JPY per share, valuing Toyota Industries at 6.1 trillion JPY, still below its current market value [1][2] - The total cost for this privatization scheme is projected to reach 5.4 trillion JPY, with 4.3 trillion JPY allocated specifically for acquiring Toyota Industries [1] Group 2 - Elliott Management has proposed an independent plan advocating for the dissolution of cross-shareholdings, business integration, optimized capital allocation, and governance reforms, suggesting that Toyota Industries could achieve a valuation of over 40,000 JPY per share by 2028 [2] - Toyota Industries is one of the largest forklift manufacturers globally, originally founded by Sakichi Toyoda to commercialize his invention of the automatic loom. The company has evolved significantly, with Akio Toyoda recently stepping down as CEO after 14 years to become chairman [2] - The Japanese government has been urging companies to eliminate complex cross-shareholding arrangements to enhance corporate governance, increase transparency, and improve shareholder returns [2]