Elliott Statement on Toyota Industries Corporation

LONDON, Nov. 11, 2025 /PRNewswire/ -- Elliott Investment Management L.P. and Elliott Advisors (UK) Limited ("Elliott"), which advise funds that together have a significant ownership stake in Toyota Industries Corporation ("Toyota Industries" or the "Company"), making Elliott one of the Company's largest shareholders, today issued the following statement:

Elliott confirms that it has a significant investment in Toyota Industries and that it has been sharing its views with the Company's management team, Board and other constituents regarding the proposed transaction with Toyota Fudosan. Elliott believes the proposed transaction very significantly undervalues Toyota Industries and reflects a process that has lacked transparency and has fallen short of proper governance practices.

About Elliott

Elliott Investment Management L.P. (together with its affiliates, "Elliott") manages approximately $76.1 billion of assets as of June 30, 2025. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Investment Management L.P.

Media Contacts:

London
Stijn van de Grampel
Elliott Advisors (UK) Limited
T: +44 20 3009 1061
svdgrampel@elliottadvisors.co.uk

New York
Stephen Spruiell
Elliott Investment Management L.P.
T: +1 (212) 478-2017
sspruiell@elliottmgmt.com

Tokyo
Brett Wallbutton
Ashton Consulting
T: +81 (0) 3 5425-7220
b.wallbutton@ashton.jp