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  "documentTitle": "Toyota Industries Corporation (6201.T)",
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  "authorName": "Elliott Management",
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  "notes": "ウォーターフォールチャートを用いた財務インパクトの可視化。",
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      "text": "2.6兆円の現金は、持合株式の解消において、調整後時価総額の80%に相当する自己株式取得を行うのに十分である",
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      "text": "1株あたり税後NAVの増加",
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      "text": "出典: 会社開示資料、Bloomberg。注: (1) 市場データは2026年1月16日時点、(2) 持合株式の市場価格での売却を前提とする、(3) トヨタ関連企業（トヨタ自動車、デンソー、アイシン、豊田通商、トヨタ不動産）から豊田自動織機の株式を1株あたり18,800円で買い戻すことを前提とする...",
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      "text": "スタンドアローン・プラン (1/2): 持合株式の解消",
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