By Daniel Leussink

TOKYO, Dec 10 (Reuters) – Elliott Investment Management has lifted its stake in Toyota Industries to 5.01%, further increasing pressure on automotive giant ‍Toyota Motor, which plans to buy out the forklift manufacturer, a key group firm.

The U.S. activist investor, which spent 268 billion yen ($1.7 billion) on acquiring the stake, said in a Japanese regulatory filing on Wednesday that the holding was acquired ‌for investment purposes and potentially making ‌important shareholder proposals.

Last month, Elliott said it had a significant stake and criticised the deal as undervaluing Toyota Industries, lacking transparency and falling short of proper governance practices.

Other global investors have also asked for more disclosure of a deal that would strengthen the infl

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