On the first page she's holding the June 2022 Issue of The Monthly Swordsperson, a fictional kendo magazine. This issue contains a report about the winners of the (fictional) National Student Conference, including a comment from their coach about how to raise winners, an interview with the upper division champion about how to follow his path, and a special feature about a thinking method learned from losing and a reflection method learned from winning. I should've typeset all of this, but like, with the lighting and grain filter (I can do the text distortion)… fuck that lol.
Also, this is apparently Issue No. 621. That suggests that this magazine has been going since… October 1970! Damn!
Oh also the text inside the elephant on her croptop says “Nyaōn”. Seems to be a rare but established cat sound. Maybe some kind of play with the elephant? Or perhaps just a brand name? Or is INNU the brand and Nyaōn the line? I don't know.