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TOYO News
TOYO Events
Toyo Appoints Yasunari Harada as CFO
Toyo announced the appointment of Yasunari Harada as CFO and a director of the Company, effective July 1. Harada, a seasoned executive with over 30 years of senior leadership at leading investment banks, will play a central role in strengthening the Company's financial strategy, investor relations and capital markets engagement. Harada is replacing Taewoo "Raymond" Chung, who resigned as CFO and a director, effective June 30. Harada's career spans some of the most respected institutions in global finance. He began at The Industrial Bank of Japan before holding senior roles as Vice President at Morgan Stanley Securities, Executive Director at BNP Paribas Securities, and Managing Director & Head of Financial Institutions at Societe Generale Securities in Tokyo. He has served on the boards of financial institutions across Asia and Central Asia, including Kyrgyzkommertsbank, Solid Bank, and Khan Bank. Mr. Harada holds a bachelor of law degree from Kyushu University and is fluent in Japanese and English.
Major Averages Mixed as Tech Stocks Face Pressure
The major averages had a mixed finish as markets tried to rebound from the sharp technology-led selloff over the prior two sessions. Semiconductor stocks have been at the center of the pressure, with investors reassessing valuations after an extended run higher. Meanwhile, oil prices continue to drop amid optimism over developments in the Middle East.Investors are closely watching earnings from memory-chip maker Micron, which could become an important read-through for broader AI infrastructure spending. Recent weakness in chip shares has revived concerns about whether massive spending on AI data centers and hardware can continue at the same pace.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:AlphabetwasVerizonin the Dow Jones Industrial Average as of the open on June 29FedExreportedand provided guidance for 2026Cerebras Systemsreportedand provided guidance for Q2 and FY26President Trump stated in athat customers are being "gouged" by "big oil companies," and ordered the DOJ to investigate the matterThePfizer'sIbrance combo for metastatic breast cancer2. WALL STREET CALLS:BlackBerrywith a Buy at StifelVaronisto Overweight at Stephens on improving growthTake-Twowith a Buy at BTIGPrincipal Financialto Underperform at BofATwiliowith a Buy at Goldman Sachs3. AROUND THE WEB:Paramount Skydanceis preparing for the California and New York attorneys general to sue to block its proposed takeover of Warner Bros. Discovery, NY Post reportsThe Trump administration is urging Metato voluntarily submit its AI models for government review to assess capabilities and risks, NY Times saysTencentis negotiating exits from several game studio investments in Japan as part of a reassessment of the company's global portfolio, Bloomberg reportsQualcommis in discussions to provide its chip-design services to ByteDance, Reuters reportsOn China's black market, Nvidia'sAI chips have doubled in price as the U.S. crackdown on illicit exports coincides with strong demand from Chinese companies, FT says4. MOVERS:Wendy'sjumped as the stockfrom online trading communities as a potential short-squeeze candidateSunrungained afterwith Renew Home and Teslato deliver more than 16 gigawatts of energy capacity to hyperscalers and utilitiesAbsciwas higher afterfrom its human trial of ABS-201Toyowas lower in New York after announcingHertzfell after filing toand announcing plans to offer $300M in aggregate principal amount of Exchangeable Senior First-Lien Secured PIK Notes5. EARNINGS/GUIDANCE:LiveOneand raised its guidance for FY27Paychex, with CEO John Gibson commenting that the company "finished fiscal 2026 with strong momentum"Daktronics, with EPS and revenue beating consensusMoneyHero, with EPS lower year-over-yearKB Homeand provided guidance for Q3 and FY26INDEXES:The Dow rose 182.06, or 0.35%, to 51,848.90, the Nasdaq lost 110.41, or 0.43%, to 25,476.64, and the S&P 500 declined 7.24, or 0.098%, to 7,358.22.
Markets Rebound, Nasdaq Up 0.75%
The major averages were broadly higher as markets rebound from recent losses after a sharp technology-led selloff rattled investors over the last two sessions. Semiconductor stocks have been at the center of the pressure, with investors reassessing valuations after an extended run higher. Meanwhile, oil prices continue to drop amid optimism over developments in the Middle East.Investors are closely watching earnings from memory-chip maker Micron, which could become an important read-through for broader AI infrastructure spending. Recent weakness in chip shares has revived concerns about whether massive spending on AI data centers and hardware can continue at the same pace.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:AlphabetwasVerizonin the Dow Jones Industrial Average as of the open on June 29FedExreportedand provided guidance for 2026Cerebras Systemsreportedand provided guidance for Q2 and FY26President Trump stated in athat customers are being "gouged" by "big oil companies," and ordered the DOJ to investigate the matterFuelCelland Fit Energy announced afor up to 380 megawatts of clean, baseload on-site power for data centers2. WALL STREET CALLS:BlackBerrywith a Buy at StifelVaronisto Overweight at Stephens on improving growthTake-Twowith a Buy at BTIGPrincipal Financialto Underperform at BofATwiliowith a Buy at Goldman Sachs3. AROUND THE WEB:The Trump administration is urging Metato voluntarily submit its AI models for government review to assess capabilities and risks, NY Times saysTencentis negotiating exits from several game studio investments in Japan as part of a reassessment of the company's global portfolio, Bloomberg reportsEli Lillywill be using its cash pile to fund untested drug development strategies in preparation for the expiration of patents on its weight-loss drugs, FT saysQualcommis in discussions to provide its chip-design services to ByteDance, Reuters reportsOn China's black market, Nvidia'sAI chips have doubled in price as the U.S. crackdown on illicit exports coincides with strong demand from Chinese companies, FT says4. MOVERS:Wendy'sjumps as the stock attracted attention from online trading communities as a potential short-squeeze candidateSunrungains afterwith Renew Home and Tesla (TSLA) to deliver more than 16 gigawatts of energy capacity to hyperscalers and utilitiesAbscihigher afterfrom its human trial of ABS-201Toyolower in New York after announcing aHertzfalls after$100M of common stock and announcing plans to offer $300M in aggregate principal amount of Exchangeable Senior First-Lien Secured PIK Notes5. EARNINGS/GUIDANCE:LiveOneand raised its guidance for FY27Paychex, with CEO John Gibson commenting that the company "finished fiscal 2026 with strong momentum"Daktronics, with EPS and revenue beating consensusMoneyHero, with EPS lower year-over-yearKB Homeand provided guidance for Q3 and FY26INDEXES:Near midday, the Dow was up 0.95%, or 490.51, to 52,157.35, the Nasdaq was up 0.75%, or 193.06, to 25,780.10, and the S&P 500 was up 0.65%, or 48.24, to 7,413.70.
Toyo Issues 4.545 Million Shares and Warrants
Toyo announced that it has entered into definitive agreements for the issuance and sale in a registered direct offering of an aggregate of 4,545,456 its ordinary shares and warrants to purchase up to 4,545,456 of its ordinary shares at a combined purchase price of $11.00 per share and associated warrant. The warrants will have an exercise price of $13.20 per share, will be exercisable immediately upon issuance and will expire five years thereafter. The closing of the offering is expected to occur on or about June 25, subject to the satisfaction of customary closing conditions. The aggregate gross proceeds to the company from the offering are expected to be approximately $50M, before deducting the placement agent fees and other offering expenses payable by the company. Roth Capital Partners and H.C. Wainwright & Co. are acting as the exclusive co-placement agents for the offering.
Toyo CEO Reaffirms 2026 Outlook, Anticipates Solar Shipments of 5.8 GW
Toyo CEO Takahiko Onozuka stated, "Following our strong first-quarter performance, we are reaffirming our full-year 2026 outlook, which reflects our confidence in the sustained U.S. demand for high-efficiency solar solutions. We anticipate solar cell shipments to reach between 5.5 GW and 5.8 GW in 2026, bolstered by our scaled manufacturing capabilities. Furthermore, as we deepen our downstream presence, we expect solar module shipments to reach 1.0 GW to 1.3 GW this year. We expect, with our focus on supply chain resilience, to achieve a full-year adjusted net income in the range of $90M-$100M. We are continuing to move forward with our plans for a domestic cell plant as part of our commitment to reshore solar production and advance toward a more integrated supply chain in the United States to meet the needs of our customers for high performance solar solutions aligned with the evolving policy environment. We are also moving forward to establish a U.S. R&D center to bring next-generation technologies that will bolster energy security and meet the surging demand for on- and off-grid electricity to power the AI economy".
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