# EDGAR Filing Document

**Accession Number:** 0002028318
**File Stem:** 0001213900-25-076996
**Filing Date:** 2025-8
**Character Count:** 13486
**Document Hash:** ddb52bb90a6998aeddf1a4c7ef898412
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-076996.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0001213900-25-076996

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250814

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TOYO Co., Ltd
- **CENTRAL INDEX KEY:** 0001985273
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS MANUFACTURING INDUSTRIES [3990]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-94722
- **FILM NUMBER:** 251222258

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** TENNOZ FIRST TOWER, F16
- **STREET 2:** 2-2-4, HIGASHI-SHINAGAWA, SHINAGAWA-KU
- **CITY:** TOKYO
- **PROVINCE COUNTRY:** M0
- **ZIP:** 140-0002
- **BUSINESS PHONE:** 81 3-6433-2789

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** TENNOZ FIRST TOWER, F16
- **STREET 2:** 2-2-4, HIGASHI-SHINAGAWA, SHINAGAWA-KU
- **CITY:** TOKYO
- **PROVINCE COUNTRY:** M0
- **ZIP:** 140-0002
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ryu Junsei
- **CENTRAL INDEX KEY:** 0002028318

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**MAIL ADDRESS:**
- **STREET 1:** TENNOZ FIRST TOWER F5, 2-2-4
- **STREET 2:** HIGASHI-SHINAGAWA, SHINAGAWA-KU
- **CITY:** TOKYO
- **STATE:** M0
- **ZIP:** 140-0002

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 1)**

**Issuer:** TOYO Co., Ltd

**Title of Class of Securities:** Ordinary Shares, par value $0.0001 per share

**CUSIP Number:** G8976D107

**Date of Event Which Requires Filing of this Statement:** 06/30/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [ ] Rule 13d-1(c)

- [x] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>BestToYo Technology Company Limited | Names of Reporting Persons<br>BestToYo Technology Company Limited |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>9623757.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>9623757.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>9623757.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>9623757.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>27.3% | Percent of Class Represented by Amount in Row (9)<br>27.3% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** (1) Represents 9,623,757 ordinary shares, par value $0.0001 per share (the "Ordinary Shares"), of TOYO Co., Ltd (the "Issuer") directly held by BestToYo Technology Company Limited ("BestToYo"). Mr. Junsei Ryu is the sole director of BestToYo and deemed to have voting, dispositive or investment powers over BestToYo.

(2) Based on an aggregate of 35,308,040 Ordinary Shares issued and outstanding hereof based on such information as disclosed in the Issuer's annual report on Form 20-F filed on May 12, 2025, giving effect to the cancellation of 11,287,703 earnout shares (See "Item 4.A. - History and Development of the Company - Earnout Shares" of such annual report for more details).

---

| 1. | Names of Reporting Persons<br>WA Global Corporation | Names of Reporting Persons<br>WA Global Corporation |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>15153628.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>15153628.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>15153628.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>15153628.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>42.9% | Percent of Class Represented by Amount in Row (9)<br>42.9% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** (3) Represents 15,153,628 Ordinary Shares directly held by WA Global Corporation ("WAG"). Mr. Junsei Ryu is the sole director of WAG and deemed to have voting, dispositive or investment powers over WAG.

(4) Based on an aggregate of 35,308,040 Ordinary Shares issued and outstanding hereof based on such information as disclosed in the Issuer's annual report on Form 20-F filed on May 12, 2025, giving effect to the cancellation of 11,287,703 earnout shares (See "Item 4.A. - History and Development of the Company - Earnout Shares" of such annual report for more details).

---

| 1. | Names of Reporting Persons<br>Junsei Ryu | Names of Reporting Persons<br>Junsei Ryu |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>M0 | Citizenship or Place of Organization<br>M0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>24777385.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>24777385.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>24777385.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>24777385.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>70.2% | Percent of Class Represented by Amount in Row (9)<br>70.2% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** (5) Represents (i) 9,623,757Ordinary Shares held by BestToYo, and (ii) 15,153,628  Ordinary Shares held by WAG. Mr. Ryu also serves as the sole director of BestToYo and WAG, respectively.

(6) Based on an aggregate of 35,308,040 Ordinary Shares issued and outstanding hereof based on such information as disclosed in the Issuer's annual report on Form 20-F filed on May 12, 2025, giving effect to the cancellation of 11,287,703 earnout shares (See "Item 4.A. - History and Development of the Company - Earnout Shares" of such annual report for more details).

---

**Item 1(a). Name of Issuer:**
TOYO Co., Ltd

**Item 1(b). Address of Issuer's Principal Executive Offices:**
Tennoz First Tower F16, 2-2-4, Higashi-shinagawa, Shinagawa-ku, Tokyo, Japan 140-0002

**Item 2(a). Name of Person Filing:**
(1) BestToYo Technology Company Limited

(2) WA Global Corporation

(3) Junsei Ryu

**Item 2(b). Address of Principal Business Office:**
(1) BestToYo Technology Company Limited: c/o TOYO Co., Ltd, Tennoz First Tower F16, 2-2-4, Higashi-shinagawa, Shinagawa-ku, Tokyo, Japan 140-0002

(2) WA Global Corporation: c/o TOYO Co., Ltd, Tennoz First Tower F16, 2-2-4, Higashi-shinagawa, Shinagawa-ku, Tokyo, Japan 140-0002

(3) Junsei Ryu: c/o TOYO Co., Ltd, Tennoz First Tower F16, 2-2-4, Higashi-shinagawa, Shinagawa-ku, Tokyo, Japan 140-0002

**Item 2(c). Citizenship:**
(1) BestToYo Technology Company Limited: a Cayman Islands exempted company

(2) WA Global Corporation: a Cayman Islands exempted company

(3) Junsei Ryu: Japanese

**Item 2(d). Title of Class of Securities:**
Ordinary Shares, par value $0.0001 per share

**Item 2(e). CUSIP Number:**
G8976D107

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

(1) BestToYo Technology Company Limited: 9,623,757
(2) WA Global Corporation: 15,153,628
(3) Junsei Ryu: 24,777,385, including (i) 9,623,757 Ordinary Shares held by BestToYo, and (ii) 15,153,628 Ordinary Shares held by WAG.

**(b) Percent of class:**

(1) BestToYo Technology Company Limited: 27.3%
(2) WA Global Corporation: 42.9%
(3) Junsei Ryu: 70.2%

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

(1) BestToYo Technology Company Limited: 9,623,757
(2) WA Global Corporation: 15,153,628
(3) Junsei Ryu: 24,777,385

**(ii) Shared power to vote or to direct the vote:**

(1) BestToYo Technology Company Limited: 0
(2) WA Global Corporation: 0
(3) Junsei Ryu: 0

**(iii) Sole power to dispose or to direct the disposition of:**

(1) BestToYo Technology Company Limited: 9,623,757
(2) WA Global Corporation: 15,153,628
(3) Junsei Ryu: 24,777,385

**(iv) Shared power to dispose or to direct the disposition of:**

(1) BestToYo Technology Company Limited: 0
(2) WA Global Corporation: 0
(3) Junsei Ryu: 0

**Item 5. Ownership of Five Percent or Less of a Class.**

[ ] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

—

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**BestToYo Technology Company Limited**

**Date:** 08/14/2025

**By:** /s/ Junsei Ryu

**Name & Title:** Junsei Ryu/Director

**WA Global Corporation**

**Date:** 08/14/2025

**By:** /s/ Junsei Ryu

**Name & Title:** Junsei Ryu/Director

**Junsei Ryu**

**Date:** 08/14/2025

**By:** /s/ Junsei Ryu

**Name & Title:** Junsei Ryu