TOYO Co., Ltd. Joins Russell 3000® and Russell Microcap® Indexes

Rhea-AI Summary

TOYO (Nasdaq: TOYO), a solar manufacturing company, announced its addition to the Russell 3000® Index and the Russell Microcap® Index, effective at the US market close on June 26, 2026.

TOYO highlights its phased U.S. solar manufacturing strategy, including a Houston module facility targeted for 2GW annual capacity in 2026 and a planned 1.5GW HJT solar cell facility, aiming to enhance its institutional profile and access to capital markets.

Positive

• Added to Russell 3000® and Russell Microcap® indexes effective June 26, 2026
• Indexes benchmark about $12.2 trillion in assets as of June 2025
• Houston module facility targeted to reach 2GW annual capacity in 2026
• Planned 1.5GW HJT solar cell facility underway in the U.S.
• Company expects broader institutional profile to aid capital markets access

Negative

• None.

News Market Reaction – TOYO

-1.24%

28 alerts

-1.24% Session close to close

-7.1% Trough in 29 hr 7 min

$295.62M Market Cap

0.9x Rel. Volume

In the Jun 29 session, TOYO declined 1.24%, reflecting a mild negative market reaction. Argus tracked a trough of -7.1% from its starting point during tracking. Our momentum scanner triggered 28 alerts that day, indicating elevated trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement adds TOYO to the Russell 3000® and Russell Microcap® indexes, potentially broadeni...

Analysis

This announcement adds TOYO to the Russell 3000® and Russell Microcap® indexes, potentially broadening institutional awareness as it targets 2GW module and 1.5 GW HJT cell capacity; investors may watch how the active F-3 shelf and high short interest interact with future capital needs.

Key Figures

Assets benchmarked: $12.2 trillion Module capacity target: 2GW Planned HJT cell capacity: 1.5 GW

3 metrics

Assets benchmarked $12.2 trillion Assets benchmarked against Russell US indexes as of end of June 2025

Module capacity target 2GW Target annual capacity for Houston solar module facility in 2026

Planned HJT cell capacity 1.5 GW Planned capacity for HJT solar cell facility under development

Historical Context

5 past events · Latest: Jun 24 (Negative)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 24	Registered offering	Negative	-38.8%	Dilutive registered direct equity offering to fund new HJT cell facility.
Jun 10	Supply agreements	Positive	-2.5%	Two major U.S. supply deals totaling $185.6M in cumulative module orders.
Jun 08	U.S. expansion plan	Positive	-13.6%	Announcement of 1.5 GW HJT cell facility with sizable capital investment.
May 22	Investor conference	Neutral	+3.1%	Participation in Bank of America cleantech conference with investor meetings.
May 18	Q1 earnings	Positive	+16.8%	Strong Q1 growth, margin expansion, and reaffirmed full-year adjusted net income.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

TOYO has seen sharp selloffs on financing and expansion news, while strong earnings updates have attracted a notably positive price reaction.

Key Terms

russell 3000® index, russell microcap® index, ftse russell, hjt

4 terms

russell 3000® index financial

"added to the broad-market Russell 3000® Index and the Russell Microcap® Index"

A broad stock market index that tracks the performance of about 3,000 publicly traded U.S. companies of all sizes, acting as a wide-ranging snapshot of the U.S. equity market. It matters to investors because it serves as a common yardstick for the overall market’s health and is the basis for many index funds and investment strategies—think of it as a single basket that shows how the whole U.S. stock market is doing.

russell microcap® index financial

"added to the broad-market Russell 3000® Index and the Russell Microcap® Index"

A market index that tracks the performance of the smallest publicly traded U.S. companies by market value, the Russell Microcap® Index acts like a thermometer for the microcap segment of the stock market. Investors use it as a benchmark to measure how tiny, often more volatile firms are performing relative to broader markets, helping with portfolio allocation, risk assessment and comparing the returns of funds focused on very small-cap stocks.

ftse russell financial

"benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider"

FTSE Russell is a global index provider that creates and maintains lists (indexes) showing how groups of stocks perform, similar to a scoreboard that ranks companies by size, sector and trading activity. Investors use these indexes as benchmarks and as the basis for investment products like index funds and ETFs, so when a stock is added or removed it can trigger buying or selling that affects its price and liquidity.

hjt technical

"planned 1.5 GW HJT solar cell facility underway— we believe this expanded"

HJT stands for heterojunction technology, a method for making solar cells that combines two different types of silicon layers to boost efficiency and reduce energy loss. Think of it as sandwiching a high-performance layer onto a durable core so the panel converts more sunlight into electricity while running cooler and degrading more slowly. Investors care because HJT-equipped panels can command higher prices, lower operating costs, and may extend product lifetimes, all of which affect a solar maker’s margins and long-term returns.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TOKYO, June 29, 2026 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF), ("TOYO" or the "Company"), a solar manufacturing company, today announced that it has been added to the broad-market Russell 3000^® Index and the Russell Microcap^® Index at the conclusion of the 2026 Russell US Indexes Reconstitution, effective at the US market close on June 26, 2026.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2025, about $12.2 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider.

"Inclusion in the Russell 3000^® and Russell Microcap^® Indexes marks an important milestone in TOYO's development as a publicly listed company," said Mr. Takahiko Onozuka Chief Executive Officer of TOYO. "As we execute on our phased U.S. solar manufacturing strategy — including our Houston module facility, targeted to reach 2GW of annual capacity in 2026, and our planned 1.5 GW HJT solar cell facility underway— we believe this expanded institutional profile will support our ability to access capital markets and build long-term shareholder value. We thank our investors for their continued confidence in TOYO's mission."

About TOYO Co., Ltd.

TOYO is a solar manufacturing company that is committed to becoming a vertically integrated solar manufacturer in the global market, integrating the upstream production of wafers and silicon, midstream production of solar cells, downstream production of photovoltaic modules, and potentially other stages of the solar power supply chain. TOYO is well-positioned to produce high-quality solar cells and modules at a competitive scale and cost.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to expectations regarding inclusion in the Russell 3000® Index and Russell Microcap^®, impacts thereof, and timing of any of the foregoing, the build-out of TOYO's U.S. manufacturing platform, including a potential domestic cell plant, and the Company's broader U.S. supply chain strategy. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of TOYO's management and are not predictions of actual performance.

These statements involve risks, uncertainties, and other factors that may cause actual results, activity levels, performance, or achievements to materially differ from those expressed or implied by these forward-looking statements. Although TOYO believes that it has a reasonable basis for each forward-looking statement contained in this press release, TOYO cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there are risks and uncertainties described in the documents filed by TOYO from time to time with the Securities and Exchange Commission. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Except as may be required by law, TOYO does not undertake any duty to update these forward-looking statements.

Contact Information:

For TOYO Co., Ltd.
IR@toyo-solar.com

Crocker Coulson
Email: crocker.coulson@aumadvisors.com
Tel: (646) 652-7185

View original content:https://www.prnewswire.com/news-releases/toyo-co-ltd--joins-russell-3000-and-russell-microcap-indexes-302813063.html

SOURCE TOYO Co., Ltd.

FAQ

What did TOYO (Nasdaq: TOYO) announce about Russell indexes on June 29, 2026?

TOYO announced it was added to the Russell 3000® and Russell Microcap® indexes, effective June 26, 2026. According to TOYO, this follows the 2026 Russell US Indexes Reconstitution and expands its visibility with institutional investors and index funds.

When does TOYO’s inclusion in the Russell 3000 and Russell Microcap indexes become effective?

TOYO’s inclusion became effective at the US market close on June 26, 2026. According to TOYO, this timing aligns with the conclusion of the 2026 Russell US Indexes Reconstitution, which updates membership across Russell’s broad-market benchmarks.

Why is TOYO’s addition to the Russell 3000® Index important for shareholders?

Index inclusion can increase exposure to institutional investors and index funds. According to TOYO, the expanded institutional profile may support future access to capital markets and its goal of building long-term shareholder value through its U.S. solar manufacturing strategy.

How much capital is benchmarked to the Russell US indexes that now include TOYO?

About $12.2 trillion in assets were benchmarked to Russell US indexes as of June 2025. According to TOYO, these indexes, owned by FTSE Russell, are widely used by investment managers and institutional investors for index funds and performance benchmarks.

What U.S. solar manufacturing plans did TOYO highlight with its index inclusion news?

TOYO highlighted a phased U.S. solar manufacturing strategy, including a Houston module facility. According to TOYO, this facility is targeted to reach 2GW annual capacity in 2026 and is complemented by a planned 1.5GW HJT solar cell facility underway.

How might TOYO’s Russell index inclusion affect its access to capital markets?

TOYO believes index inclusion will support its ability to access capital markets. According to TOYO, the broader institutional profile from being in the Russell 3000® and Russell Microcap® indexes aligns with its efforts to fund and grow its U.S. solar manufacturing operations.