TOYO Appoints Yasunari Harada as Chief Financial Officer and Director

Rhea-AI Summary

TOYO (Nasdaq: TOYO), a solar manufacturing company, appointed Yasunari Harada as Chief Financial Officer and director, effective July 1, 2026, replacing Taewoo “Raymond” Chung, who resigned June 30, 2026.

Harada brings over 30 years of senior investment banking and board experience across Asia and Central Asia.

News Market Reaction – TOYWF

+18.51%

+18.51% Session close to close

In the Jul 1 session, TOYWF gained 18.51%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock surged +18.5% in the session following this news. A strong positive reaction aligns with t...

Analysis

The stock surged +18.5% in the session following this news. A strong positive reaction aligns with the market’s focus on leadership quality, as TOYO adds a CFO with 30+ years at major banks. Governance shifts can reassess financing plans, but recent equity offerings remain a key overhang.

Key Figures

Leadership experience: over 30 years Effective date: July 1, 2026 Resignation date: June 30, 2026

3 metrics

Leadership experience over 30 years Harada’s senior leadership at investment banks

Effective date July 1, 2026 Harada appointment as CFO and director

Resignation date June 30, 2026 Chung resignation as CFO and director

Historical Context

5 past events · Latest: Jun 29 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 29	Index inclusion	Positive	-2.4%	Added to Russell 3000 and Russell Microcap indexes to broaden investor base.
Jun 26	Financing / offering	Negative	-10.7%	Closed $50M registered direct offering with shares and warrants for growth funding.
Jun 24	Financing announcement	Negative	-44.6%	Entered definitive agreements for $50M registered direct equity and warrant offering.
Jun 10	Commercial contracts	Positive	+0.0%	Signed two major U.S. supply agreements totaling $185.6M cumulative purchase orders.
Jun 08	Capacity expansion	Negative	-25.1%	Announced $357M 1.5 GW HJT solar cell facility plan with 20‑month ramp timeline.

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

Pattern Detected

Recent news and financing events often saw negative or flat next-day moves, even when strategically positive.

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

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TOKYO, July 1, 2026 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF), ("TOYO" or the "Company"), a solar manufacturing company, today announced the appointment of Yasunari Harada as Chief Financial Officer and a director of the Company, effective July 1. Mr. 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. Mr. Harada is replacing Taewoo "Raymond" Chung, who resigned as Chief Financial Officer and a director, effective June 30, 2026.

Mr. 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 Société Générale 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.

"Yasunari's appointment marks a defining moment for TOYO," said Mr. Takahiko Onozuka, Chief Executive Officer. "His extensive experience will be instrumental as we refine our financial strategy, deepen our engagement with the investment community, and expand our institutional footprint. We also extend our sincere gratitude to Mr. Chung for his dedicated service to TOYO, and wish him every success in his future endeavors."

Mr. Harada's appointment strengthens a leadership team already positioned for the next phase, bringing world-class financial discipline, cross-border capital markets access, and the credibility of a career built at globally recognized institutions.

"TOYO has a strong foundation, and I am dedicated to helping drive our growth," said Mr. Harada. "I look forward to working closely with Mr. Onozuka and the entire team to build shareholder value, strengthen our financial position, and demonstrate TOYO's potential to the global investment community."

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

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "look forward to," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled "Risk Factors" in TOYO's annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in TOYO's subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. TOYO specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.

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-appoints-yasunari-harada-as-chief-financial-officer-and-director-302815528.html

SOURCE TOYO Co., Ltd

FAQ

What CFO change did TOYO (Nasdaq: TOYO) announce on July 1, 2026?

TOYO announced that Yasunari Harada became Chief Financial Officer and a director effective July 1, 2026. According to TOYO, he replaces Taewoo “Raymond” Chung, who resigned as CFO and director effective June 30, 2026.

Who is Yasunari Harada, the new CFO of TOYO (TOYO)?

Yasunari Harada is a veteran finance executive with over 30 years in global investment banking. According to TOYO, he previously held senior roles at Morgan Stanley Securities, BNP Paribas Securities, and Société Générale Securities, and served on multiple Asian and Central Asian bank boards.

What experience does TOYO’s new CFO Yasunari Harada bring to the company?

Harada brings extensive senior leadership experience from major global financial institutions and bank boards in Asia and Central Asia. According to TOYO, his background includes roles at Morgan Stanley Securities, BNP Paribas Securities, Société Générale Securities, and directorships at Kyrgyzkommertsbank, Solid Bank, and Khan Bank.

Why does TOYO believe appointing Yasunari Harada as CFO is important for investors?

TOYO indicates Harada will play a central role in financial strategy, investor relations, and capital markets engagement. According to TOYO, his career at globally recognized institutions is expected to support cross-border capital markets access and enhance the company’s institutional footprint and credibility.

When did Taewoo "Raymond" Chung resign as CFO and director of TOYO (TOYO)?

Taewoo "Raymond" Chung resigned as Chief Financial Officer and director effective June 30, 2026. According to TOYO, his departure was followed by Yasunari Harada’s appointment as CFO and director effective July 1, 2026, ensuring immediate leadership continuity in the finance function.

How does Yasunari Harada describe his goals as TOYO’s new CFO?

Harada says he is dedicated to helping drive TOYO’s growth and build shareholder value. According to TOYO, he aims to strengthen the company’s financial position and highlight TOYO’s potential to the global investment community alongside CEO Takahiko Onozuka.