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 – TOYWF

-2.40%

-2.40% Session close to close

In the Jun 29 session, TOYWF declined 2.40%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights TOYO’s inclusion in widely tracked Russell indexes, potentially increas...

Analysis

This announcement highlights TOYO’s inclusion in widely tracked Russell indexes, potentially increasing institutional visibility. It complements prior U.S. manufacturing expansion plans of 2 GW modules and 1.5 GW cells, with execution and financing remaining key watchpoints.

Key Figures

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

3 metrics

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

Module capacity target 2 GW annual capacity Houston module facility targeted capacity in 2026

Planned cell capacity 1.5 GW Planned HJT solar cell facility capacity underway

Historical Context

5 past events · Latest: Jun 24 (Negative)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 24	Registered offering	Negative	-44.6%	Dilutive $50M registered direct offering with warrants at set price.
Jun 10	Supply agreements	Positive	+0.0%	Two major U.S. supply agreements totaling $185.6M in purchase orders.
Jun 08	U.S. cell expansion	Positive	-25.1%	Planned 1.5 GW HJT solar cell facility with significant capex and jobs.
May 22	Conference participation	Neutral	+7.8%	Participation in Bank of America Power, Utilities, and Cleantech Conference.
May 18	Q1 2026 earnings	Positive	+55.6%	Strong Q1 growth, margin expansion, and reaffirmed 2026 earnings guidance.

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

Pattern Detected

Recent history shows strong stock moves around capital raises and earnings, with occasional divergences on positive operational news.

Key Terms

russell 3000® index, russell microcap® index, index funds, hjt solar cell

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.

index funds financial

"used by investment managers and institutional investors for index funds and as benchmarks"

A fund that pools investors’ money to buy the same collection of stocks or bonds that make up a market index — like a ready-made basket representing the whole market or a specific slice of it. It matters because it gives broad exposure with lower fees and simpler management than picking individual securities, reducing the impact of any single holding and making it efficient for long-term investing.

hjt solar cell technical

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

A HJT solar cell (heterojunction with intrinsic thin-layer) is a rooftop-style solar panel built by layering very thin, dissimilar silicon films onto a conventional silicon wafer, like a high-performance sandwich that combines the strengths of both materials. It matters to investors because HJT cells generally deliver higher efficiency, better performance in hot conditions and lower degradation over time, which can boost energy output and improve project returns and equipment competitiveness despite typically higher upfront manufacturing costs.

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.