N.A.GLOBAL. CO. LTD. and its sole director and shareholder Chong Chow Lee report beneficial ownership of 2,094,516 Ordinary Shares of TOYO Co., Ltd, representing 4.90% of the Ordinary Shares outstanding. This percentage is based on 42,718,948 Ordinary Shares issued and outstanding as of June 23, 2026.
Both reporting persons have sole voting and dispositive power over these 2,094,516 shares and no shared power. A total of 721,909 Ordinary Shares have been pledged as collateral under several loan agreements with a third-party lender; the lender lacks voting and dispositive power over these pledged shares prior to any event of default, though they are deemed beneficially owned by the lender under applicable rules. NA Global has sold 74,251 Ordinary Shares between February 9 and March 5, 2026 and 377,320 Ordinary Shares between May 20 and June 24, 2026.
Positive
None.
Negative
None.
Key Figures
Beneficially owned shares:2,094,516 Ordinary SharesOwnership percentage:4.90%Shares outstanding:42,718,948 Ordinary Shares+3 more
6 metrics
Beneficially owned shares2,094,516 Ordinary SharesShares beneficially owned by N.A.GLOBAL. CO. LTD. and Chong Chow Lee
Ownership percentage4.90%Percent of TOYO Ordinary Shares beneficially owned by each reporting person
Shares outstanding42,718,948 Ordinary SharesIssued and outstanding as of June 23, 2026
Pledged collateral shares721,909 Ordinary SharesTotal Ordinary Shares pledged as collateral under loan agreements
Shares sold Feb–Mar 202674,251 Ordinary SharesSold between February 9, 2026 and March 5, 2026
Shares sold May–Jun 2026377,320 Ordinary SharesSold between May 20, 2026 and June 24, 2026
Key Terms
beneficially owned, sole dispositive power, pledged as collateral, Rules 13-3(d)(3)(ii) and (iii), +1 more
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
sole dispositive powerfinancial
"Sole Dispositive Power 2,094,516.00"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
pledged as collateralfinancial
"Excludes a total of 721,909 Ordinary Shares that have been pledged as collateral"
Rules 13-3(d)(3)(ii) and (iii)regulatory
"does not satisfy the requirements under Rules 13-3(d)(3)(ii) and (iii)"
percent of classfinancial
"Percent of class: (1) N.A.GLOBAL. CO. LTD.: 4.90%"
Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.
What percentage of TOYO (TOYO) does N.A.GLOBAL. CO. LTD. currently own?
N.A.GLOBAL. CO. LTD. reports beneficial ownership of 4.90% of TOYO’s Ordinary Shares. This reflects 2,094,516 shares out of 42,718,948 Ordinary Shares outstanding as of June 23, 2026.
How many TOYO (TOYO) shares are beneficially owned by Chong Chow Lee?
Chong Chow Lee is deemed to beneficially own 2,094,516 Ordinary Shares of TOYO. He is the sole director and sole shareholder of N.A.GLOBAL. CO. LTD. and has sole voting and dispositive power over these shares.
How many TOYO (TOYO) shares have been pledged as collateral?
A total of 721,909 Ordinary Shares have been pledged as collateral under multiple loan agreements with a third-party lender. The lender has no voting or dispositive power over these pledged shares before an event of default.
How many TOYO (TOYO) shares did NA Global sell in 2026?
NA Global sold 74,251 Ordinary Shares between February 9 and March 5, 2026, and 377,320 Ordinary Shares between May 20 and June 24, 2026, as disclosed in the ownership footnotes.
What is the total number of TOYO (TOYO) shares outstanding used for the ownership calculation?
The ownership percentage is calculated using 42,718,948 Ordinary Shares issued and outstanding as of June 23, 2026, as disclosed in TOYO Co., Ltd’s prospectus supplement dated June 23, 2026.
Who has voting and dispositive power over the TOYO (TOYO) shares held by NA Global?
N.A.GLOBAL. CO. LTD. holds 2,094,516 shares with sole voting and dispositive power. As sole director and shareholder of NA Global, Chong Chow Lee is deemed to have voting, dispositive, or investment power over these shares.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
TOYO Co., Ltd
(Name of Issuer)
Ordinary Shares, par value $0.0001 per share
(Title of Class of Securities)
G8976D107
(CUSIP Number)
06/30/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
G8976D107
1
Names of Reporting Persons
N.A.GLOBAL. CO. LTD.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
JAPAN
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
2,094,516.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
2,094,516.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,094,516.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.90 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: (1) Represents 2,094,516 ordinary shares, par value $0.0001 per share (the "Ordinary Shares"), of TOYO Co., Ltd (the "Issuer") directly held by N.A.GLOBAL. CO. LTD. ("NA Global"). Mr. Chong Chow Lee is the sole director and sole shareholder of NA Global and deemed to have voting, dispositive or investment power over NA Global. (2) Based on an aggregate of 42,718,948 Ordinary Shares issued and outstanding as of June 23, 2026 as disclosed in the Issuer's prospectus supplement (File No. 333-290952) dated June 23, 2026 and filed on June 25, 2026. (3) Excludes a total of 721,909 Ordinary Shares that have been pledged as collateral pursuant to three loan agreements entered into with a third-party lender on March 13, 2026 (225,000 Ordinary Shares), March 17, 2026 (275,000 Ordinary Shares) , April 23, 2026 (200,000 Ordinary Shares), July 6, 2026 (4,950 Ordinary Shares) and July 15, 2026 (16,959 Ordinary Shares). Under the terms of the loan agreements, the third-party lender does not have the power to vote or direct the vote of the pledged shares or dispose or direct the disposition of the pledged shares prior to an event of default. However, the pledged shares are deemed to be beneficially owned by the third-party lender as such lender does not satisfy the requirements under Rules 13-3(d)(3)(ii) and (iii) under the Securities Exchange Act of 1934, as amended. (4) NA Global sold (i) 74,251 Ordinary Shares between February 9, 2026 and March 5, 2026 and (ii) 377,320 Ordinary Shares between May 20, 2026 and June 24, 2026.
SCHEDULE 13G
CUSIP Number(s):
G8976D107
1
Names of Reporting Persons
Chong Chow Lee
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
JAPAN
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
2,094,516.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
2,094,516.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,094,516.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.90 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: (1) Represents 2,094,516 Ordinary Shares directly held by NA Global. Mr. Chong Chow Lee is the sole director and sole shareholder of NA Global and deemed to have voting, dispositive or investment power over NA Global. (2) Based on an aggregate of 42,718,948 Ordinary Shares issued and outstanding as of June 23, 2026 as disclosed in the Issuer's prospectus supplement (File No. 333-290952) dated June 23, 2026 and filed on June 25, 2026. (3) Excludes 700,000 Ordinary Shares that have been pledged as collateral pursuant to three loan agreements entered into with a third-party lender on March 13, 2026 (225,000 Ordinary Shares), March 17, 2026 (275,000 Ordinary Shares), April 23, 2026 (200,000 Ordinary Shares), and July 6, 2026 (4,950 Ordinary Shares) and July 15, 2026 (16,959 Ordinary Shares) Under the terms of the loan agreements, the third-party lender does not have the power to vote or direct the vote of the pledged shares or dispose or direct the disposition of the pledged shares prior to an event of default. However, the pledged shares are deemed to be beneficially owned by the third-party lender as such lender does not satisfy the requirements under Rules 13-3(d)(3)(ii) and (iii) under the Securities Exchange Act of 1934, as amended. (4) NA Global sold (i) 74,251 Ordinary Shares between February 9, 2026 and March 5, 2026 and (ii) 377,320 Ordinary Shares between May 20, 2026 and June 24, 2026.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
TOYO Co., Ltd
(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) N.A.GLOBAL. CO. LTD. (2) Chong Chow Lee
(b)
Address or principal business office or, if none, residence:
(1) N.A.GLOBAL. CO. LTD.: 2-12-2, Taito Taito-Ku, Tokyo, Japan 110-0016 (2) Chong Chow Lee: c/o N.A.GLOBAL. CO. LTD.: 2-12-2, Taito Taito-Ku, Tokyo, Japan 110-0016
(c)
Citizenship:
(1) N.A.GLOBAL. CO. LTD.: a Japan corporation (2) Chong Chow Lee: Japanese
(d)
Title of class of securities:
Ordinary Shares, par value $0.0001 per share
(e)
CUSIP No.:
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).
(iv) Shared power to dispose or to direct the disposition of:
(1) N.A.GLOBAL. CO. LTD.: 0 (2) Chong Chow Lee: 0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
Ownership of 5 percent or less of a class
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
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.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
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.
N.A.GLOBAL. CO. LTD.
Signature:
/s/ N.A.GLOBAL. CO. LTD.
Name/Title:
Chong Chow Lee; Director
Date:
07/20/2026
Chong Chow Lee
Signature:
/s/ Chong Chow Lee
Name/Title:
Chong Chow Lee
Date:
07/20/2026
Exhibit Information
Exhibit No. Title 1 Joint Filing Agreement, dated June 27, 2025
