6-K
TOYO Co., Ltd (TOYO)
UNITED STATES
SECURITIES AND EXCHANGECOMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of December 2024
Commission File Number: 001-42153
TOYO Co., Ltd
5F, Tennoz First Tower
2-2-4, Higashi-Shinagawa, Shinagawa-ku
Tokyo, Japan 140-0002
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Explanatory Notes
On December 19, 2024, Abalance Corporation (“Abalance”), a Japanese public company listed on Tokyo Stock Exchange, issued a notice regarding the filing of a lawsuit against the Abalance and its seven subsidiaries including TOYO Co., Ltd in connection with a patent infringement litigation brough at the U.S. District Court for the Northern District of California.
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EXHIBIT INDEX
| Exhibit No. | Description |
|---|---|
| 99.1 | English translation of the Notice issued by Abalance Corporation dated December 19, 2024. |
2
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| TOYO Co., Ltd | |
|---|---|
| By: | /s/ Junsei Ryu |
| Name: | Junsei Ryu |
| Title: | Director and Chief Executive Officer |
Date: December 20, 2024
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Exhibit 99.1
December 19, 2024
Abalance Corporation
Preident：Okada Ryusuke
Stock Code：3856 Tokyo Stock Exchange
Contact：IR Uchida Shin
TEL：03-6810-3028
Notice Regarding the Filingof a Lawsuit Against the Company and Its Seven Subsidiaries
Our company and seven subsidiaries, including Vietnam Sunergy Joint Stock Company (hereinafter referred to as “VSUN”)—collectively referred to as the “Group”—have been sued by the solar panel manufacturers SHANGHAI JINKO GREEN ENERGY ENTERPRISE MANAGEMENT CO., LTD. and ZHEJIANG JINKO SOLAR CO., LTD. (hereinafter collectively referred to as “JINKO”) over alleged patent infringement. The lawsuit (hereinafter referred to as the “Lawsuit”) was filed with the United States District Court for the Northern District of California, from which we have received the complaint. Details are as below .
1. Background Leading to the Filing of theLawsuit and Summary of the Claims
According to JINKO’s claims in the complaint, VSUN’s solar panel products (including TOPCON N-type solar panels) allegedly utilize JINKO’s patented technologies without authorization. JINKO asserts that the lawsuit was filed to recover damages for both past and future losses resulting from VSUN’s patent infringement.
Furthermore, JINKO is seeking, at a minimum, compensation for damages, including reasonable royalties and lost profits derived from the use of the patented technologies by the Group, as well as an injunction against further acts of patent infringement.
2. Jurisdiction andRelevant Dates
(1) Court: United States District Court for the Northern District of California
(2) Filing Date: December 6, 2024
(3) Notification receipt Date: December 13, 2024
3. Overview of the Plaintiff Companies ThatFiled the Lawsuit (Two Companies Below)
(1) Name: SHANGHAI JINKO GREEN ENERGY ENTERPRISE MANAGEMENT CO., LTD.
Address: 5F, No. 277 Huqingping Road, Minhang District, Shanghai, China
Representative: Legal Representative: Cao Haiyun
(2) Name: ZHEJIANG JINKO SOLAR CO., LTD.
Address: 58 Yuan Xi Road, Yuan Hua Town, Haining, Zhejiang Province, China
Representative: Legal Representative: Chen Jingwei
4. Details of the Lawsuit and Claim Amount
(1) Details of the Lawsuit:
Claims for damages and an injunction related to patent infringement
(2) Value of the Claim:
Undetermined
5. Future Outlook
Our group will continue to respect intellectual property rights and has initiated consultations with a specialized U.S. patent law firm regarding this matter. We are thoroughly examining the plaintiff’s claims and demands while asserting the legitimacy of our group’s position in this litigation. At this point, it is difficult to anticipate the potential impact of this lawsuit on our group’s consolidated financial results. However, we will promptly disclose any matters that require announcement as they arise.