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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the U.S. Securities and Exchange
  Commission on January 31, 2025</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 24pt"><B>Registration No. 333-[__]</B></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 24pt"></P>
  
  <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
  SECURITIES AND EXCHANGE COMMISSION<BR>
  Washington, D.C. 20549</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-8<BR>
  REGISTRATION STATEMENT<BR>
  UNDER<BR>
  THE SECURITIES ACT OF 1933</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TOYO Co., Ltd<BR>
  (Exact Name of Registrant as Specified in its Charter)</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="border-bottom: black 1.5pt solid; width: 49%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Cayman Islands</B></FONT></TD>
      <TD STYLE="white-space: nowrap; width: 2%">&nbsp;</TD>
      <TD STYLE="border-bottom: black 1.5pt solid; width: 49%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Not applicable</B></FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or Other Jurisdiction of<BR>
  Incorporation or Organization)</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S.&nbsp;Employer<BR>
  Identification Number)</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Tennoz First Tower F5, 2-2-4</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Higashi-shinagawa, Shinagawa-ku</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Tokyo, Japan 140-0002<BR>
  </B>(Address of Principal Executive Offices) (Zip Code)</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2024 Share Incentive Plan</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Full title of the plan)</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Puglisi &amp; Associates<BR>
  850 Library Avenue, Suite 204<BR>
  Newark, Delaware 19711<BR>
  </B>(Name, address, including zip code, and telephone number, including area code, of agent for service)</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Copies to:</I></B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Arila Zhou, Esq.<BR>
  Robinson&nbsp;&amp; Cole LLP<BR>
  Chrysler East Building<BR>
  666 Third Avenue, 20<SUP>th</SUP> Floor<BR>
  New York, NY 10017<BR>
  Tel:&nbsp;212-451-2908</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
  is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.
  See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo;
  and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 10%">&nbsp;</TD>
      <TD STYLE="width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer &#9744;</FONT></TD>
      <TD STYLE="width: 35%">&nbsp;</TD>
      <TD STYLE="width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer &#9744;</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer &#9746;</FONT></TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company &#9744;</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company &#9746;</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If an emerging growth company, indicate by check
  mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
  standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. &#9744;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Part I</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1. Plan Information.*</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2. Registrant Information and Employee Plan Annual Information.*</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The documents containing the information specified in Part I of Form S-8 will be sent or given to participants as specified by Rule 428(b)(1) under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). In accordance with the rules and regulations of the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) and the instructions to Form S-8, such documents are not being filed with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act.</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Part II</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 3. Incorporation of Documents by Reference.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following documents previously
  filed or furnished by the Registrant with the SEC are incorporated herein by reference in this Registration Statement:</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 48px">&nbsp;</TD>
      <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Registrant&rsquo;s
  prospectus filed with the Commission on December 26, 2024 pursuant to Rule <A HREF="http://www.sec.gov/Archives/edgar/data/1985273/000121390024112152/ea0212763-05.htm">424(b)</A> under the Securities Act, relating to the registration statement
  on <A HREF="http://www.sec.gov/Archives/edgar/data/1985273/000121390024105743/ea0212763-03.htm">Form F-1</A>, as amended (File No. 333-283617);</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 48px">&nbsp;</TD>
      <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All other reports filed by the Registrant pursuant to Section 13(a) or 15(d) of the Exchange Act; and</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 48px">&nbsp;</TD>
      <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The description of the
      Registrant&rsquo;s Ordinary Shares incorporated by reference in the Registrant&rsquo;s registration statement on <A HREF="http://www.sec.gov/Archives/edgar/data/1985273/000121390024056898/ea0208533-8a12b_toyoco.htm">Form 8-A</A></FONT><FONT STYLE="font-size: 10pt">    <FONT STYLE="font-family: Times New Roman, Times, Serif">(File No. 001-42153) filed with the Commission on June 28, 2024, including
      any amendment and report subsequently filed for the purpose of updating that description; and</FONT></FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All documents filed by the
  Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act subsequent to the date hereof, prior to the filing of a
  post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining
  unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing
  of such documents; provided, however, that, unless expressly incorporated into this registration statement, documents or information deemed
  to have been furnished and not filed in accordance with SEC rules shall not be deemed incorporated by reference into this Registration
  Statement. Any statement contained herein or in a document, all or a portion of which is incorporated or deemed to be incorporated by
  reference herein, shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement
  contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies
  or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or amended, to constitute
  a part of this Registration Statement.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 4. Description of Securities.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5. Interests of Named Experts and Counsel.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 6. Indemnification of Directors and Officers.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The laws of the Cayman Islands
  do not limit the extent to which a company&rsquo;s memorandum and articles of association may provide for indemnification of officers
  and directors, except to the extent any such provision may be held by the Islands courts to be contrary to public policy, such as to provide
  indemnification against willful default, willful neglect, civil fraud or the consequences of committing a crime. The Registrant&rsquo;s
  Amended and Restated Memorandum and Articles of Association provides that the Registrant shall indemnify each existing or former secretary,
  director (including alternate director), and other officer of the Registrant (including an investment adviser or an administrator or liquidator)
  and their personal representatives against (a) all actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred
  or sustained by the existing or former secretary or officer in or about the conduct of the Registrant&rsquo;s business or affairs or in
  the execution or discharge of the existing or former secretary&rsquo;s or officer&rsquo;s duties, powers, authorities or discretions&#894;
  and (b) without limitation to (a), all costs, expenses, losses or liabilities incurred by the existing or former secretary or officer
  in defending (whether successfully or otherwise) any civil, criminal, administrative or investigative (whether threatened, pending or
  completed) proceedings concerning the Registrant or its affairs in any court or tribunal, whether in the Cayman Islands or elsewhere.
  No such existing or former secretary or officer, however, shall be indemnified in respect of any matter arising out of his own actual
  fraud, willful default or willful neglect.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the indemnification
  agreement, the form of which was filed as Exhibit 10.1 to the Registrant&rsquo;s registration statement on Form F-4, as amended (File
  No. 333-277779), the Registrant agreed to indemnify each such person and hold him/her harmless against expenses, judgments, fines and
  amounts payable under settlement agreements in connection with any threatened, pending or completed action, suit or proceeding to which
  he/her has been made a party or in which he became involved by reason of the fact that he is or was the Registrant&rsquo;s director or
  officer. Except with respect to expenses to be reimbursed by the Registrant in the event that the indemnified person has been successful
  on the merits or otherwise in defense of the action, suit or proceeding, the Registrant obligations under the indemnification agreements
  are subject to certain customary restrictions and exceptions.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Insofar as indemnification
  for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing
  provisions, the Registrant has been informed that in the opinion of the SEC such indemnification is against public policy as expressed
  in the Securities Act and is theretofore unenforceable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 7. Exemption from Registration Claimed.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8. Exhibits.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">See Exhibit Index.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9. Undertakings.</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 48px">&nbsp;</TD>
      <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The undersigned Registrant hereby undertakes:</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 72px">&nbsp;</TD>
      <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 96px">&nbsp;</TD>
      <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to include any prospectus required by Section 10(a)(3) of the Securities Act;</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 96px">&nbsp;</TD>
      <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement; and</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 96px">&nbsp;</TD>
      <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>provided, however</I>, that paragraphs (a)(1)(i)
  and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
  in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that
  are incorporated by reference in this Registration Statement;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 72px">&nbsp;</TD>
      <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 72px">&nbsp;</TD>
      <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
      <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 48px">&nbsp;</TD>
      <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
      <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&rsquo;s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 48px">&nbsp;</TD>
      <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD>
      <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that, in the opinion of the Commission, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</FONT></TD></TR>
    </TABLE>
  
  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <P STYLE="margin-top: 0; margin-bottom: 0"></P>
  
  <!-- Field: Page; Sequence: 4; Value: 1 -->
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  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
  of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the
  requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
  duly authorized, in Japan, on 31st day of January, 2025</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TOYO Co., Ltd</B></FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD COLSPAN="2">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 60%">&nbsp;</TD>
      <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
      <TD STYLE="width: 35%; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/ Junsei Ryu</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Junsei Ryu</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer </FONT></TD></TR>
    <TR STYLE="vertical-align: top">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Executive Officer)</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><A NAME="a_001"></A>&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>POWER OF ATTORNEY</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">KNOW
  ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Junsei Ryu as his or her true and
  lawful attorney-in-fact, with the power of substitution, for and in such person&rsquo;s name, place, and stead, in any and all capacities,
  to sign any and all amendments (including post-effective amendments) to this registration statement, and to file the same, with all exhibits
  thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact
  full power and authority to do and perform each and every act and thing requisite and necessary to be done as fully to all intents and
  purposes as he or she might or could do in person, hereby ratifying and confirming all that each said attorney-in-fact may lawfully do
  or cause to be done by virtue hereof.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
  of the Securities Act&nbsp;of&nbsp;1933, as amended, this registration statement has been signed by the following persons in the capacities
  and on the dates indicated:</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="border-bottom: Black 1.5pt solid; width: 32%; padding-right: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Signature</B></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; white-space: nowrap; width: 1%">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; width: 43%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title</B></FONT></TD>
      <TD STYLE="padding-bottom: 1.5pt; white-space: nowrap; width: 1%">&nbsp;</TD>
      <TD STYLE="border-bottom: Black 1.5pt solid; width: 23%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date</B></FONT></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD>&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Junsei Ryu</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer, Director and </FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Junsei Ryu</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD>&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>(Principal Executive Officer)</I></FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 31, 2025</FONT></TD></TR>
    <TR>
      <TD STYLE="vertical-align: top; padding-bottom: 2.25pt">&nbsp;</TD>
      <TD STYLE="white-space: nowrap; vertical-align: top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/</FONT> Taewoo Chung</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer and Director</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Taewoo Chung</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>(Principal Financial and Accounting Officer)</I></FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 31, 2025</FONT></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD>&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">
      Aihua Wang</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR>
      <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aihua Wang</FONT></TD>
      <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Technology Officer and Director</FONT></TD>
      <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
      <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 31, 2025</FONT></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD>&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alfred &ldquo;Trey&rdquo; Hickey</FONT></FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alfred &ldquo;Trey&rdquo; Hickey</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 31, 2025</FONT></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD>&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anders Karlsson</FONT></FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anders Karlsson</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 31, 2025</FONT></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD>&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hiroyuki Tahara</FONT></FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hiroyuki Tahara</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 31, 2025</FONT></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD>&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June Han</FONT></FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June Han</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January 31, 2025</FONT></TD></TR>
    </TABLE>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>
  
  <!-- Field: Page; Sequence: 5; Value: 1 -->
      <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
      <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
      <!-- Field: /Page -->
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE OF AUTHORIZED U.S.&nbsp;REPRESENTATIVE
  OF THE REGISTRANT</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">Pursuant to the requirements
  of the Securities Act&nbsp;of&nbsp;1933, as amended, the undersigned, the duly authorized representative in the United&nbsp;States of
  TOYO Co., Ltd, has signed this registration statement on Form S-8 in the City of Newark, State of Delaware, on January 31, 2025.</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR STYLE="vertical-align: bottom">
      <TD>&nbsp;</TD>
      <TD COLSPAN="3" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Authorized U.S.&nbsp;Representative</B></FONT></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD>&nbsp;</TD>
      <TD COLSPAN="3" STYLE="text-align: justify">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
      <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif">Donald J.&nbsp;Puglisi</FONT></FONT></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD STYLE="width: 60%">&nbsp;</TD>
      <TD STYLE="width: 3%">&nbsp;</TD>
      <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT>&nbsp;</TD>
      <TD STYLE="width: 32%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Donald J.&nbsp;Puglisi</FONT></TD></TR>
    <TR STYLE="vertical-align: bottom">
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Managing&nbsp;Director&nbsp;of&nbsp;Puglisi&nbsp;&amp;&nbsp;Associates</FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
    <TR>
      <TD STYLE="background-color: White; vertical-align: top; width: 9%; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit No.</B></FONT></TD>
      <TD STYLE="background-color: White; white-space: nowrap; vertical-align: top; width: 1%">&nbsp;</TD>
      <TD STYLE="background-color: White; vertical-align: bottom; width: 90%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1985273/000121390024105743/ea021276303ex3-1_toyo.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amended
      and Restated Memorandum and Articles of Association of the Registrant, adopted by a special resolution passed on March 1, 2024 and
      effective on July 2, 2024 <FONT>(incorporated by reference to Exhibit 3.1 to the Registration Statement on Form&nbsp;F-1 (File No.
      333-283617) filed on December 5, 2024)</FONT></FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1985273/000121390024020988/ff42024ex4-1_toyocoltd.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen
      Ordinary Share Certificate (incorporated by reference to Exhibit 4.1 to the Registrant&rsquo;s Registration Statement on Form F-4
      (File No. 333-277779), as amended, initially filed on March 8, 2024).</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1*</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea022903901ex5-1_toyoco.htm">Opinion of Harney Westwood &amp; Riegels, Cayman Islands counsel to the Registrant, regarding the legality of the ordinary shares being registered</A></FONT></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1985273/000121390024059842/ea020900101ex4-5_toyo.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2024
      Share Incentive Plan, effective on July 1, 2024 (incorporated herein by reference to Exhibit 4.5 to the Registrant&rsquo;s Annual
      Report on Form 20-F  filed on July 8, 2024)</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1*</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea022903901ex5-1_toyoco.htm">Consent of Harney Westwood &amp; Riegels (included in Exhibit 5.1)</A></FONT></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2*</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD><A HREF="ea022903901ex23-2_toyoco.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Marcum
  Asia CPAs LLP, independent public accountant to the Registrant</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.3*</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD STYLE="text-align: justify"><A HREF="ea022903901ex23-3_toyoco.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Marcum Asia CPAs LLP, independent public accountant to Blue World Acquisition Corporation</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: White">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.1*</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Power of Attorney (included on the signature page hereto)</FONT></A></TD></TR>
    <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">107*</FONT></TD>
      <TD STYLE="white-space: nowrap">&nbsp;</TD>
      <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea022903901ex-fee_toyoco.htm">Filing Fee Table</A></FONT></TD></TR>
    </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
  
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    <TR STYLE="vertical-align: top">
      <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
      <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed herewith</FONT></TD></TR>
    </TABLE>
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text: As filed with the U.S. Securities and Exchange
  Commission on January 31, 2025
  Registration No. 333-[__]
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM S-8
  REGISTRATION STATEMENT
  UNDER
  THE SECURITIES ACT OF 1933
  TOYO Co., Ltd
  (Exact Name of Registrant as Specified in its Charter)
  Cayman Islands
  Not applicable
  (State or Other Jurisdiction of
  Incorporation or Organization)
  (I.R.S. Employer
  Identification Number)
  Tennoz First Tower F5, 2-2-4
  Higashi-shinagawa, Shinagawa-ku
  Tokyo, Japan 140-0002
  (Address of Principal Executive Offices) (Zip Code)
  2024 Share Incentive Plan
  (Full title of the plan)
  Puglisi & Associates
  850 Library Avenue, Suite 204
  Newark, Delaware 19711
  (Name, address, including zip code, and telephone number, including area code, of agent for service)
  Copies to:
  Arila Zhou, Esq.
  Robinson & Cole LLP
  Chrysler East Building
  666 Third Avenue, 20
  th
  Floor
  New York, NY 10017
  Tel: 212-451-2908
  Indicate by check mark whether the registrant
  is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.
  See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company,"
  and "emerging growth company" in Rule 12b-2 of the Exchange Act.
  Large accelerated filer ☐
  Accelerated filer ☐
  Non-accelerated filer ☒
  Smaller reporting company ☐
  Emerging growth company ☒
  If an emerging growth company, indicate by check
  mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
  standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
  Part I
  INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
  Item 1. Plan Information.*
  Item 2. Registrant Information and Employee Plan Annual Information.*
  *
  The documents containing the information specified in Part I of Form S-8 will be sent or given to participants as specified by Rule 428(b)(1) under the Securities Act of 1933, as amended (the "Securities Act"). In accordance with the rules and regulations of the Securities and Exchange Commission (the "Commission") and the instructions to Form S-8, such documents are not being filed with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act.
  1
  Part II
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  Item 3. Incorporation of Documents by Reference.
  The following documents previously
  filed or furnished by the Registrant with the SEC are incorporated herein by reference in this Registration Statement:
  (a)
  The Registrant's
  prospectus filed with the Commission on December 26, 2024 pursuant to Rule
  424(b)
  under the Securities Act, relating to the registration statement
  on
  Form F-1
  , as amended (File No. 333-283617);
  (b)
  All other reports filed by the Registrant pursuant to Section 13(a) or 15(d) of the Exchange Act; and
  (c)
  The description of the
      Registrant's Ordinary Shares incorporated by reference in the Registrant's registration statement on
  Form 8-A
  (File No. 001-42153) filed with the Commission on June 28, 2024, including
      any amendment and report subsequently filed for the purpose of updating that description; and
  All documents filed by the
  Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act subsequent to the date hereof, prior to the filing of a
  post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining
  unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing
  of such documents; provided, however, that, unless expressly incorporated into this registration statement, documents or information deemed
  to have been furnished and not filed in accordance with SEC rules shall not be deemed incorporated by reference into this Registration
  Statement. Any statement contained herein or in a document, all or a portion of which is incorporated or deemed to be incorporated by
  reference herein, shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement
  contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies
  or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or amended, to constitute
  a part of this Registration Statement.
  Item 4. Description of Securities.
  Not applicable.
  Item 5. Interests of Named Experts and Counsel.
  Not applicable.
  Item 6. Indemnification of Directors and Officers.
  The laws of the Cayman Islands
  do not limit the extent to which a company's memorandum and articles of association may provide for indemnification of officers
  and directors, except to the extent any such provision may be held by the Islands courts to be contrary to public policy, such as to provide
  indemnification against willful default, willful neglect, civil fraud or the consequences of committing a crime. The Registrant's
  Amended and Restated Memorandum and Articles of Association provides that the Registrant shall indemnify each existing or former secretary,
  director (including alternate director), and other officer of the Registrant (including an investment adviser or an administrator or liquidator)
  and their personal representatives against (a) all actions, proceedings, costs, charges, expenses, losses, damages or liabilities incurred
  or sustained by the existing or former secretary or officer in or about the conduct of the Registrant's business or affairs or in
  the execution or discharge of the existing or former secretary's or officer's duties, powers, authorities or discretions;
  and (b) without limitation to (a), all costs, expenses, losses or liabilities incurred by the existing or former secretary or officer
  in defending (whether successfully or otherwise) any civil, criminal, administrative or investigative (whether threatened, pending or
  completed) proceedings concerning the Registrant or its affairs in any court or tribunal, whether in the Cayman Islands or elsewhere.
  No such existing or former secretary or officer, however, shall be indemnified in respect of any matter arising out of his own actual
  fraud, willful default or willful neglect.
  Pursuant to the indemnification
  agreement, the form of which was filed as Exhibit 10.1 to the Registrant's registration statement on Form F-4, as amended (File
  No. 333-277779), the Registrant agreed to indemnify each such person and hold him/her harmless against expenses, judgments, fines and
  amounts payable under settlement agreements in connection with any threatened, pending or completed action, suit or proceeding to which
  he/her has been made a party or in which he became involved by reason of the fact that he is or was the Registrant's director or
  officer. Except with respect to expenses to be reimbursed by the Registrant in the event that the indemnified person has been successful
  on the merits or otherwise in defense of the action, suit or proceeding, the Registrant obligations under the indemnification agreements
  are subject to certain customary restrictions and exceptions.
  II-
  1
  Insofar as indemnification
  for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing
  provisions, the Registrant has been informed that in the opinion of the SEC such indemnification is against public policy as expressed
  in the Securities Act and is theretofore unenforceable.
  Item 7. Exemption from Registration Claimed.
  Not applicable.
  Item 8. Exhibits.
  See Exhibit Index.
  Item 9. Undertakings.
  (a)
  The undersigned Registrant hereby undertakes:
  (1)
  To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
  (i)
  to include any prospectus required by Section 10(a)(3) of the Securities Act;
  (ii)
  to reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement; and
  (iii)
  to include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;
  provided, however
  , that paragraphs (a)(1)(i)
  and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
  in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that
  are incorporated by reference in this Registration Statement;
  (2)
  That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
  (3)
  To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
  (b)
  The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
  (c)
  Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that, in the opinion of the Commission, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
  II-
  2
  SIGNATURES
  Pursuant to the requirements
  of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the
  requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
  duly authorized, in Japan, on 31st day of January, 2025
  TOYO Co., Ltd
  By:
  /s/ Junsei Ryu
  Name:
  Junsei Ryu
  Title:
  Chief Executive Officer
  (Principal Executive Officer)
  POWER OF ATTORNEY
  KNOW
  ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Junsei Ryu as his or her true and
  lawful attorney-in-fact, with the power of substitution, for and in such person's name, place, and stead, in any and all capacities,
  to sign any and all amendments (including post-effective amendments) to this registration statement, and to file the same, with all exhibits
  thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact
  full power and authority to do and perform each and every act and thing requisite and necessary to be done as fully to all intents and
  purposes as he or she might or could do in person, hereby ratifying and confirming all that each said attorney-in-fact may lawfully do
  or cause to be done by virtue hereof.
  Pursuant to the requirements
  of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities
  and on the dates indicated:
  Signature
  Title
  Date
  /s/ Junsei Ryu
  Chief Executive Officer, Director and
  Junsei Ryu
  Chairman of the Board
  (Principal Executive Officer)
  January 31, 2025
  /s/
  Taewoo Chung
  Chief Financial Officer and Director
  Taewoo Chung
  (Principal Financial and Accounting Officer)
  January 31, 2025
  /s/
  Aihua Wang
  Aihua Wang
  Chief Technology Officer and Director
  January 31, 2025
  /s/
  Alfred "Trey" Hickey
  Alfred "Trey" Hickey
  Director
  January 31, 2025
  /s/
  Anders Karlsson
  Anders Karlsson
  Director
  January 31, 2025
  /s/
  Hiroyuki Tahara
  Hiroyuki Tahara
  Director
  January 31, 2025
  /s/
  June Han
  June Han
  Director
  January 31, 2025
  II-
  3
  SIGNATURE OF AUTHORIZED U.S. REPRESENTATIVE
  OF THE REGISTRANT
  Pursuant to the requirements
  of the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of
  TOYO Co., Ltd, has signed this registration statement on Form S-8 in the City of Newark, State of Delaware, on January 31, 2025.
  Authorized U.S. Representative
  By:
  /s/
  Donald J. Puglisi
  Name:
  Donald J. Puglisi
  Title:
  Managing Director of Puglisi & Associates
  II-
  4
  EXHIBIT INDEX
  Exhibit No.
  Description
  4.1
  Amended
      and Restated Memorandum and Articles of Association of the Registrant, adopted by a special resolution passed on March 1, 2024 and
      effective on July 2, 2024
  (incorporated by reference to Exhibit 3.1 to the Registration Statement on Form F-1 (File No.
      333-283617) filed on December 5, 2024)
  4.2
  Specimen
      Ordinary Share Certificate (incorporated by reference to Exhibit 4.1 to the Registrant's Registration Statement on Form F-4
      (File No. 333-277779), as amended, initially filed on March 8, 2024).
  5.1*
  Opinion of Harney Westwood & Riegels, Cayman Islands counsel to the Registrant, regarding the legality of the ordinary shares being registered
  10.1
  2024
      Share Incentive Plan, effective on July 1, 2024 (incorporated herein by reference to Exhibit 4.5 to the Registrant's Annual
      Report on Form 20-F  filed on July 8, 2024)
  23.1*
  Consent of Harney Westwood & Riegels (included in Exhibit 5.1)
  23.2*
  Consent of Marcum
  Asia CPAs LLP, independent public accountant to the Registrant
  23.3*
  Consent of Marcum Asia CPAs LLP, independent public accountant to Blue World Acquisition Corporation
  24.1*
  Power of Attorney (included on the signature page hereto)
  107*
  Filing Fee Table
  *
  Filed herewith
  II-
  5