TOKYO, Jun 18 (Pulse News Wire) – Abalance Corporation (3856.T) received notice that some solar products exported to the United States by its subsidiary TOYO SOLAR MANUFACTURING ONE MEMBER PLC are being detained by the U.S. Customs and Border Protection (CBP) due to ongoing reviews under the Uyghur Forced Labor Prevention Act.
TOYO’s subsidiaries TOYO AMERICA LLC and TOYO ENERGY LLC received detention notices on May 27 and May 28, respectively. Abalance disclosed this information on June 3 after TOYO filed the issue with the SEC on June 17. The company believes the impact on consolidated operating results will be minor but acknowledges potential risks moving forward. It has engaged external legal counsel specializing in CBP matters to cooperate fully with the review process.
Should the detained goods fail to clear customs, alternative sales strategies outside the U.S. would need to be considered. Additionally, Abalance asserts that none of its materials originate from Xinjiang and maintains strict procurement policies and quality control measures. The company will continue to monitor developments closely and disclose further impacts if necessary.
🟢 Confidence: High AI-translated content.