October 7, 2024

Junsei Ryu
Chief Executive Officer
TOYO Co., Ltd
Tennoz First Tower F5, 2-2-4
Higashi-shinagawa, Shinagawa-ku
Tokyo, Japan 140-0002

       Re: TOYO Co., Ltd
           Draft Registration Statement on Form F-1
           Submitted October 3, 2024
           CIK No. 0001985273
Dear Junsei Ryu:

     We have reviewed your draft registration statement and have the following
comment(s).

       Please respond to this letter by providing the requested information and
either
submitting an amended draft registration statement or publicly filing your
registration
statement on EDGAR. If you do not believe a comment applies to your facts and
circumstances or do not believe an amendment is appropriate, please tell us why
in your
response.

      After reviewing the information you provide in response to this letter
and your
amended draft registration statement or filed registration statement, we may
have additional
comments.

Draft Registration Statement on Form F-1 filed October 3, 2024
General

1.     Please revise your registration statement to include audited financial
statements for
       Blue World Acquisition Corporation for the period ended June 30, 2024 or
tell us why
       you are not required to do so. Refer to Rule 15-01(e) of Regulation S-X.
Plan of Distribution, page 115

2.     We note your disclosure on page 116 that your selling securityholders
may sell their
       securities in one or more underwritten offerings on a firm commitment or
best efforts
       basis. Please confirm your understanding that the retention by a selling
 October 7, 2024
Page 2

       securityholder of an underwriter would constitute a material change to
your plan of
       distribution requiring a post-effective amendment. In addition, please
revise to
       provide the undertakings required by Item 512(a) of Regulation S-K
       Please contact Bradley Ecker at 202-551-4985 or Erin Purnell at
202-551-3454 with
any questions.



                                                           Sincerely,

                                                           Division of
Corporation Finance
                                                           Office of
Manufacturing