Pickens Buys Japanese Shares: Corporate raider T....

Pickens Buys Japanese Shares: Corporate raider T. Boone Pickens Jr. has become the largest shareholder of Koito Manufacturing Co., a leading auto parts supplier closely affiliated with Toyota Motor Corp., securities industry sources said in Tokyo. It’s thought to be the first time a U.S. raider has made a major investment in a Japanese-listed company, sources said. Pickens appears to have purchased 20% of the outstanding common shares of Koito from Azabu Jidosha, a prominent real estate speculator, the sources said. The purchase made Toyota, with a 19% interest, the firm’s second-largest shareholder, they said. Koito’s share price has been rising in recent months, apparently because of Pickens’ purchases, sources said.