Koito Snubs Pickens: Koito Manufacturing Company rejected...

Koito Snubs Pickens: Koito Manufacturing Company rejected a request by Texas oilman and investor T. Boone Pickens Jr. to send a representative to the Japanese auto parts maker’s board meeting to plead for an increase in its dividend. “The board meeting is not open to our shareholders, regardless of their nationality, either Japanese or foreign,” a Koito official said. Pickens, whose 26% stake is the largest block of shares in Koito, has accused Koito of neglecting its shareholders and refusing to grant him a seat on the board simply because he is a foreigner.