Japan Probes Pickens Purchase: Japan’s Finance Ministry...
Japan Probes Pickens Purchase: Japan’s Finance Ministry is investigating a possible new technical irregularity in the purchase of 32.4 million shares of a Japanese auto lighting company by U.S. corporate takeover specialist T. Boone Pickens Jr., according to news reports. The reports said the ministry had discovered that the Azabu Auto Group, from which Pickens bought his 20.2% share in Koito Manufacturing Co., originally did not report to authorities that it had bought more than a 10% interest in the lighting firm. Failure to make such a report could be a violation of Japan’s Securities and Exchange Law.
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