P. M. BRIEFING : Pickens to Koito: Meet Deputy

Texas oilman and investor T. Boone Pickens has asked Koito Manufacturing to allow his representative to attend the Japanese auto parts maker’s board meeting as an observer, a Koito spokesman said today.

Pickens, with a 26% stake through his privately held investment firm Boone Co., holds the largest block of shares in Koito but has been denied three seats on the board.

In a statement sent to Koito, Pickens said the representative will make a statement on Boone Co.’s repeated request to Koito to raise its interim dividend to 5 cents per share from 3 cents at the meeting to be held Nov. 21, the spokesman said.

“But Koito has not decided whether or not it will accept the observer because the company received the request just yesterday,” the Koito spokesman said.