Pickens Challenges Toyota: Texas oilman T. Boone...

Pickens Challenges Toyota: Texas oilman T. Boone Pickens, who has been shut out of a Japanese auto-parts firm’s decision-making process despite being its largest stockholder, said he is switching tactics and will wage his fight against Toyota Motor Corp., which he said is the smaller company’s real master. “I don’t think anybody is going to argue with me that Toyota is controlling Koito (Manufacturing Co., the auto-parts maker),” Pickens said in a telephone interview from his office in Dallas. “We might as well go to the top of the organization.” Toyota, Japan’s largest auto maker, owns 19% of Koito, the country’s largest auto-parts manufacturer. Pickens owns 26%, the largest of any single shareholder, but has been denied a seat on the board. Toyota refused to comment on Pickens’ latest charges.