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That is the Curb Idle adjustment in keihin speak, aka idle speed adjuster.
The idle mixture adjustment is located on the bottom of the carb on the flange side. It will likely be capped with a plastic plug and the bowl screws will be tamper proof as well. It is possible to unseal and adjust the carb though, as many people have done so.
It's a good idea to do so as most of the stock jetting is very lean.
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