This article is in essence two stories, but one couldn't have happened without the other, and I'm sorry to say, one of them is not a happy story.
As he passed Lt. Baggett the American raised his pistol and fired four times. The Japanese fighter peeled away. Lt Baggett and Lt Jensen were both captured. At the time they were the first B-24 pilots captured by the Japanese, and were of special interest. Eventually they were released from solitary confinement and put in with the general population of POW's.
Unfortunately there's no other supporting evidence. Even Lt Baggett’s own remarkably slim account when he was official historian for the 9th Bomb Squadron fails to mention the details. Was it just a tale to raise morale while in a POW camp? Did Cpt Kuroe merely pull away in surprise? Or did Lt Baggett make a one million shot? Shots with longer odds have happened before.
Lt Baggett remained a POW until the end of the war. After liberation, instead of returning to his peace time job on Wall Street he decided to stay in the Air Force, and retired a colonel. He died at the age of 85 in San Antonio, Texas in 2006.
full horrific story can be read here. Col. Melton was lost at sea, adrift in the Pacific ocean.
Wikipedia, The Command Post (Jan 26th, 1945), Flymag and St Petersburg Times (Dec 5th, 1943)