I don't care what number is on your airbox, you have a K model frame (K1, actually if it is truly a 1975 model) with standard 022A carbs. 022A carbs have #100 mains and #38 slows from Honda. If you have a #68 or a #98 main, then that explains why it is running lean. Only a true F model with its more restrictive muffler needs that #98 jet size.
If you are using a stock, clean, air filter, then put the needle at the 4th groove from the top, Use #100 mains, sync up the carbs, and go enjoy the ride.
Is this a US Model bike? Or, one of those European ones with that snorkel/air restrictor thingy over the top of the air filter?