Mitsubishi Pencil plans to sell its pen with Linc Pens under the name ‘Uni’ brand

 Japan’s largest writing instrument maker which has 13% stakes in India partner Linc Pens has decided to raise it.Mitsubishi Pencil Co's global president Eiichiro Suhara said that the company is keen to explore the Indian market as the market in Europe and US is slowing down.

 

"We have lots of money and are extremely keen to increase our holding in Linc," Suhara said. "But we would not like to take the driver's seat with majority holding since the local partner will have much better knowledge of the market than us," he added. Suhara was in the city on Tuesday in his second visit to the country. Linc Pens MD Deepak Jalan, who along with his family holds 60 per cent in the company, said that Mistibushi ‘s decision of raising the stakes would depend on whether their expectations are met in India or not."But we will maintain our majority holding," he said.

 Linc said that being one of the top three writing instrument company in India Mitsubishi has planned to sell its pen with them under the ‘Uni’ brand. The local production of Mitsubishi pens will start in 6-12 months.Suhara said Mitsubishi will initially use the Linc Pen facilities for production but may later set up its own factory. "Local production will help us to lower pen prices since there are currently around 15 per cent duties on import," he says.