TOKYO -- Japan's Mitsubishi Pencil on Thursday said it will set up a joint venture in India in January to tap growing demand for writing tools in the country.
Mitsubishi Pencil will take a 51% stake in the company -- called Unilinc -- while local partner Linc will take the remaining 49%. The venture will build a new factory in India as early as 2025, and will be responsible for distributing products locally.
