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Japanese Stationery Maker Mitsubishi Pencil Half-Year Profit Climbs to Record $48.9 Mil


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Japanese Stationery Maker Mitsubishi Pencil Half-Year Profit Climbs to Record $48.9 Mil
Mitsubishi Pencil - Jetstream
 

Mitsubishi Pencil saw record profit for January-June
Date: Jul 19, 2014
Source: Nikkei

TOKYO — Mitsubishi Pencil apparently booked a 5 billion yen ($48.9 million) operating profit in the January-June half, a record for the six-month period, on strong sales of its Jetstream pens.

Operating profit increased 20% on the year and surpassed the predicted figure of 4.4 billion yen. Sales likely rose 7% to 30 billion yen, topping the forecast of 29.5 billion yen.

The company’s mainstay Jetstream pen enjoyed increased sales both in Japan and abroad. By strengthening its production capacity, the company pushed up exports of the multicolored pens which were not easily available overseas.

Corporate orders of pens with company logos also recovered. The spread of tablet devices boosted demand for a Jetstream variety with a built-in stylus as well.

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About Mitsubishi Pencil Company

Mitsubishi Pencil Company distributes products in over 100 countries through subsidiaries, such as Mitsubishi Pencil Company UK. Sanford distributes uni-ball in the United States and Canada, Faber-Castell does so for Germany, and Linc Pen and Plastics Limited (LPPL) in India. Despite its naming and the near identical logomarks, Mitsubishi Pencil Company is unrelated to the Mitsubishi Group, and has never been a part of their zaibatsu.


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