PENCO was a Philly music company that imported various electric and acoustic guitars
and basses from Japan in the 1970's. They were not expensive, but the quality is very high and the few I have owned were great sounding instruments. I still have an acoustic 12 string that has severe damage and sounds clear as a bell...It's one of my someday projects to restore it. Not worth much to collectors, but they are hard to beat as players guitars...I think there were made by Aria...
US Peavey Club member #68.