I owned both a Les Paul Custom and a MIJ Epiphone Elitist, and the Elitist was every bit as good.

I'm not into Les Pauls any longer but love the 80's Model Series Charvels, which were all MIJ. Great guitars!

Many American manufacturers used to build their midrange guitar lines in Japan and keep the higher end stuff in the US. The Japanese brands build their high-end lines in Japan, and those can be as good as American guitars. Examples are ESP which you mentioned as well as Ibanez and Caparison.

Nowadays a lot of the midrange guitar manufacturing has moved to Mexico.

On those caparison I played their model it was if I remember humbuckers and tremolo great guitar it was at a open jam pre COVID yes EPI Japan is awesome.

is a term used by some collectors. Has been big with some for a few years now.

Currently playing two Fujigens (a.k.a. FGN) and probably my all-time favorite was a 1988 Japanese Fender Jazz built under license by Fujigen. Still regret selling that one!

Have you seen their History line of guitars

And if I were to suddenly stumble across a brick of benjamins one day, I'd probably snag one of these - a Sugi.

Looking and typed up fujijen found a history NLS100 from some shop Florida $1100 I think ,I won’t buy it yet I’ve seen same models go for $700 to $800 in Japan and like $150 shipping I’m satisfied with what I have my two favorites are.

Tokai Les Paul reborn a 78 model bought it $250 Germany in army 1985
Greco se 700 strat the early sixties model bought it like $125 off guy in Altoona back in 89

Yet I did buy others over the years the Edwards Elp prototype from late 80’s was as stated I think they were made by craftsman that make the navigators they are excellent handmade guitars . I didn’t buy yet I’m still thinking of offer $700 + shipping always willing negotiate take care.

I am a Fender guitar enthusiast, and I own a 1992 Extrad Stratocaster. This was a series intended to Japanese market only, so I had to find it in the second-hand market.
Here you can find some pictures:
https://www.fuzzfaced.net/extrad-st57-35th-anniversary.html

I have a Greco Se 700 it is my favorite strat.

I joined the Navy and it disappeared. I can see much of the conversation is about electrics but this guitar has a very special place in my memory. Very deep resonating bottom end. If you ever get a chance to play a good one, give yourself a treat and play it.

The low E wants to ring out so it needs to be deadened.

Another superb guitar line by Matsumoku.