This one is Japanese. There is a later version, usually case colored, that was done in Belgium, by Lebeau. People ask a lot more money for them, but, I don't think they are a lot more gun:

http://www.gunsinternational.com/guns-fo...un_id=100597051

When I was in France, I handled two, used, Japanese Browning sidelocks, that were fitted with sling swivels. I don't recall if they had the "Made in Japan" line on the barrel, but, every one I've seen stateside, does.

Best,
Ted