I believe Japanese Eneloops are actually made by Fujitsu - they own the tech, Panasonic only own the Eneloop brand name. Fujitsu also sell their own branded LSD NiMH cells, which are somewhat cheaper than Eneloops, at least in the UK. I have old Eneloops, made in Japan, and newer Fujitsu cells. I refuse to even touch the made in China stuff.