David Cronan & JC Jones -
As I posted back several pages, I believe Miura (and possiblity one or two other Japanese companies) have made forged iron clubheads that have been sold to American golf club companies to be assembled in the U.S. and sold under brands such as MacGregor, TaylorMade, Orlimar, etc. There is nothing unusual or unethical about that.
This is not uncommon in the golf club business. Most golf club companies buy component parts (clubheads, shafts & grips) that are made by another manufacturer. I think PING has a factory to cast their own clubheads, but I doubt any other U.S. golf club company does.
DT