Here's a Wiki article on the differences:
"Made in Japan" and "Crafted in Japan"
"MADE IN JAPAN serial number
Crafted in Japan serial number
"Made in Japan" = FujiGen Gakki
"Crafted in Japan" = Others (Tōkai Gakki, Dyna Gakki)
According to a Fender representative, it was stipulated in the Fender Japan contract that if there was a change of manufacturer from FujiGen Gakki to another guitar factory, the production inscription in the guitar would be changed from "Made in Japan" (MIJ) to "Crafted in Japan" (CIJ). Most of the Japanese-made Fenders up until 1996/1997 were MIJ Fenders.
The first CIJ Fenders started around 1992, when Dyna Gakki took over some of the production requirements of Fender Japan. This resulted in the "Crafted in Japan" inscription appearing on some Japanese Fenders during this period. Dyna took over because FujiGen was expanding its own factory operations.
CIJ was used entirely on Japanese Fenders produced from 1996/1997 until 2015, after Tōkai and Dyna took over the Fender Japan manufacturing contract. The Fender Squier range was also brought in line with the Japanese Fenders at around the same time (1996/1997), with the CIJ inscription being used." Wiki
Hopefully Skipclone will chime in and let us know more about quality, price, history, etc., (if any) as he lives in Japan and may have some hands-on knowledge for us?