I recently traded in my 1979 Yamaha dreadnought. (FG335) for a Yamaha LS6. The LS6 is an absolute beauty; small bodied (roughly equivalent to a 000 size) solid englemann spruce top, solid Indian rosewood back and sides, comfortable neck, very nice inlays and binding, a nitro high-gloss finish, and, most importantly, beautiful tone. It's got a lovely balance of brightness and richness, without the dreadnought boom of my old FG. It cost just GDP 369, minus the trade-in for the FG.

For more information on the Yamaha L-series, check this link:
http://www.yamaha.co.jp/english/product/guitar/aguitar/fabrication.html

Alternatively, I could have paid GDP 750 plus for a Martin 000M, with laminate (a.k.a. plywood) back and sides and cheap matt finish (matt finishes do not age well), but why would I want to do that, if not solely for the feel-good factor of owning A MARTIN? I do like the mid to higher-end Martins, but I think the entry level models are selling the name more than the guitar, and in Europe they are overpriced, given current exchange rates.

On a more general note, I would characterise terminology like 'Jap' and 'sushi-boards' as zenophobic and borderline racist. Language like that tells us more about the user than about his/her opinions.