DerekJYou're right, it is. I purchased the Oriolus MK2 in Hong Kong under the impression it was Japanese. The parent company is actually called Raosound.
I noticed that it was also associated with a company named Mini Audio, based in Shenzhen. http://www.mini-audio.com/miniaudio/ProductList.asp?SortID=8
The company that manufactures Oriolus MK2 also manufactures two other brands, Hyla and Azla. While they are Chinese, I think their quality has gotten better over time. That being said and having tried Azla IEMs as well, I find this company's IEMs to have rather painful treble. It's sharp and piercing, to the point that I had to return my Oriolus MK2 after just a day of owning it.