There are plenty of myths around these instruments, manufactured in the early 80s in the land of the rising sun.
To get the history done real quick:
There is no catch in the Squier range – they strike us as first class guitars, excellent value for money and worthy of any players consideration, from the beginner to the pro.
Music UK Review, Jan 1984
The V.C. Squier Company started as a “fiddle factory” founded in 1890 in Battlefield, Michigan. But here we’re focussing on the “Squier by Fender” brand, founded in 1982 as a reaction to the strong competition to Japanese guitar brands such as Tōkai, Greco and Fernandes…
Though it was designed to be an inexpensive alternative to the USA models, the craftmanship was astonishing.
So putting all the “Mojo – talk” aside what are we’re looking at here?
The purity, tone and feel. Nothing more, nothing less. This is what made these instruments the sought after classics they are.
Bring up the volume and you’ll get exactly the sound you’re looking for in a P-Bass.
if you’re into the instruments that go by the tag of “JV”, check out the “JV Chronicles” at 21frets.com. They provide a ton if information about what was going on back then and how this gear might enhance your play.