I wonder if an LS built Mitsubishi engine is of similar quality to a Mitsubishi built one? The same question would apply to any of the brands' engines, whether Iseki, Yanmar, Perkins, Cat, etc
Many times when something like an engine is licensed to be built by another party, many of the parts are identical and sourced from the same place, many times the licensing manufaturer. I'd be willing to bet a lot of the parts in the LS built engines come from the Mitsu factory or the same supply chain that Mitsu is using. LS is essentially just assembling them.