I purchased a Bushnell No. 5 competition spotting scope back in 1993 hoping to upgrade years later.
It was made in Japan and also sold as the Kowa TS-1 (Chuck Bordman loved the one he had).

When I had more money to spend I took the No. 5 spotting scope to Wholesale Sports and tested it against every new 60 mm modern spotting scope made today.

I am still using the old Bushnell since no new modern spotting scopes could touch the quality of glass in the old used scope I was using.

The old used spotting scope came from Trace Scope Repairs.

The Bushnell Spacemaster II started production around 1971 and did not have quite as high a quality glass compared to the Bushnell No. 5 spotting scope produced earlier in the 1950s or 1960s.

The older Japanese No. 5 Bushell competition scope is marked on the adjusting knob.

The Bushnell Spacemaster II has a totally different markings and adjusting knob as indicated in picture below.

At the range I compared my No. 5 against a Spacemaster II to verify there is a difference in glass quality.

I have the first generation spotting scope Kowa offered, I believe late 1950's or early 60's? It's as good a scope as anything much newer I've compared it to.
I also have a small compact spotting scope in 20x I take in my backpack when hunting to use as a hand held scope, and it is better than many full sized spotting scopes I've looked through. 
Kowas are really wonderful quality, regardless of when they're made. And their customer support is very good also, regardless of when their scope was made. I just wish they'd kept the same thread size on their eyepieces, so my early 30x could accept a higher powder eyepiece.

I had one just like it 20 years (or more) ago and it was just marked Kowa and it had the bench tripod with it. Now I regret ever letting it get away from me. Sold it to a shooter from South Bend Indiana that used to come to the Etna Green ASSRA match. I did finally replace it with a few years ago with a Unertl 63mm 45 degree eye piece scope with Freeland stand but, I really liked the lens adjustment on the Kowa better than the Unertl.