It depends on the specific Leupold product you are referring to.
Leupold is an American company that has been in business since 1907 and is headquartered in Oregon. While most of their products are designed and assembled in the United States, some of their components and materials may be sourced from other countries, including China.
However, Leupold does have a specific line of products called the “Mark 5HD” which is manufactured in Japan. It’s best to check the specific product’s label or packaging to determine its country of origin or contact Leupold’s customer support for more information.