Bill is right; the Series 2, Series 3, Series 20 and Series 30 Paramounts came from Taiwan, and later from mainland China. The higher end Series bikes - presumably including the Series 40 - came from National/Panasonic in Japan.
Here's the word from the horse's mouth.
Originally Posted by Richard Schwinn
The "Series" Paramounts mostly came from Japan, but the Series 2, 20, 3 and 30 came from Taiwan (A-Pro) and eventually China by 1992.