They are definitely legit. They occupy the equivalent of the Squier Classic Vibe / Fender Mexico part of the Fender family. Not much on the P bass side of things, but if you are a J guy, then you have a lot of choices: the basic passive J bass (which can do series wiring if you pull the tone knob) in 33", 34", 35" scale, 4 or 5 string, some one off 24 fretted 4 strings, some more exotic limited edition stuff (mango as body wood, active J without pick guard, fancy top, etc)
*to complete the fender analogy
Bacchus Universe (oem in China), is similar position as lower end squiers
Bacchus' Global (Philippines in their own local factory) as mentioned above
Bacchus's Japanese lines cover the equivalent of the American specials, American Standards, and some very fancy one off stuff (cool colors, fancy top woods, etc)
Momose brand is their Fender AVRI
STR is the coffee table / boutique brand
* if you are a p guy, need to check out the cheapest MIC line or the Momose "AVRI" line. Recently they are doing more of the 24 fret-j bass with humbuckers, if that's your thing, in the Philippines and Japanese line