What is "Less Sodium Soy Sauce"?

I have here a bottle of Kikkoman "Less Sodium Soy Sauce". According to the label, it contains 37% less sodium than regular soy sauce (575 mg per 15 ml serving, versus 920 mg). How is this stuff made, and how will it compare to regular soy sauce in flavor?

An optimist would hope that it's made just like regular soy sauce, but less salt is added, so that it would still have the same soy/umami flavor but be less salty.

A pessimist would suspect that they just take 1 part regular soy sauce and dilute with 0.58 parts of water.

What is the truth?

These questions are related, but don't answer my question:

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  What are the differences between types of soy sauce?

  
  


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  Less salty sauce based on soy