I think what you may have is a figurine made in the post war japan, it was required to be marked, 50% of the product was marked "occupied japan" .
This is assuming it was made in late 40's to the 50's. That would explain the cherubs, during this time this stuff was made for the Americans and allied countries. So they produced many western theme's and motif. Just starting to get some knowledge of porcelain, so I'm not expert, but that is the first thing that came to my mind. If this is the case you have a moderate valued item, and very collectable.