Here's some info on "Tokusatsu" that August Ragone posted on th GK forums not too long ago. It really does clear the confusion a lot of people have on the subject.
QUOTE(August Ragone)
...the word "Tokusatsu" was coined at Toho during the 1950s, which was an abbreviation of "Tokugi Satsuei" or "Special Photography." Because of Toho's pioneer filmmaker, Eiji Tsuburaya, a whole industry was born -- "Tokusatsu" or "Special Visual Effects Photography."
"Tokusatsu" has come, in recent history, to represent all things live-action, containing heavy special visual effects techniques, so there are some sub-categories, such as "Tokusatsu Heroes." When one is referring to Toei's hero shows, they are usually designated "Toei Tokusatsu Heroes," Toho's monster movies are usually referred to as "Toho Kaiju Eiga" (Toho Monster Movies), but the blanket is "Toho Tokusatsu Eiga" (Toho Special Visual Effects Films), which covers everything from Disaster Films to Monster Movies... and so on.
For our purposes, on GK, when we talk about Japanese Superheroes, we are talking about "Tokusatsu Heroes" in general... "Toei Tokusatsu Heroes"... "P-Productions Tokusatsu Heroes"... etc.