I've used both OEM and M1 filter on my FK8 before. I can't tell you if they filter the same or anything. But I can tell you that M1 filter's housing slips with those filter wrench socket and I basically have to use the 3-jaw filter clamping wrench to remove it every oil change, much more annoying to use than OEM ones....
From my understanding the Honda OEM: 5400-PLM-A02 is a filter manufactured for the US market and is manufactured in the USA by FRAM/Honeywell.
The filter I use for my FL5 is the 15400-RTA-003 which is the OEM Honda oil filter manufactured in Japan by MAHLE/Tennex. Some say this filter is a better OEM option mostly because it is made in Japan.
If anyone is interested in purchasing the 15400-RTA-003 filter you can buy them at Boats.net and I believe Black Hawk Japan.