TOKYO – The consolidation of Japan’s electronics industry is a must to stay viable, says former Sony Corp. chairman Nobuyuki Idei.
 
One factor is the increasing value of the Japanese yen against other Asian currencies, which has made its exports less competitive. The yen, for example, increased 73% against the South Korean won since the start of 2008.
 
In interviews reported by several publications, Idei condemned the lack of action of Prime Minister Taro Aso and the Bank of Japan, and said he worries the scarcity of credit might lead to lingering harm for the country’s industries that depend highly on capital.
 
Idei headed Sony from 1999 to 2005.