An object of pride for Japanese consumers during the 2000s was the so-called Kameyama flat-screen television set manufactured by Sharp. Named after the factory in Mie Prefecture where it was assembled, the LCD-TV came with a sticker attesting to its provenance, and many people who bought the model never removed it. The brand was so iconic as a symbol of Japanese high-tech superiority that it was referred to it as "sekai no Kameyama," or "the world-famous Kameyama."

Except that it wasn't. As Atsushi Osanai, an associate professor of management strategy at Waseda University and former Sony employee, pointed out during a recent TBS Radio discussion of Sharp's current situation, the Kameyama TV only enjoyed popularity in Japan. And even while the plant was pumping out product, it was seriously in debt due to competition from other TV manufacturers, including overseas home electronics companies. Sekai no Kameyama was nothing more than a comforting myth.

The blinkered world view that gave rise to the myth is at the heart of Japan's reluctance to let Sharp be sold to a foreign company, namely Hon Hai Precision Industry Co. of Taiwan. Osanai says this reluctance is fed by media and government entities that despair over the loss of industry know-how, which is considered a precious national resource. The anxiety comes from a deep feeling that denies the ascendance of Taiwan, China and South Korea in realms where Japan once reigned. Domestic media never seriously discuss the fact that companies such as Samsung and Haier now dominate the global home electronics field. By the same token, they don't even mention it when K-pop bands continually sell out Japan's domed stadiums.