The economist picked by struggling Panasonic Corp. to become its first female director said Japan's electronics makers need drastic changes to align their business models with those of companies including General Electric Co. and Siemens AG.
Manufacturers should focus more on growing demand for innovation in life sciences, agriculture and energy saving, Hiroko Ota, a professor at the National Graduate Institute for Policy Studies in Tokyo, said in an interview.
"What people want is a solution rather than an individual technology," said Ota, 59, who served as the minister for economic and fiscal policy from 2006 to 2008. "It's an opportunity for Japanese manufacturers."