Japan still has a wealth of products that can be sold to the world, and many are still waiting to be discovered, according to Nobuyuki Ota, CEO of the newly founded Cool Japan Fund Inc.

The fund, set up in November under a public-private Cool Japan initiative to promote home-grown products overseas, will closely network with regional governments, municipalities and banks to pursue projects that show promise, Ota said in a recent interview.

If the fund succeeds, some of the nation's battered regional economies may get an unexpected lift.