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Reasons beyond demographic factors behind Japan's lost decades?

Comments on Naohiro Yashiro "Is Japan caught in an upper income trap?" 30/03/2016

Although demographic factors are important factors to unleash Japan’s aggregate productivity as a whole, there would be other important factors that are equally important if more so.

For example, Japan seems to have fallen behind in the competition of contemporary technologies such as smart mobile phones, for example. Japan used to be very innovative, but it has lost much of its edge in the past two decades or so, it seems.

It would be important to understand the reasons behind those sort of issues.

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