From the glossy gadgets on display at this week’s Ceatec consumer electronics trade show near Tokyo, it would appear Japanese companies are cresting on a wave of innovation and profitability.

But beneath the shiny facade of plasma televisions and Blu-ray disc players, Japan’s once-mighty electronics titans have felt the encroachment of Asian rivals. Toshiba famously invented Nand flash memory chips only for Samsung to trounce it and become the world’s leading producer.