Aso says Japan firms’ piling up of internal reserves has gone too far

TOKYO (Reuters) – Finance Minister Taro Aso on Friday criticized Japanese companies for piling up their internal reserves too much, and said the government needed to take steps to encourage them to increase spending on wages and business investment.

Aso, speaking to reporters after a cabinet meeting, also brushed aside some media reports that said the United States had strongly demanded talks on a bilateral free trade agreement during an economic dialogue this week.

Aso, who doubles as deputy prime minister, met Vice president Mike Pence for the dialogue in Washington.

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