The translated HTML content, with standard decoding applied, is: Why aren’t output companies being returned to the domestic economy even though they’re making profits

Large export companies such as Toyota see substantial gains when their overseas sales are converted to yen due to the weaker yen, and the tourism industry also benefits local economies as foreign visitors increase.

However,corporate internal reserves have continued to accumulate to a record high over 637 trillion yenand there are many indications that the spillover to capital investment and wage increases is insufficient. The government is pursuing tax incentives to promote wage hikes and domestic investment, but the incentive for companies to favor internal reserves over dividends and cash remains difficult to change.

If you tell people to buy stocks, that would be one thing, but the question at its core is how to create a virtuous cycle of corporate behavior and policy. The structure where export-oriented companies profit but households and small businesses do not reap sufficient benefits is a factor that prolongs the pain of the yen depreciation.