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Economy

Asia's multinationals are hoarding cash like never before

Japan Inc. is no longer the only inveterate cash-stasher in the region

A man walks past an advertisement for currency exchange services in Cairo on Sept. 12.   © Reuters

TOKYO Japan's Toyota Motor has always been known for squirreling away cash. But these days the automaker -- nicknamed "Toyota Bank" for its $143 billion of reserves -- has plenty of company, especially among new Asian multinationals.

Since 2000, the liquid assets of Chinese internet giant Tencent Holdings have swelled by a factor of 12 to $51.8 billion, according to data compiled by Quick-FactSet. China Mobile, the world's largest wireless carrier, has liquid holdings of $90.3 billion.

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