TOKYO, Sept 16 (Reuters) - Financial firms should feel regret for the spread of bankruptcies among smaller firms, Japan's incoming minister in charge of financial markets supervision said on Wednesday.
"Finance has gone too far," Shizuka Kamei, the head of a tiny coalition partner of the incoming Democratic Party, told reporters. "There are many bankruptcies among small and mid-sized companies and financial firms must demonstrate regret for that."
Kamei, a relative newcomer to finance, has sparked caution among investors because of his opposition to market-friendly policies.
Shares of Japanese banks fell on Wednesday after he said he would push for a moratorium on some loan repayments, cutting revenue for fragile lenders.
A 72-year-old veteran politician and former police official, Kamei will also take charge of Japan's massive postal system, which is home to $1.8 trillion in household deposits. He has said that stopping the privatisation of the postal system is a top priority. (Reporting by David Dolan; Editing by Rodney Joyce)