Japan Earthquake and Tsunami
The 2011 Tōhoku earthquake and tsunami (東北地方太平洋沖地震 Tōhoku Chihō Taiheiyō-oki Jishin?, literally "Tōhoku region Pacific Ocean offshore earthquake" was a 9.0-magnitude undersea megathrust earthquake off the coast of Japan that occurred at 14:46 JST (05:46 UTC) on Friday, 11 March, 2011. The epicenter was approximately 72 kilometers (45 mi) east of the Oshika Peninsula of Tōhoku, with the hypocenter at an underwater depth of approximately 32 km (19.9 mi).
Estimates of the Tōhoku earthquake's magnitude make it the most powerful known earthquake to have hit Japan, and one of the five most powerful earthquakes in the world overall since modern record-keeping began in 1900. Japanese Prime Minister Naoto Kan said, "In the 65 years after the end of World War II, this is the toughest and the most difficult crisis for Japan." The earthquake moved Honshu 2.4 m (7.9 ft) east and shifted the Earth on its axis by almost 10 cm (3.9 in) Early estimates placed insured losses from the earthquake alone at US$14.5 to $34.6 billion. The Bank of Japan offered ¥15 trillion (US$183 billion) to the banking system on 14 March in an effort to normalize market conditions. On 21 March, the World Bank estimated damage between US$122 billion and $235 billion. Japan's government said the cost of the earthquake and tsunami that devastated the northeast could reach $309 billion, making it the world's most expensive natural disaster on record.