Billions lost, as quake-hit regions pick up the pieces

2011-03-14 07:39

Tokyo – Economic losses in the regions of Japan that were hit by a massive earthquake will reach around 14 trillion yen to ¥15 trillion (R1.2 trillion) based on information available today, Credit Suisse said in a research note.

Credit Suisse chief economist Hiromichi Shirakawa said economic losses from the quake-hit region of northeastern Japan would likely be “slightly less than 40%” of the ¥40 trillion in total economic losses seen from the Kobe earthquake in 1995.

Shirakawa said losses from the quake on Friday would likely be smaller due to the lower number of office buildings, commercial facilities and highways in the affected regions.

He also said there had been no reports of big collapses of major manufacturing facilities.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.