Both a major buyer and processor of fish, Japan is an important link in the global seafood distribution chain. So the effects of the disaster -- including the ruined ports, roads, fisheries and processing centers -- have taken their toll on the seafood industry worldwide.
A basket case for so long, Japan is actually showing glimmers of economic progress. It's in the right place to offer investors access to Asia's booming emerging markets while also providing a stable, safe-haven platform for entree into the region.
In Asia Friday the Nikkei 225 Index sank 1.1% to 10,360 and Hong Kong's Hang Seng Index slid 0.7% to 23,617. In China the Shanghai Composite Index inched up 0.1% to close at 2,753.
Mired in deflation and stagnant for decades, Japan has been the economic basket case of the developed world. But the world's third-largest economy is getting an unexpected lift from roaring growth in emerging markets.
The Japanese yen on Wednesday eased down a bit from the 15-year and nine-year highs it set against the dollar and the euro respectively on Tuesday. But the market is watching for possible intervention from Tokyo to curb the currency's rise, which threatens Japan's recovery.