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Japan earthquake prompts tsunami advisory and power outage in Kyushu
Kyushu Electric reported about 48,000 households without power, while tsunami warnings were issued for parts of the Ariake and Yatsushiro coasts.
An earthquake struck Japan’s Kumamoto prefecture on the island of Kyushu, with the US Geological Survey revising the preliminary magnitude to 6.8. Japan’s earthquake scale reported intense shaking, including Shindo 7 in some areas, and Shindo 6 shaking in cities and towns such as Yatsuhiro and Uto, plus Mashiki and Misato.
The Japan Meteorological Agency said the quake was centered just south of Kumamoto city and occurred at a depth of about 10 kilometers. A tsunami advisory was issued for the Ariake and Yatsushiro coasts, though no major impacts had been reported immediately after the event.
So far, reports indicate limited damage, with Kyushu Electric saying around 48,000 households were without power. CNN has reported that firms including Sony and TSMC have plants in the quake area, but there were no reports of damage at the time.
The event also raises reinsurance concerns given Japan’s history of major natural catastrophes. A previous earthquake near Kumamoto a decade ago was estimated to have caused insurance and reinsurance market losses of up to US $4 billion, and the story notes $1.55 billion in outstanding cat bonds exposed solely to Japanese earthquake risk.