David Cohen, a Singapore-based analyst at regional economic commentators Action Economics, said "In the short term, the damage could even knock off almost 1% of the country's GDP, Longer-term though, it will balance out, through the rebuilding exercise which will be positive for growth will all the construction taking place. It could turn positive in about 12 months."
There will also be concerns about damage to productive capacity, Mr Cohen said, and industrial production may suffer as a consequence of the damage caused.
Electronics giant Sony has six factories - four in Miyagi and two in Fukushima - in the north-east of the country, the region which suffered the brunt of the quake.
"Production in all factories has been halted for now," said Sue Tanaka, of the firm's communications department.
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