At 11pm local time on Saturday 13 February 2021, a magnitude 7.1 (USGS) earthquake struck offshore of Fukushima, Japan, the epicentre approximately 45 miles east-northeast of Namie. No tsunami warnings have been issued.
The earthquake was felt across the islands of Hokkaido and eastern Honshsu, including the Greater Tokyo Area. Over 800,000 people experienced power outages, with damage seen across the impacted areas. At this time, the damage appears to be on the minor side, and overall impact limited.
Ten years ago, this area was the subject of the 2011 Tohoku earthquake and tsunami that caused the Fukushima nuclear power station to go into meltdown. However, the quake that caused this event a decade ago was a much stronger magnitude 9.0 earthquake and caused a massive tsunami. The Magnitude scale is logarithmic meaning that the event that happened over the weekend was approximately 100 times smaller.
At present, Twelve Capital does not anticipate any impact at all to the Twelve Capital portfolios. Should the situation change materially updates will be provided.