Western Japan was hit by a 7.6 magnitude earthquake that led to a 1.2 meter tsunami.
Japanese TV has shown fires in Wajima city and there are reports of numerous injuries and stuck in collapsed buildings.
The event is a reminder of the magnitude 9 earthquake that led to the Fukushima disaster along with the Dec 26, 2004 magnitude 9.1 earthquake that led to the Indian Ocean tsunami.
Given the smaller scale of this earthquake and Japan's extreme preparedness for earthquakes, I wouldn't expect this one to be a factor for markets.
