It is the worst disaster since the Second World War. An earthquake and a tsunami hit Japan, damaging the Fukushima nuclear power plant.
The cost is hard to quantify yet, but Goldman Sachs believes it could be as high as $200bn.
And the rest of the world will feel the knock-on effect. Japan, the world's third-largest economy, is an important engine of growth for the rest of Asia and the world, and is facing a huge challenge in raising the money to fund its rebuilding.
Just how will debt-ridden Japan pay for the earthquake and tsunami recovery?
We also look at the wider effects of the disaster. As nuclear power is being questioned, some countries are reconsidering new reactors at a time when the industry was experiencing a rennaissance.
Plus, business and pleasure - ski lovers hitting pristine slopes in an unexpected destination for the ultimate adrenalin rush - Afghanistan.
This episode of Counting the Cost can be seen from Friday, March 18, at the following times GMT: Friday: 2230; Saturday: 0930; Sunday: 0330; Monday: 1630.