Great Kobe earthquake

Conditions at the time

Japan lies in an active seismic zone and is exposed to recurring earthquake risks.

How events unfolded

On 1995/1/17, a powerful earthquake occurred in southern Hyogo Prefecture.

Stakeholders and impacts

Residents in affected areas, rescue workers, local governments and disaster-prevention authorities responded.

Information available at the time

Initial earthquake information and damage counts differ from subsequent investigations and revised material.

Findings confirmed later

The Japan Meteorological Agency records the event’s magnitude and damage in its list of major damaging earthquakes.

Alternative interpretations and limitations

Do not mix the Japan Meteorological Agency’s magnitude with scales used by other agencies; market impacts are not asserted without separate evidence.

Source-based context and interpretation

An archive-based BOJ study describes temporarily weaker production and temporary banking counters and loan support for institutions in affected areas. Yen appreciation and a US slowdown also contributed to the contemporaneous weakening of activity. Local disaster damage and national macroeconomic causes were not identical. ASSETCASTING interpretation: Reconstruction financing does not establish completed recovery. Separate restoration of payments and funding access in affected areas from national production and exports to distinguish the disaster from concurrent macroeconomic pressures.

Evidence coverage through 2020-11 · Sources checked 2026-10-14

• Monetary Policy in the 1990s ↗

Related events and periods1

• Global economic integration, IT investment, and recurring financial crises →

  An event or period whose recorded start falls within this editorial interval. This does not establish that it caused or represents the characteristics of the era, nor guarantee that the entire period falls within the interval.