In the land of lifetime employment (at least for many workers in big companies), Mr Ghosn shocked Japan by announcing the closure of five factories employing over 16, 000 people in Japan alone, cutting capacity by 30% to bring it more into line with sales and boosting utilisation rates to around the 75-80% rates at which car makers begin to make money.

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After the 1997 financial crisis, reformers were temporarily put in charge of cleaning up that sector in Japan, resulting in the closure of several prominent banks and securities firms.

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While the accident has generated huge safety concerns about Japan's nuclear industry, by forcing the closure of other nuclear reactors, it has also sharply reduced Japan's energy-supply capabilities.

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Last year, for example, an earthquake in Japan forced the closure of several nuclear plants, leading to a surge in demand for gas for power generation.

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At the World Conservation Congress in Barcelona last week both Spain (an important tuna-fishing nation) and Japan (an important tuna-buying nation) supported the closure of the Mediterranean bluefin tuna fishery until stocks rise.

ECONOMIST: High time to save the Mediterranean bluefin