Fishing is highly developed, and the annual catch is one of the largest in the world.
In the late 19th cent. Japan was rapidly and thoroughly industrialized. Japan's economy collapsed after the defeat in World War II, and its merchant marine, one of the world's largest in the 1930s, was almost totally destroyed. In the late 1950s, however, the nation reemerged as a major industrial power. By the 1970s it had become the most industrialized country in Asia and the second greatest economic power in the world after the United States.