Martin Schulz
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Japan damage may cost up to $235bn

The earthquake and tsunami that hit Japan have caused up to 235 billion dollars worth of damage.

That is according to an estimate from the World Bank. It says it might take the nation five years to repair the damage to property and infrastructure.

Swiss Re, the world's second largest re-insurance company, is saying the double tragedy has already cost it $1.2bn.

Martin Schulz is senior economist at Fujitsu Research Institute in Osaka. Speaking to the BBC via a webcam, he says the final cost of the damage bill may not end up so high.