Mar 11, 2011 07:44 GMT  ·  By

Early reports are showing that a devastating, 8.9-magnitude earthquake struck Japan, right off the coast of its most populous island, Honshu. The event began at 2:46 pm Tokyo time (0546 GMT), and was followed by severe aftershocks and tsunamis.

The epicenter of the “mega” tremor was found to be some 80 miles (128 kilometers) offshore, at a depth of 24.4 kilometers (15.2 miles), which is really shallow.

According to the United States Geological Survey (USGS), the exact coordinates of the epicenter are 38.322°N, 142.369°E. The point of origin is located about 373 kilometers (231 miles) northeast of Tokyo, the nation's capital.

The city is part of the largest megalopolis in the world, which is home to about 83 million people. At this time, it's still too early to assess any damages or casualties the tremor and subsequent aftershocks and tsunamis may have caused.

This event was significantly more powerful than the one that struck Haiti on January 12, 2010. That earthquake killed an estimated 230,000 people, and its epicenter was located 25 kilometers (16 miles) west of Port-au-Prince, the Haitian capital.

Authorities in Japan are still reeling from shock, and are attempting to organize rescue efforts, but many roads and critical transport infrastructure have been affected by the massive, 10-foot waves that slammed the shorelines.

Additional tsunamis are expected to hit Honshu later today. Geologists say that it's also likely that aftershocks will strike too. Already, a 7.4 magnitude aftershock battered the country after the initial geological event.

Security cameras mounted in cities in the disaster-hit area showed buildings on fire, boats being swept away by the currents, and shoreline highways flooded by the ocean, according to the New York Times.

The Associated Press reports that buildings are on fire even in some districts of the Japanese capital, while the northern parts of the island – the ones closest to the epicenter – suffer much worse.

Commuter and bullet trains have been grounded, as were airplanes and major highways. The Telegraph reports that even the stock markets began to plummet after the tremor struck.

Keep an eye on this space for developments as things progress.