How the Imperial Japanese Navy compared with the Regia Marina

How did the Imperial Japanese Navy and the Italian Regia Marina compare in the 1940s?

Japan was larger and possessed capabilities at every major level, especially carriers, although some Italian ship designs may have been individually superior and Italy's fleet remained formidable within the Mediterranean.

Japan's navy was much larger and included operational carrier aviation that Italy never completed. The Regia Marina nevertheless fielded several strong individual designs and benefited from operating near land-based aircraft. That geographic advantage had limits because land-based aircraft spent fuel reaching the fleet and operated through a separate command structure. A carrier close to the ships could provide longer local cover and respond under the same command, which is why Italy's missing carrier capability mattered.