What if Japan had suffered the same level of ship losses that the United States absorbed around Guadalcanal?
Short answerJapan would be largely out of commission because it lacked the industrial infrastructure to replace those losses quickly.
NotesThe counterfactual reverses the losses of the Guadalcanal campaign to expose the underlying industrial asymmetry. A Japanese loss on the American scale would remove much of the fleet from effective service for a large part of the war. Japan could replace some ships, but not at the speed or depth available to the United States and its allies. Tactical exchange ratios therefore mattered less than whether each navy could train crews and regenerate complete fighting systems.