I believe Germany had also lost her Pacific colonies to Japan and Britain by the end of 1914. Not sure Japan will be in the mood to give them back, but then I'm far from an expert on the subject.
Could be an early point of contention for the European powers vs. Japan. I really see that as being the big conflict in this century. Wether it comes earlier, at the same time, or later than OTL WWII remains to be seen. But it's definitely out there lurking on the horizon.