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In the 'where did Japan go wrong' thread, aside from the perhaps more plausible 'launching an unwinnable war' theory, this POD comes up a lot.

So, how could Japan win the Battle of the Coral Sea, and what would be the consequences?

For starters, Port Moresby would fall, which would mean (symbolically) the first time that Australian territory has ever fallen under an official enemy military governor. (Not very symbolic, but still interesting). Supplies to Australia would become much more difficult, both through Japanese control of those waters and the loss of US ships.

An invasion of Australia is probably impossible in any scenario, since Australia has about two thousand miles of desert and rainforest between the bits that matter and the bits anyone else is close to, but Japan would definitely be in a stronger position once the rollback begins.
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