Smith's report mistakenly placed the Japanese carriers south of their actual position.
Three of the four Japanese carriers had been destroyed.
Taking four direct hits, the Japanese carrier was soon helpless.
Three other Japanese carriers were damaged during the six-month campaign.
American officials have indicated that they would be willing to consider granting new rights to Japanese carriers.
But they may want to look at the experience of Japanese carriers, which are locked in a bruising price war.
The Japanese carriers played no further significant role in the campaign.
The Japanese carrier said it would initially buy 30 of the planes, with an option for 20 more.
At the time, the Japanese carriers' planes were armed with bombs.
At the moment of decision, the Japanese carriers were essentially without high air cover.