LONDON | After the earthquake hit, the longer-term worry for both the equity market and the economy was that earnings power of Japanese companies had been severely damaged. But Investment house Schroders released Friday a note saying the worse scenario has been averted. Shogo Maeda, Head of Japanese Equities, confirmed that “corporate earnings have shown, and are further expected to show, a significant comeback during 2011. Corporate Japan continues to advance as historically high levels…