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It is worth noting that the Japanese were not actually aware that carriers were in the South Pacific until the Battle of Coral Sea. They initially assumed that land-based aircraft were attacking them in a prior operation.

I can hardly fault them for thinking that maybe, just maybe, the carriers of the US were engaging in their own operations and it was just happenstance that the two forces happened to meet. But it's the job of military planners to assume the worst, so the Japanese definitely failed to be good analysts in that regard.