Did I read this correctly? The earthquake has moved an island?

I was watching ABC News, when the commentator began giving out geological changes, made by the Japanese earthquake. He stated that part of a Japanese island had been moved 8 feet by the earthquake! This is amazing news. Also, the 8.9 reading, of the Japanese earthquake on the Ricter Scale, has now moved earth 8 inches off-course on its axis. Question: what will be the final geological damages to land and property and can we expect more aftershocks?