The empire
A very quite session really.
Japan is pushing on into mid Burma and wins most of the gruelling encounters, but fresh reinforcements of a field army of marines will soon restore order. Every battle put japan further an further away from its lines of communication.
Elsewhere the war was quiet, bomber command campaign opened with some well coordinated attacks on N Germany. With bombing technology in infantile phase results are fair - good, but with long reorg time due to Luftwaffe air defence. However new techs in near future will address this.
The RN grows back with new BB, DD and CV.
Resources flowing abundantly to all corners of the empire.
All in all the early strategy of tieing Japanese down in the feint in Vietnam is now bearing fruit, with japan even unable to secure NEI. With Australia and NZ secure, the USN is looking for yellow meat to grind.