Shokaku capsizes following Coral Sea

[Kingfish]

Following the battle of the Coral Sea the badly damaged IJN Carrier Shokaku is ordered back to Japan for repairs. While enroute the combination of her high speed and gashed port bow causes her to nearly capsizes.

In this WI we assume she in fact rolled over and sank with heavy loss of life.

What effect would this have on future IJN strategy?

The Midway Op would not be affected, as she was removed from the plans following the assessment of her damage.

It is Post-Midway, and specifically the battles around the Solomons, where her absence would really be felt.
Aside from Zuikaku the IJN can only deploy a handful of escort/light carriers (Taiho isn't due for another 2 years). In contrast the US has 3 fleet carriers to begin the campaign, with another on the way.

Would Japan adopt a more cautious strategy, perhaps not committing to the recapture of Henderson Field?
Would the IJN tactics shift towards a more battleship-centric navy by default?

[glenn239]

The Midway Op would not be affected, as she was removed from the plans following the assessment of her damage.

Maybe, maybe not. Zuikaku missed Midway because 5th CAR DIV had to raise new air units for two carriers. Now, 5th CAR DIV is one carrier.

[Kingfish]

What was preventing the IJN from transferring pilots from Shokaku to bring Zuikaku up to strength for Midway?

[T. A. Gardner]

What was preventing the IJN from transferring pilots from Shokaku to bring Zuikaku up to strength for Midway?

That Zuikaku's air wing was shot up pretty badly at Coral Sea too and both ship's had to train replacements.

As for the loss versus damaging of the Shokaku, I really don't think it would make much difference. Both carriers would miss Midway in any case and the later carrier battles near the Solomon Islands would have not resulted in a different outcome on Guadalcanal. Most people miss that when Enterprise and Saratoga were the only US fleet carriers left the four Sangamon Class large CVE had also transferred to the Pacific and operating separately (due to their lower speed) in the Solomon Islands area.

The presence of one less Japanese carrier wouldn't make that much difference.

On the other hand, had the Lexington survived Coral Sea that might have had some impact on those same battles.