In the 1930s, the US Navy thought its battles would be fought at long range, in the daylight, and torpedoes were obsolete. Japan trained and planned to fight at night at medium to short ranges, with fast, 30 foot torpedoes with a ton of explosives in their warhead. The Japanese Long-Lance (or Type 93) torpedo was developed by the Japanese in the thirties. Using liquid oxygen as a propellant, they were the fastest, longest ranged, and hardest hitting torpedoes in the world. (1) (2)
This cost the US dearly in the south Pacific in the early years of World War 2. US cruisers and destroyers often faced Japanese cruisers and destroyers armed with dozens of Long-Lance torpedoes tantivy closing the range to under 10,000 yards.
(1) Japanese Type 93 Torpedo
(2) Fubuki Class Destroyers (carry 9 Long-lance torpedoes in three mounts of 3 + reloads)