There are many beings currently suffering in Japan due to the major earthquake and tsunami. Save the Children is a wonderful organization that is on the ground there, and focuses its attention on helping child victims of disasters.
If you are interested in some meditation practices you can do to help, tonglen is a powerful one. It is the practice of exchanging self for others, of breathing in suffering and breathing out relief, and the link I posted contains clear and pith instructions on how to do it. The important thing to remember when using tonglen is that everything is dissolving into space - you aren't holding onto anything.
If you would like, you can also recite the Heart Sutra, repeating the central mantra that it contains anywhere from 7 to 108 times. This sutra transforms suffering.
May all those beings affected by these events be free from suffering and the roots of suffering. May they know happiness and the roots of happiness. May the constantly dwell in the great joy devoid of all suffering. May they dwell in equanimity, free from passion, aggression and ignorance.