The Japanese hoped that another demoralizing defeat would force the U.S. to capitulate in the Pacific War and thus ensure Japanese dominance in the Pacific.
After Midway & the exhausting attrition of the Solomon Islands campaign, Japan's ship building & pilot training programs were unable to keep pace in replacing their losses , while the U.S. steadily increased it's output in both areas.
"We have been committed so long in the first finding the Japanese force, then this attack, it was of no use to tell a person he was comparatively 'low on fuel.' Sometimes radio silence helps."