Trim excess fat from the pork chops. Cover the chops with plastic wrap, and pound with a meat mallet, working from the center outwards, until they are 1/4 to 1/3 inch thick.
Season the chops lightly with salt and pepper, and set aside.
In a shallow dish or pie plate, mix the flour, 1 teaspoon salt and 1/2 teaspoon black pepper. In another dish, beat the 2 eggs with 2 tablespoons water. In a third dish, place the panko bread crumbs.
Dip each piece of pork first in flour, then in egg, then in breadcrumbs, pressing to make sure the pork is well coated.
*Deep fryer cooking instructions:* Preheat the oil in the deep fryer to 375 degrees.
Cook 2 chops at a time in the hot oil for about 4 minutes until medium golden brown and cooked through.
*Stovetop cooking instructions:*
Heat about 1/3 inch of canola oil in a large skillet over medium high heat to about 375 degrees. If you don't have a frying thermometer, you can test the temperature of the oil by putting in a one-inch cube of bread. If it browns in about 50 seconds, the oil is the right temperature.
Fry the pork 2-3 pieces at a time, being careful not to overcrowd the pan. Cook for 2-3 minutes on each side, until medium golden brown and cooked through.
Prepare the Japanese barbecue sauce (tonkatsu sauce) by whisking together all ingredients thoroughly.
Serve katsu pork with Japanese barbecue sauce and steamed rice. Shredded cabbage is also a traditional accompaniment to this dish.