Early researched (2 50% research bumps from focus) 1940 SE Fighters with engine/range boosts and reliability 80 are fine for Japan in her early wars with the UK, NEI, AST, and maybe US, if you can scrounge the air xp. You are basically designing a Zero. Heavies are ok, they are just slower to produce (although why they take the same resource amounts as a s/e fighter is beyond me), and will get chewed if they run into s/e fighters. And mean another research line because you HAVE to research fighters for carrier fighters.
Do agree with TAC, the range efficiency penalties to 1936 and 40 CAS in Asia hurt. I don't even bother with land CAS with Japan, unless maybe if I am planning to fight in Western Europe. Almost to the point where I am going all fighter/NAV on my new carriers to save research and production lines.. Just keep the starting CAS on old carriers to provide ground support in invasions.
In SP 1.3.3 it is all about maximizing your production line efficiency and scrounging for enough CIC to import Aluminum from Russia, or taking the Aluminum from Russia.
Which of course leads me to.... Add Aluminum in Asia.