@Magister:
Often US starts KJF after seeing Japan build 2 factories instead of transports (if UK ‘exploded’ and threatens all seas early). Japan should NOT spend on factories after seeing a clear KJF (big US naval build), but the one in Indochina is still nice to have. Can retreat the fleet in front of it and keep it growing, while threatening any landings on richest islands.
To expand on this thought:
KJF can be EXTREMELY deadly to the Axis. Who cares if Germany gets Russia if England still has Africa (easy to do) and America has taken out Japan (not easy, but can be done without too much effort if you know what you are doing.)
Because Japan faces a triple threat at the start of the game and a double threat from then on, I often times find KJF the easier path for the allies. As such, I generally play Japan “conservatively” on Japan 1.
I like to hit Pearl either EXTREMELY hard or not at all. (If England has their ships massed in SZ 59 or something, and I can destroy them and a fighter of theirs, then I go there instead of pearl, otherwise, anything that can get to Pearl goes to Pearl in an effort to win without a single loss.)
This causes America to give up any plans of KJF. Because America HAS to build in the East, there is no point in using 3 rounds to get to the West.
But, this almost requires Japan to not build any industries on Japan 1. And why should you? Until you have 33 IPC and 5 Transports a round, there is no point in getting that complex, in my opinion. (11 Units - Japan 8, Manch/Kwang/FIC 3 cost a minimum of 33 IPC.) However, 32 IPC can easily go to 4 Infantry, 4 Armor filling up Japan itself and using 4 transports while you clear islands with the others.
Just my opinion anyway.
BTW, if England and Russia move like KJF is happening, I like to build two bombers with Japan. This gives me an incredibly powerful attack force to hit SZ 55. (You have to attack Hawaii with Inf, Arm, Fig on Japan 1 to get it to work though.)