I have to say that I purchase 2 transport and 1 IC on J1. You may delay the IC to J2 with the more versatile purchase of 3 transports and 2 tanks. It is important to say that you need some protection for your transport in SZ62 at the end of J1 because of the US bomber. In my opening, I leave a loaded carrier with a destroyer from SZ51.
I am not in favor of attacking the USA on J1 because I consider their possible counter strike equivalent to my attack. Also, if you are going for India and make only transports, it might be harder to strike again USA on your second turn at Hawaii. In addition, any fleet in Hawaii is an easy target for the richy USA. I prefer attacking only UK because they cannot strike back. I concentrate heavily on China and I destroy the UK fleet only with planes on turn 1 while keeping my fleet somewhat regrouped and at distance from the US coast to force USA to invest in their fleet if they go in the Pacific. Most of the time, I use my battleship and cruiser to support an attack to Fukien.
I really like to place my IC in Manchuria for many reasons on J1 or J2. It can easily be supplied from Japan. It does not need a lot of protection because it has no use for the allies. It produces at 3 so this is equivalent to India. If India is a threat because an IC is built, I try to use heavily my transports to send additional ground units to FIC so that they can combine with tanks from Manchuria to attack Burma and India with air support. At this point, Russia needs to dedicate supplies to help UK not to lose India in the long run. And if the allies are able to keep it, so be it. It means that Japan has accomplished its goal that is fighting against Russia and UK the most so that Germany will easily be able to expand in Europe.
About Russia, let them come and make the coast attractive for R1. Their attacking infantry will be just dead on J2. You can use all transport and air force to strike them back. I prefer to concentrate at first on China by attacking 4 territories and destroying their plane to minimize any new infantry that they can produce. Their plane is basically their only attacking piece. This almost eliminates China production for the rest of the game. Russia needs every infantry to stop Germany and has a serious supply gap between Manchuria and Moscow.