What peace terms might Britain pursue with Japan?

What concessions might Britain seek before accepting peace with Japan?

Britain might demand withdrawal from post-1919 gains and limited naval reductions while leaving Japan strong enough to avoid American dependency.

Britain might seek Japanese withdrawal from acquisitions made after 1919 and reduce its fleet toward the strength of France and Italy. Some territories would return to China or pass under international protection. Japan would still retain enough power to avoid becoming an American dependency. A related naval agreement might allow Germany to build to the same second-tier level. The proposed balance leaves France, Germany, Italy, and Japan individually weaker than Britain or the United States while making their combined weight consequential.