How would Royal Navy carriers fare against the IJN in January 1939?

If the January 1939 Tsingtao incident led to war, how would the Royal Navy's carrier force fare against the Imperial Japanese Navy?

Britain and its likely allies would probably prevail in a long war through night operations, industrial depth, and a tightening distant blockade. Japan's stronger daylight carrier aviation would remain dangerous, but its January 1939 force lacks much of its later readiness.

A war beginning in January 1939 would pit Britain against a Japanese fleet still lacking the aircraft, formations, and preparations familiar from 1941. Japan would have an initial daylight carrier-air advantage, while Britain could exploit night operations and radar. The likely British response is a distant blockade backed by global bases, trade intelligence, and allies. If the fighting remains in the Far East, British home industry could mobilize without the bombing and disruption of a European war. Both sides' preference for delaying a major fleet encounter would give Britain time to bring its greater industrial resources into action.