Japan building pocket battlecruisers to act as commerce raiders according to the Australian newspaper The Tribune dated Tuesday 22 February 1938

An item published an item dated London, England 20 February referring to the naval correspondent of the Sunday Times who said that Japan was building pocket battlecruisers to be used as ocean commerce raiders. Their displacement would be 15,000-16,000 tons, main armament consisted of 30.48cm/12” guns and a speed of over 30 knots and so able to escape from more powerful ships. Convoys would have to be escorted by capital ships of more as 40,000 tons and armed with 45.72cm/18”guns to be safe.

Source

Trove.nla.gov.au