Davies played her second nine in five-under-par and was seven-under on the day for a 65, one stroke better than Reilley Rankin and Chie Arimuram, who are tied for second. Erina Hara was in fourth at 67 and Mie Nakata shot four-under 68 and is in fifth.
Davies played the back nine first at the Kashikojima Country Club and was two under after four holes. After a string of five pars, Davies birdied No. 1 and then jumped up the leader board with 3s on the par-4 third and fourth holes.
She tied for the lead with a birdie at the par-5 seventh and grabbed the outright lead by dropping a 12-foot birdie putt at No. 9.
The $1.4 million Mizuno Classic is the final Asia stop for the LPGA this year. There are two U.S. tournaments remaining on the women’s golf schedule for 2007.