Feng was part of a seven-way tie at the top after the opening round in Ibaraki and the 28-year-old broke loose early on Saturday, birdying five of her opening seven holes in a spectacular front nine.
"I did not use my 5-iron much today. I think what was working was my putting today," Feng said of her scintillating front nine.
"The first three holes, those birdies were not very short," she smiled. "After that, I just kept that good putting going on and finished nine-under."
The Rio Olympics bronze medallist eagled the par-five 12th and picked up two more shots in her spotless round to move to 15-under for the tournament.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
Overnight joint leader Suzuki made a slow start but had a spectacular back nine - picking up six shots in a seven-hole burst - to card a 65 and stay three shots clear of England's Charley Hull (64) and Min-Young Lee of South Korea (68).
Sweden's Anna Nordqvist, who has won twice on the LPGA Tour this year, was a further shot behind in a share of fifth after shooting a 68.
(Reporting by Amlan Chakraborty in New Delhi; editing by Nick Mulvenney)
