Defending champions Peter Burling and Blair Tuke remain on course for another podium place at the halfway point of the 49er class.
The Kiwi duo sit fourth overall through six of 12 races after another mixed day for New Zealand crews on Enoshima Yacht Harbour.
Burling and Tuke started in fifth out of 19 boats and were unable to improve on that position during a disappointing start to the day, recording a 12th-place finish in race five.
But the six-time 49er world champions responded well and displayed some of the form that saw them claim gold in the class at Rio 2016, crossing second in race six some 15 seconds behind the Brazilian winners to equal their best effort from day two.
Burling and Tuke are now on 26 points, eight behind the British and Spanish boats at the head of the fleet.
After 12 races are complete the top 10 boats will progress to Monday's medal race, meaning the two-time medallists are well on course to pick up a third.
Burling and Tuke were joined by three other Kiwi sailing medallists in Rio, but so far in Tokyo the New Zealand team appear unlikely to repeat that haul.
There are a couple of crews lurking just outside the medal places, though, and Paul Snow-Hansen and Dan Willcox appear one of the most likely crews to eventually earn a podium place.
Having made a rapid start to the competition to enter the second day of racing in second overall, the Kiwi crew have remained in medal contention after four of 10 races in the men's 470.
Snow-Hansen and Willcox finished seventh in the third race to drop down one spot, unable to keep pace with winners and first-place pair Mathew Belcher and Will Ryan of Australia.
And the Kiwis replicated that performance in race four to end the day in fifth overall, just a point outside bronze and 11 behind the Australian boat.
The other chief Kiwi contender is Josh Junior in the Finn, having recorded a couple of positive results to remain right on track for a spot in his medal race.
Junior began the day eighth overall and finished in that same position in race five to move up one spot on the overall leaderboard, solidifying his seventh spot with a fifth-place finish in this evening's sixth race.
The 31-year-old - rated a serious medal chance heading into the Games - is 12 points behind Hungarian Zsombor Berecz in the bronze-medal position.
The news was less pleasing for Sam Meech, however, who was unable to continue his resurgence in the Laser and looks unlikely to add to the bronze medal he won in Rio.
After a difficult start to the regatta, Meech backed up yesterday's third place by finishing second in race seven, raising hopes he would continue to climb the leaderboard.
But Meech was unable to repeat that effort in race eight, finishing 13th to leave himself 14th overall with two races to come, likely ending his chances of factoring in the medal race.
Elsewhere, Micah Wilkinson and Erica Dawson endured another day to forget in the Nacra 17.
Coming into the day 12th, the Kiwis were unable to improve on that position, finishing 11th in race four, eighth in race five and 12th in race six.
Wilkinson and Dawson are now 35 points off the bronze medal with six of 12 races to come.
The other Kiwi crew in Tokyo, 49er FX pair Alex Maloney and Molly Meech, were inactive today and remain ninth overall after six of 12 races.
How the Kiwi sailing crews are placed:
Blair Tuke and Peter Burling (49er) - fourth overall after 6/12 races
Paul Snow-Hansen and Dan Willcox (men's 470) - seventh overall after 4/10 races
Josh Junior (men's Finn) - seventh overall after 6/10 races
Sam Meech (men's Laser) - 14th overall after 8/10 races
Erica Dawson and Micah Wilkinson (Nacra 17) - 12th overall after 6/12 races
Alex Maloney and Molly Meech (49er FX) - ninth overall after 6/12 races