I've been lucky to have a few chances to ride this winter in Niigata. I'm an old hat, so I never get cold.
On a sub zero pre dawn start, from bottom to top:
Thin wool socks, regular shoes, neoprene shoe covers.
Uniqlo heat tech tights, fleece lined bibs.
Merino wool base layer, heat tech turtle neck, pearl izumi winter jacket.
Thinsulate branded synthetic wool gloves. 500 to 1000 yen in the supermarket. Get the long cuff. 2 pairs. Down to 1 when and if it warms up.
Home centre Musashi balaclava. Plus a spare in the pocket. Nothing beats the feeling of a new beanie for the ride home....
And of course, stop as little as possible...