Japan Smaller Capitalization Fund, Inc. (“JOF” or the “Fund”) is a non-diversified, closed-end management investment company listed on the New York Stock Exchange. The Fund’s investment objective is to provide shareholders with long-term capital appreciation and to invest, under normal circumstances, at least 80% of its total assets in smaller capitalization Japanese equity securities traded on the Tokyo, Nagoya, and JASDAQ Stock Exchanges, the Mothers, Centrex Markets, and other indices or markets determined by Nomura Asset Management U.S.A. Inc. to be appropriate indices or markets for smaller capitalization companies in Japan.