N-PX 1 brhc10027636_npx.htm N-PX
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT
INVESTMENT COMPANY

Investment Company Act file number  811-05992
 
Japan Smaller Capitalization Fund, Inc.
(Exact name of registrant as specified in charter)

 
Worldwide Plaza, 19th Floor, 309 West 49th
Street, New York, New York
10019
 
(Address of principal executive offices) 
(Zip code)
 
Mr. Yuichi Nomoto
Worldwide Plaza
19th Floor
309 West 49th Street 
New York, New York 10019
(Name and address of agent for service)

Registrant’s telephone number, including area code:  (800) 833-0018

Date of fiscal year end: February 28
 
 
Date of reporting period: July 1, 2020 – June 30, 2021

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
SEDOL
Proposal
Proposed By
For/Against MGMT
Vote
AIN HOLDINGS INC.
30-Jul-2020
Annual General Meeting
1,700
5953240
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Otani, Kiichi
MGMT
FOR
FOR
         
Appoint a Director Sakurai, Masahito
MGMT
FOR
FOR
         
Appoint a Director Shudo, Shoichi
MGMT
FOR
FOR
         
Appoint a Director Mizushima, Toshihide
MGMT
FOR
FOR
         
Appoint a Director Oishi, Miya
MGMT
FOR
FOR
         
Appoint a Director Kimei, Rieko
MGMT
FOR
FOR
         
Appoint a Director Awaji, Hidehiro
MGMT
FOR
FOR
         
Appoint a Director Sakai, Masato
MGMT
FOR
FOR
         
Appoint a Director Mori, Ko
MGMT
AGAINST
AGAINST
         
Appoint a Director Hamada, Yasuyuki
MGMT
FOR
FOR
         
Appoint a Director Endo, Noriko
MGMT
FOR
FOR
         
Appoint a Director Ito, Junro
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Kawamura, Koichi
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Ibayashi, Akira
MGMT
AGAINST
AGAINST
         
Appoint a Corporate Auditor Muramatsu, Osamu
MGMT
FOR
FOR
                 
KUSURI NO AOKI HOLDINGS CO.,LTD.
19-Aug-2020
Annual General Meeting
21,000
BYX8TV2
Appoint a Director Aoki, Keisei
MGMT
FOR
FOR
         
Appoint a Director Aoki, Yasutoshi
MGMT
FOR
FOR
         
Appoint a Director Aoki, Hironori
MGMT
FOR
FOR
         
Appoint a Director Yahata, Ryoichi
MGMT
FOR
FOR
         
Appoint a Director Iijima, Hitoshi
MGMT
FOR
FOR
         
Appoint a Director Okada, Motoya
MGMT
AGAINST
AGAINST
         
Appoint a Director Yanagida, Naoki
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Hirota, Kazuo
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Kuwajima, Toshiaki
MGMT
AGAINST
AGAINST
         
Appoint a Corporate Auditor Nakamura, Akiko
MGMT
FOR
FOR
         
Approve Provision of Retirement Allowance for Retiring Directors
MGMT
AGAINST
AGAINST
         
Appoint Accounting Auditors
MGMT
FOR
FOR
         
Appoint a Substitute Corporate Auditor Morioka, Shinichi
MGMT
AGAINST
AGAINST
                 
DAIKOKUTENBUSSAN CO.,LTD.
19-Aug-2020
Annual General Meeting
127,900
6713186
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Oga, Shoji
MGMT
AGAINST
AGAINST
         
Appoint a Director Kikuchi, Kazuhiro
MGMT
FOR
FOR
         
Appoint a Director Omura, Masashi
MGMT
FOR
FOR
         
Appoint a Director Kawada, Tomohiro
MGMT
FOR
FOR
         
Appoint a Director Oga, Masahiko
MGMT
FOR
FOR
         
Appoint a Director Namba, Yoichi
MGMT
FOR
FOR
         
Appoint a Director Noda, Naoki
MGMT
FOR
FOR
         
Appoint a Director Fukuda, Masahiko
MGMT
FOR
FOR
         
Amend Articles to: Increase the Board of Directors Size
MGMT
FOR
FOR
         
Appoint a Substitute Corporate Auditor Kuwahara, Kazunari
MGMT
FOR
FOR
                 
CREATE SD HOLDINGS CO.,LTD.
21-Aug-2020
Annual General Meeting
42,100
B3V2XQ2
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Substitute Director who is Audit and Supervisory Committee Member Ampo, Yoko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yamamoto, Hisao
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Hirose, Taizo
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Yamamoto, Itsuko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Saito, Osamu
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nakaura, Shigeto
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kasakawa, Kuniaki
MGMT
FOR
FOR
                 
COSMOS PHARMACEUTICAL CORPORATION
21-Aug-2020
Annual General Meeting
5,200
B036QP1
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Uno, Masateru
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Yokoyama, Hideaki
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Iwashita, Masahiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Takemori, Motoi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Shibata, Futoshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Uno, Yukitaka
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
 Meeting Date
Meeting Type
 Voted Shares
SEDOL
Proposal
 Proposed By For/Against MGMT
Vote
SHINPO CO.,LTD.
18-Sep-2020
Annual General Meeting
2,300
6864493
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Shareholder Proposal: Approve Appropriation of Surplus
SHAREHOLDER
FOR
AGAINST
         
Shareholder Proposal: Approve Appropriation of Surplus
SHAREHOLDER
FOR
AGAINST
                 
SHIBUYA CORPORATION
24-Sep-2020
Annual General Meeting
19,300
6804239
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Amend Articles to: Increase the Board of Directors Size
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors
MGMT
FOR
FOR
                 
AI HOLDINGS CORPORATION
25-Sep-2020
Annual General Meeting
31,700
B1TK201
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Sasaki, Hideyoshi
MGMT
FOR
FOR
         
Appoint a Director Arakawa, Yasutaka
MGMT
FOR
FOR
         
Appoint a Director Yoshida, Shuji
MGMT
FOR
FOR
         
Appoint a Director Miyama, Yuzo
MGMT
FOR
FOR
         
Appoint a Director Kawamoto, Hirotaka
MGMT
FOR
FOR
         
Appoint a Substitute Corporate Auditor Naito, Tsutomu
MGMT
FOR
FOR
                 
PAN PACIFIC INTERNATIONAL HOLDINGS CORPORATION
29-Sep-2020
Annual General Meeting
64,200
5767753
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yoshida, Naoki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Shintani, Seiji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Matsumoto, Kazuhiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Sekiguchi, Kenji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nishii, Takeshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Sakakibara, Ken
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Moriya, Hideki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Maruyama, Tetsuji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Ishii, Yuji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kubo, Isao
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Yasuda, Takao
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Ariga, Akio
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Inoue, Yukihiko
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Yoshimura, Yasunori
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Fukuda, Tomiaki
MGMT
FOR
FOR
                 
JM HOLDINGS CO.,LTD.
19-Oct-2020
Annual General Meeting
119,100
BYM6DQ0
Approve Appropriation of Surplus
MGMT
FOR
FOR
                 
AVANTIA CO.,LTD.
25-Nov-2020
Annual General Meeting
140,600
6532820
Appoint a Director Sawada, Yasunari
MGMT
FOR
FOR
         
Appoint a Director Miyazaki, Takuya
MGMT
FOR
FOR
         
Appoint a Director Mito, Naoki
MGMT
FOR
FOR
         
Appoint a Director Omori, Takaharu
MGMT
FOR
FOR
         
Appoint a Director Hisada, Hidenobu
MGMT
FOR
FOR
         
Appoint a Director Okamoto, Ryo
MGMT
FOR
FOR
         
Appoint a Director Endo, Akikazu
MGMT
FOR
FOR
         
Appoint a Director Hironaka, Kazuo
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Yoshida, Shigemasa
MGMT
FOR
FOR
         
Amend Articles to: Amend Business Lines
MGMT
FOR
FOR
                 
STEP CO.,LTD.
12-Dec-2020
Annual General Meeting
170,600
6791999
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Tatsui, Kyoji
MGMT
FOR
FOR
         
Appoint a Director Endo, Yosuke
MGMT
FOR
FOR
         
Appoint a Director Umezawa, Naoyuki
MGMT
FOR
FOR
         
Appoint a Director Arai, Noriaki
MGMT
FOR
FOR
         
Appoint a Director Takase, Hiroyuki
MGMT
FOR
FOR
         
Appoint a Director Daikoku, Akiyoshi
MGMT
FOR
FOR
         
Appoint a Director Hakamada, Tsuyoshi
MGMT
FOR
FOR
         
Appoint a Director Morimoto, Yuriko
MGMT
FOR
FOR
         
Appoint a Director Kijima, Fumiyoshi
MGMT
AGAINST
AGAINST
         
Appoint a Director Asano, Tatsuru
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
SEDOL
Proposal
Proposed By
For/Against MGMT
Vote
TEAR CORPORATION
18-Dec-2020
Annual General Meeting
84,300
B142B83
Appoint a Director Tomiyasu, Norihisa
MGMT
FOR
FOR
         
Appoint a Director Okadome, Shokichi
MGMT
FOR
FOR
         
Appoint a Director Tsuji, Kohei
MGMT
FOR
FOR
         
Appoint a Director Miyazaki, Yoshiyuki
MGMT
FOR
FOR
         
Appoint a Director Manabe, Kengo
MGMT
FOR
FOR
         
Appoint a Director Yamamoto, Katsumi
MGMT
FOR
FOR
         
Appoint a Director Mori, Zenryo
MGMT
FOR
FOR
         
Appoint a Director Ogiso, Masato
MGMT
FOR
FOR
                 
EPS HOLDINGS,INC.
18-Dec-2020
Annual General Meeting
94,100
6367486
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Yan Hao
MGMT
FOR
FOR
         
Appoint a Director Nagaoka, Tatsuma
MGMT
FOR
FOR
         
Appoint a Director Sekitani, Kazuki
MGMT
FOR
FOR
         
Appoint a Director Orihashi, Shuzo
MGMT
FOR
FOR
         
Appoint a Director Jike, Toshihiro
MGMT
FOR
FOR
         
Appoint a Director Yamamoto, Kenichi
MGMT
FOR
FOR
         
Appoint a Director Takeda, Kaori
MGMT
FOR
FOR
         
Appoint a Director Funabashi, Haruo
MGMT
FOR
FOR
         
Appoint a Director Ando, Yoshinori
MGMT
FOR
FOR
         
Appoint a Director Taguchi, Junichi
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Tsuji, Junichiro
MGMT
FOR
FOR
                 
NISHIO RENT ALL CO.,LTD.
18-Dec-2020
Annual General Meeting
285,500
6638320
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Nishio, Masashi
MGMT
AGAINST
AGAINST
         
Appoint a Director Tonomura, Yoshihiro
MGMT
FOR
FOR
         
Appoint a Director Shibamoto, Kazunori
MGMT
FOR
FOR
         
Appoint a Director Tsujimura, Toshio
MGMT
FOR
FOR
         
Appoint a Director Hamada, Masayoshi
MGMT
FOR
FOR
         
Appoint a Director Hashimoto, Koji
MGMT
FOR
FOR
         
Appoint a Director Kitayama, Takashi
MGMT
FOR
FOR
         
Appoint a Director Kamada, Hiroaki
MGMT
FOR
FOR
         
Appoint a Director Yotsumoto, Kazuo
MGMT
FOR
FOR
         
Appoint a Director Nakano, Koji
MGMT
FOR
FOR
         
Appoint a Director Tanaka, Koji
MGMT
FOR
FOR
         
Appoint a Director Shimanaka, Tetsumi
MGMT
AGAINST
AGAINST
         
Appoint a Director Nosaka, Hiromi
MGMT
FOR
FOR
                 
SPRIX,LTD.
24-Dec-2020
Annual General Meeting
76,900
BG1VQF0
Appoint a Director who is not Audit and Supervisory Committee Member Tsuneishi, Hiroyuki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Hiraishi, Akira
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Hirai, Toshihide
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Otsu, Koichi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Matsuura, Takeshi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Akazawa, Hironobu
MGMT
FOR
FOR
         
Approve Provision of Retirement Allowance for Retiring Directors
MGMT
AGAINST
AGAINST
                 
HI-LEX CORPORATION
23-Jan-2021
Annual General Meeting
639,900
6643476
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Teraura, Makoto
MGMT
FOR
FOR
         
Appoint a Director Teraura, Taro
MGMT
FOR
FOR
         
Appoint a Director Nakano, Mitsuhiro
MGMT
FOR
FOR
         
Appoint a Director Masaki, Yasuko
MGMT
AGAINST
AGAINST
         
Appoint a Director Kato, Toru
MGMT
FOR
FOR
         
Appoint a Director Akanishi, Yoshifumi
MGMT
FOR
FOR
         
Appoint a Director Yoshikawa, Hiromi
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
 SEDOL
Proposal
Proposed By
For/Against MGMT
 Vote
KANAMOTO CO.,LTD.
28-Jan-2021
Annual General Meeting
75,400
6482903
Appoint a Director Kanamoto, Kanchu
MGMT
FOR
FOR
         
Appoint a Director Kanamoto, Tetsuo
MGMT
FOR
FOR
         
Appoint a Director Narita, Hitoshi
MGMT
FOR
FOR
         
Appoint a Director Kanamoto, Tatsuo
MGMT
FOR
FOR
         
Appoint a Director Hashiguchi, Kazunori
MGMT
FOR
FOR
         
Appoint a Director Sannomiya, Akira
MGMT
FOR
FOR
         
Appoint a Director Watanabe, Jun
MGMT
FOR
FOR
         
Appoint a Director Hirose, Shun
MGMT
FOR
FOR
         
Appoint a Director Yamashita, Hideaki
MGMT
FOR
FOR
         
Appoint a Director Naito, Susumu
MGMT
FOR
FOR
         
Appoint a Director Arita, Eiji
MGMT
FOR
FOR
         
Appoint a Director Yonekawa, Motoki
MGMT
FOR
FOR
         
Appoint a Director Tabata, Ayako
MGMT
FOR
FOR
         
Appoint a Director Okawa, Tetsuya
MGMT
FOR
FOR
         
Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Outside Directors)
MGMT
FOR
FOR
                 
HITACHI CAPITAL CORPORATION
26-Feb-2021
Extraordinary General Meeting
55,700
5754238
Approve Merger Agreement between the Company and Mitsubishi UFJ Lease & Finance Company Limited
MGMT
FOR
FOR
                 
STAR MICRONICS CO.,LTD.
25-Mar-2021
Annual General Meeting
157,200
6841526
Appoint a Director who is not Audit and Supervisory Committee Member Sato, Hajime
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Sato, Mamoru
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Sasai, Yasunao
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Iwasaki, Seigo
MGMT
FOR
FOR
         
Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members and Outside Directors)
MGMT
FOR
FOR
         
Approve Details of Compensation as Stock Options for Directors (Excluding Directors who are Audit and Supervisory Committee Members and Outside Directors)
MGMT
FOR
FOR
                 
THE PACK CORPORATION
25-Mar-2021
Annual General Meeting
41,700
6887821
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Inada, Mitsuo
MGMT
FOR
FOR
         
Appoint a Director Takinoue, Teruo
MGMT
FOR
FOR
         
Appoint a Director Yamashita, Hideaki
MGMT
FOR
FOR
         
Appoint a Director Okada, Susumu
MGMT
FOR
FOR
         
Appoint a Director Fujii, Michihisa
MGMT
FOR
FOR
         
Appoint a Director Ashida, Norio
MGMT
FOR
FOR
         
Appoint a Director Nakamura, Shuichi
MGMT
FOR
FOR
         
Appoint a Director Hayashi, Hirofumi
MGMT
FOR
FOR
         
Appoint a Director Nishio, Uichiro
MGMT
FOR
FOR
                 
NICHIRIN CO.,LTD.
26-Mar-2021
Annual General Meeting
76,800
6037080
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Maeda, Ryuichi
MGMT
FOR
FOR
         
Appoint a Director Taniguchi, Toshikazu
MGMT
FOR
FOR
         
Appoint a Director Kikumoto, Hideki
MGMT
FOR
FOR
         
Appoint a Director Soga, Hiroyuki
MGMT
FOR
FOR
         
Appoint a Director Namba, Hironari
MGMT
FOR
FOR
         
Appoint a Director Yano, Susumu
MGMT
FOR
FOR
         
Appoint a Director Suzuki, Kazufumi
MGMT
AGAINST
AGAINST
         
Appoint a Director Kimura, Miki
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Takahata, Shinichi
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
 SEDOL Proposal
Proposed By
For/Against MGMT
 Vote
OTSUKA CORPORATION
26-Mar-2021
Annual General Meeting
31,000
4272634
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Otsuka, Yuji
MGMT
FOR
FOR
         
Appoint a Director Katakura, Kazuyuki
MGMT
FOR
FOR
         
Appoint a Director Takahashi, Toshiyasu
MGMT
FOR
FOR
         
Appoint a Director Tsurumi, Hironobu
MGMT
FOR
FOR
         
Appoint a Director Saito, Hironobu
MGMT
FOR
FOR
         
Appoint a Director Yano, Katsuhiro
MGMT
FOR
FOR
         
Appoint a Director Sakurai, Minoru
MGMT
FOR
FOR
         
Appoint a Director Makino, Jiro
MGMT
AGAINST
AGAINST
         
Appoint a Director Saito, Tetsuo
MGMT
FOR
FOR
         
Appoint a Director Hamabe, Makiko
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Murata, Tatsumi
MGMT
FOR
FOR
         
Approve Provision of Retirement Allowance for Retiring Directors
MGMT
AGAINST
AGAINST
         
Approve Provision of Retirement Allowance for Retiring Corporate Auditors
MGMT
AGAINST
AGAINST
                 
SAKATA INX CORPORATION
26-Mar-2021
Annual General Meeting
546,600
6769833
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Morita, Kotaro
MGMT
FOR
FOR
         
Appoint a Director Ueno, Yoshiaki
MGMT
FOR
FOR
         
Appoint a Director Nakamura, Masaki
MGMT
FOR
FOR
         
Appoint a Director Nakamura, Hitoshi
MGMT
FOR
FOR
         
Appoint a Director Fukunaga, Toshihiko
MGMT
FOR
FOR
         
Appoint a Director Kataura, Yuichi
MGMT
FOR
FOR
         
Appoint a Director Nakagawa, Katsumi
MGMT
AGAINST
AGAINST
         
Appoint a Director Katsuki, Yasumi
MGMT
FOR
FOR
         
Appoint a Director Izumi, Shizue
MGMT
FOR
FOR
                 
KEIYO GAS CO.,LTD.
26-Mar-2021
Annual General Meeting
37,600
6487469
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Kikuchi, Misao
MGMT
FOR
FOR
         
Appoint a Director Habu, Hiroshi
MGMT
FOR
FOR
         
Appoint a Director Yamaura, Nobusuke
MGMT
FOR
FOR
         
Appoint a Director Eguchi, Takashi
MGMT
FOR
FOR
         
Appoint a Director Funaki, Takashi
MGMT
FOR
FOR
         
Appoint a Director Furuichi, Seiichi
MGMT
FOR
FOR
         
Appoint a Director Oishi, Noboru
MGMT
FOR
FOR
         
Appoint a Director Maekawa, Wataru
MGMT
FOR
FOR
         
Appoint a Director Mori, Takao
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Maruyama, Kyoji
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Aoyagi, Shunichi
MGMT
AGAINST
AGAINST
                 
PIGEON CORPORATION
30-Mar-2021
Annual General Meeting
6,000
6688080
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Nishimoto, Hiroshi
MGMT
FOR
FOR
         
Appoint a Substitute Corporate Auditor Noda, Hiroko
MGMT
FOR
FOR
                 
SIIX CORPORATION
30-Mar-2021
Annual General Meeting
580,700
6174556
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Murai, Shiro
MGMT
FOR
FOR
         
Appoint a Director Yanase, Koji
MGMT
FOR
FOR
         
Appoint a Director Ono, Seiji
MGMT
FOR
FOR
         
Appoint a Director Maruyama, Toru
MGMT
FOR
FOR
         
Appoint a Director Fujita, Tatsuo
MGMT
FOR
FOR
         
Appoint a Director Takatani, Shinsuke
MGMT
FOR
FOR
         
Appoint a Director Omori, Susumu
MGMT
FOR
FOR
         
Appoint a Director Yoshizawa, Nao
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Nitta, Yasuo
MGMT
FOR
FOR
         
Appoint a Substitute Corporate Auditor Kawai, Takanori
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
SEDOL
 Proposal
Proposed By
For/Against MGMT
 Vote
MABUCHI MOTOR CO.,LTD.
30-Mar-2021
Annual General Meeting
78,400
6551030
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Okoshi, Hiroo
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Itokawa, Masato
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Katayama, Hirotaro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Taniguchi, Shinichi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Iyoda, Tadahito
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kawamura, Takashi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Mitarai, Naoki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Tsutsumi, Kazuhiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Jody Ono
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Someya, Kazuyuki
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Asai, Takashi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Uemura, Kyoko
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Toyoshi, Yoko
MGMT
FOR
FOR
         
Approve Details of the Performance-based Stock Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members and Outside Directors)
MGMT
FOR
FOR
                 
NAKANISHI INC.
30-Mar-2021
Annual General Meeting
296,500
6271071
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Araki, Yukiko
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Toyotama, Hideki
MGMT
FOR
FOR
                 
SAN-A CO.,LTD.
25-May-2021
Annual General Meeting
 36,400
6280680
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Orita, Joji
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Uechi, Tessei
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Arashiro, Kentaro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Tasaki, Masahito
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Goya, Tamotsu
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Toyoda, Taku
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Takeda, Hisashi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Uema, Kumiko
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Nozaki, Seiko
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Onaga, Tomotsune
MGMT
FOR
FOR
         
Amend Articles to: Amend Business Lines
MGMT
FOR
FOR
         
Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members and Outside Directors)
MGMT
FOR
FOR
                 
MARUZEN CO.,LTD.
26-May-2021
Annual General Meeting
23,500
6573498
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Watanabe, Keiichi
MGMT
FOR
FOR
         
Appoint a Director Watanabe, Yudai
MGMT
FOR
FOR
         
Appoint a Director Bammi, Fusao
MGMT
FOR
FOR
         
Appoint a Director Takehara, Naoyuki
MGMT
FOR
FOR
         
Appoint a Director Yamanoi, Makoto
MGMT
FOR
FOR
         
Appoint a Director Yanai, Takashi
MGMT
FOR
FOR
         
Appoint a Director Shumura, Hiroki
MGMT
FOR
FOR
         
Appoint a Director Nakamaru, Yasushi
MGMT
FOR
FOR
         
Appoint a Director Yabe, Takaharu
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Komeichi, Hiroshi
MGMT
AGAINST
AGAINST
         
Appoint Accounting Auditors
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
 SEDOL
Proposal
Proposed By
For/Against MGMT
 Vote
PAL GROUP HOLDINGS CO.,LTD
26-May-2021
Annual General Meeting
155,700
6421898
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Inoue, Hidetaka
MGMT
FOR
FOR
         
Appoint a Director Inoue, Ryuta
MGMT
FOR
FOR
         
Appoint a Director Matsuo, Isamu
MGMT
FOR
FOR
         
Appoint a Director Arimitsu, Yasuji
MGMT
FOR
FOR
         
Appoint a Director Shoji, Junichi
MGMT
FOR
FOR
         
Appoint a Director Kojima, Hirofumi
MGMT
FOR
FOR
         
Appoint a Director Watanabe, Takayo
MGMT
FOR
FOR
         
Appoint a Director Higuchi, Hisayuki
MGMT
AGAINST
AGAINST
         
Appoint a Director Teranishi, Kensaku
MGMT
FOR
FOR
         
Appoint a Substitute Corporate Auditor Nakazawa, Mioko
MGMT
FOR
FOR
                 
IZUMI CO.,LTD.
26-May-2021
Annual General Meeting
205,400
6468152
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Yamanishi, Yasuaki
MGMT
FOR
FOR
         
Appoint a Director Kajihara, Yuichiro
MGMT
FOR
FOR
         
Appoint a Director Mikamoto, Tatsuya
MGMT
FOR
FOR
         
Appoint a Director Kuromoto, Hiroshi
MGMT
FOR
FOR
         
Appoint a Director Machida, Shigeki
MGMT
FOR
FOR
         
Appoint a Director Nitori, Akio
MGMT
FOR
FOR
         
Appoint a Director Yoneda, Kunihiko
MGMT
FOR
FOR
         
Appoint a Director Aoyama, Naomi
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Kawanishi, Masami
MGMT
FOR
FOR
         
Approve Provision of Retirement Allowance for Retiring Corporate Officers
MGMT
AGAINST
AGAINST
         
Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Outside Directors)
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Corporate Auditors
MGMT
FOR
FOR
         
Approve Payment of Accrued Benefits associated with Abolition of Retirement Benefit System for Current Corporate Officers
MGMT
AGAINST
AGAINST
                 
ABC-MART,INC.
27-May-2021
Annual General Meeting
70,400
6292102
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Noguchi, Minoru
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Katsunuma, Kiyoshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kojima, Jo
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kikuchi, Takashi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Hattori, Kiichiro
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Matsuoka, Tadashi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Sugahara, Taio
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Toyoda, Ko
MGMT
FOR
FOR
                 
AMIYAKI TEI CO.,LTD.
08-Jun-2021
Annual General Meeting
309,900
6567565
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Miyazaki, Takuya
MGMT
FOR
FOR
         
Appoint a Director Ishimori, Hideo
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Oda, Masakatsu
MGMT
AGAINST
AGAINST
                 
TOKAI RIKA CO.,LTD.
15-Jun-2021
Annual General Meeting
125,900
6894025
Appoint a Director Ninoyu, Hiroyoshi
MGMT
FOR
FOR
         
Appoint a Director Sato, Koki
MGMT
FOR
FOR
         
Appoint a Director Tanaka, Yoshihiro
MGMT
FOR
FOR
         
Appoint a Director Nishida, Hiroshi
MGMT
FOR
FOR
         
Appoint a Director Fujioka, Kei
MGMT
FOR
FOR
         
Appoint a Director Tsuzuki, Shoji
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Sugiura, Isaki
MGMT
FOR
FOR
         
Amend Articles to: Amend Business Lines
MGMT
FOR
FOR
         
Approve Payment of Bonuses to Corporate Officers
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
SEDOL
Proposal
Proposed By
For/Against MGMT
Vote
TRANCOM CO.,LTD.
17-Jun-2021
Annual General Meeting
5,100
6890034
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Shimizu, Masahisa
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Tsunekawa, Yutaka
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Jinno, Yasuhiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kambayashi, Ryo
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Takebe, Atsunori
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Sato, Kei
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kanayama, Aiko
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Shibuya, Eiji
MGMT
FOR
FOR
                 
KOHSOKU CORPORATION
17-Jun-2021
Annual General Meeting
239,600
6488592
Appoint a Director who is not Audit and Supervisory Committee Member Terashi, Koki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Terashi, Yuki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Wagatsuma, Hideki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kobayashi, Hiromi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Obara, Junichi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Numakura, Masae
MGMT
FOR
FOR
                 
OKINAWA CELLULAR TELEPHONE COMPANY
17-Jun-2021
Annual General Meeting
226,700
5805738
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Suga, Takashi
MGMT
FOR
FOR
         
Appoint a Director Yamamori, Seiji
MGMT
FOR
FOR
         
Appoint a Director Toguchi, Takeyuki
MGMT
FOR
FOR
         
Appoint a Director Oroku, Kunio
MGMT
AGAINST
AGAINST
         
Appoint a Director Aharen, Hikaru
MGMT
FOR
FOR
         
Appoint a Director Oshiro, Hajime
MGMT
FOR
FOR
         
Appoint a Director Tanaka, Takashi
MGMT
FOR
FOR
         
Appoint a Director Shoji, Takashi
MGMT
FOR
FOR
         
Appoint a Director Kuniyoshi, Hiroki
MGMT
FOR
FOR
         
Approve Payment of Bonuses to Corporate Officers
MGMT
FOR
FOR
                 
SUGIMOTO & CO.,LTD.
18-Jun-2021
Annual General Meeting
65,900
6856928
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Sugimoto, Masahiro
MGMT
AGAINST
AGAINST
         
Appoint a Director Sugimoto, Toshio
MGMT
FOR
FOR
         
Appoint a Director Sugimoto, Naohiro
MGMT
FOR
FOR
         
Appoint a Director Sugimoto, Masayuki
MGMT
FOR
FOR
         
Appoint a Director Miyaji, Kamezo
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Sakaguchi, Shosaku
MGMT
FOR
FOR
                 
T&K TOKA CO.,LTD.
18-Jun-2021
Annual General Meeting
472,700
6038469
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Masuda, Yoshikatsu
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yoshimura, Akira
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nakama, Kazuhiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kurimoto, Ryuichi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Takamizawa, Akihiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Isogai, Kota
MGMT
AGAINST
AGAINST
         
Appoint a Director who is Audit and Supervisory Committee Member Kida, Takatoshi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Otaka, Kenji
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Noguchi, Satoshi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Hanabusa, Koichi
MGMT
FOR
FOR
         
Approve Issuance of Share Acquisition Rights as Stock-Linked Compensation Type Stock Options for Directors (Excluding Directors who are Audit and Supervisory Committee Members and Outside Directors)
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
 SEDOL
Proposal
Proposed By
For/Against MGMT
 Vote
ADEKA CORPORATION
18-Jun-2021
Annual General Meeting
86,100
6054904
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Substitute Director who is Audit and Supervisory Committee Member Yumiba, Keiji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Shirozume, Hidetaka
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Tomiyasu, Haruhiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kobayashi, Yoshiaki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Fujisawa, Shigeki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Shiga, Yoji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yoshinaka, Atsuya
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yasuda, Susumu
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kawamoto, Naoshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kakuta, Noriyasu
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nagai, Kazuyuki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Endo, Shigeru
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Horiguchi, Makoto
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Hayashi, Yoshito
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Yajima, Akimasa
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Okuyama, Akio
MGMT
AGAINST
AGAINST
         
Appoint a Director who is Audit and Supervisory Committee Member Takemura, Yoko
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Sato, Yoshiki
MGMT
FOR
FOR
         
Amend Articles to: Increase the Board of Directors Size, Adopt Reduction of Liability System for Directors, Transition to a Company with Supervisory Committee, Allow the Board of Directors to Authorize Appropriation of Surplus and Purchase Own Shares
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members)
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors who are Audit and Supervisory Committee Members
MGMT
FOR
FOR
         
Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members and Outside Directors)
MGMT
FOR
FOR
                 
NS SOLUTIONS CORPORATION
18-Jun-2021
Annual General Meeting
70,100
6544687
Appoint a Director who is not Audit and Supervisory Committee Member Morita, Hiroyuki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Oshiro, Takashi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Matsumura, Atsuki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Fukushima, Tetsuji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Tamaoki, Kazuhiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yoshida, Katsuhiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Aoshima, Yaichi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Ishii, Atsuko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Ishii, Ichiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Funakoshi, Hirofumi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Takahara, Masayuki
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Higuchi, Tetsuro
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Hoshi, Shuichiro
MGMT
FOR
FOR
         
Amend Articles to: Increase the Board of Directors Size, Transition to a Company with Supervisory Committee, Approve Minor Revisions
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members)
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors who are Audit and Supervisory Committee Members
MGMT
FOR
FOR
         
Shareholder Proposal: Approve Appropriation of Surplus
SHAREHOLDER
FOR
AGAINST
         
Shareholder Proposal: Approve Purchase of Own Shares
SHAREHOLDER
FOR
AGAINST
         
Shareholder Proposal: Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Outside Directors)
SHAREHOLDER
FOR
AGAINST

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
 SEDOL Proposal
Proposed By
For/Against MGMT
 Vote
MORITA HOLDINGS CORPORATION
22-Jun-2021
Annual General Meeting
40,500
6602745
Appoint a Director Nakajima, Masahiro
MGMT
FOR
FOR
         
Appoint a Director Ogata, Kazumi
MGMT
FOR
FOR
         
Appoint a Director Morimoto, Kunio
MGMT
FOR
FOR
         
Appoint a Director Kanaoka, Shinichi
MGMT
FOR
FOR
         
Appoint a Director Isoda, Mitsuo
MGMT
FOR
FOR
         
Appoint a Director Kawanishi, Takao
MGMT
FOR
FOR
         
Appoint a Director Hojo, Masaki
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Asada, Eiji
MGMT
FOR
FOR
                 
NITTO KOHKI CO.,LTD.
22-Jun-2021
Annual General Meeting
217,400
6625894
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Ogata, Akinobu
MGMT
FOR
FOR
         
Appoint a Director Takata, Yoko
MGMT
FOR
FOR
         
Appoint a Director Mori, Kenji
MGMT
FOR
FOR
         
Appoint a Director Nakagawa, Yasuo
MGMT
AGAINST
AGAINST
         
Appoint a Director Komiyama, Mitsuru
MGMT
FOR
FOR
         
Approve Provision of Retirement Allowance and Condolence Allowance for a Deceased Director
MGMT
FOR
FOR
         
Appoint a Substitute Corporate Auditor Yamada, Hideo
MGMT
FOR
FOR
                 
FUJI SEAL INTERNATIONAL,INC.
22-Jun-2021
Annual General Meeting
17,900
5877221
Appoint a Director Kato, Fumio
MGMT
FOR
FOR
         
Appoint a Director Shioji, Hiroumi
MGMT
FOR
FOR
         
Appoint a Director Maki, Tatsundo
MGMT
FOR
FOR
         
Appoint a Director Seki, Yuichi
MGMT
FOR
FOR
         
Appoint a Director Okazaki, Shigeko
MGMT
FOR
FOR
         
Appoint a Director Shirokawa, Masayuki
MGMT
FOR
FOR
                 
NICHIREI CORPORATION
22-Jun-2021
Annual General Meeting
118,100
5809042
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Otani, Kunio
MGMT
FOR
FOR
         
Appoint a Director Okushi, Kenya
MGMT
FOR
FOR
         
Appoint a Director Taguchi, Takumi
MGMT
FOR
FOR
         
Appoint a Director Kawasaki, Junji
MGMT
FOR
FOR
         
Appoint a Director Umezawa, Kazuhiko
MGMT
FOR
FOR
         
Appoint a Director Takenaga, Masahiko
MGMT
FOR
FOR
         
Appoint a Director Tanabe, Wataru
MGMT
FOR
FOR
         
Appoint a Director Uzawa, Shizuka
MGMT
FOR
FOR
         
Appoint a Director Wanibuchi, Mieko
MGMT
FOR
FOR
         
Appoint a Director Shoji, Kuniko
MGMT
FOR
FOR
         
Appoint a Director Nabeshima, Mana
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Kato, Tatsushi
MGMT
FOR
FOR
         
Amend Articles to: Approve Minor Revisions
MGMT
FOR
FOR
         
Amend Articles to: Allow the Board of Directors to Authorize Appropriation of Surplus and Purchase Own Shares
MGMT
FOR
FOR
                 
PIOLAX,INC.
22-Jun-2021
Annual General Meeting
382,000
6485968
Approve Appropriation of Surplus
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Shimazu, Yukihiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nagamine, Michio
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Suzuki, Toru
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Sugiyama, Harumitsu
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Masuda, Shigeru
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Oka, Toru
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
 SEDOL Proposal
Proposed By
For/Against MGMT
 Vote
ELEMATEC CORPORATION
22-Jun-2021
Annual General Meeting
37,000
6406237
Appoint a Director Yokode, Akira
MGMT
FOR
FOR
         
Appoint a Director Kitahira, Masanori
MGMT
FOR
FOR
         
Appoint a Director Kawafuji, Sei
MGMT
FOR
FOR
         
Appoint a Director Hamada, Akio
MGMT
FOR
FOR
         
Appoint a Director Kakihara, Yasuhiro
MGMT
FOR
FOR
         
Appoint a Director Komatsu, Yosuke
MGMT
FOR
FOR
         
Appoint a Director Seki, Sosuke
MGMT
AGAINST
AGAINST
         
Appoint a Director Maeda, Tatsumi
MGMT
FOR
FOR
         
Appoint a Director Yatsu, Yoshiaki
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Mizukami, Hiroshi
MGMT
AGAINST
AGAINST
                 
ALPS LOGISTICS CO.,LTD.
23-Jun-2021
Annual General Meeting
124,400
6050764
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Usui, Masaru
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Shimohiro, Katsuhiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Fukiyama, Koji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kega, Yoichiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Ohashi, Susumu
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Ono, Sumiko
MGMT
FOR
FOR
                 
SEIREN CO.,LTD.
23-Jun-2021
Annual General Meeting
127,000
6793520
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Kawada, Tatsuo
MGMT
FOR
FOR
         
Appoint a Director Tsubota, Koji
MGMT
FOR
FOR
         
Appoint a Director Yu Hui
MGMT
FOR
FOR
         
Appoint a Director Oenoki, Toshiyuki
MGMT
FOR
FOR
         
Appoint a Director Yamada, Hideyuki
MGMT
FOR
FOR
         
Appoint a Director Kawada, Koji
MGMT
FOR
FOR
         
Appoint a Director Kitabata, Takao
MGMT
FOR
FOR
         
Appoint a Director Hotta, Kensuke
MGMT
AGAINST
AGAINST
         
Appoint a Director Sasae, Kenichiro
MGMT
FOR
FOR
         
Appoint a Director Tomoda, Akemi
MGMT
FOR
FOR
         
Appoint a Director Ueyama, Koichi
MGMT
FOR
FOR
         
Appoint a Director Katsuki, Tomofumi
MGMT
FOR
FOR
         
Appoint a Director Takezawa, Yasunori
MGMT
FOR
FOR
         
Approve Issuance of Share Acquisition Rights as Stock Options for Directors
MGMT
FOR
FOR
                 
FOSTER ELECTRIC COMPANY,LIMITED
23-Jun-2021
Annual General Meeting
123,700
6349008
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Yoshizawa, Hiromi
MGMT
FOR
FOR
         
Appoint a Director Narikawa, Atsushi
MGMT
FOR
FOR
         
Appoint a Director Lu San Tie
MGMT
FOR
FOR
         
Appoint a Director Kishi, Kazuhiro
MGMT
FOR
FOR
         
Appoint a Director Miura, Hiroki
MGMT
FOR
FOR
         
Appoint a Director Matsumoto, Minoru
MGMT
FOR
FOR
         
Appoint a Director Goto, Yasuhiro
MGMT
FOR
FOR
         
Appoint a Director Chujo, Kaoru
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Inokuma, Tsutomu
MGMT
FOR
FOR
         
Amend Articles to: Allow Use of Electronic Systems for Public Notifications, Eliminate the Articles Related to Counselors or Advisors
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
 SEDOL Proposal
Proposed By
For/Against MGMT
 Vote
KYOWA EXEO CORPORATION
23-Jun-2021
Annual General Meeting
69,500
6499420
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Mino, Koichi
MGMT
FOR
FOR
         
Appoint a Director Asano, Kenji
MGMT
FOR
FOR
         
Appoint a Director Sakaguchi, Takafumi
MGMT
FOR
FOR
         
Appoint a Director Kohara, Yasushi
MGMT
FOR
FOR
         
Appoint a Director Iwasaki, Naoko
MGMT
FOR
FOR
         
Appoint a Director Mochizuki, Tatsushi
MGMT
FOR
FOR
         
Appoint a Director Yoshida, Keiji
MGMT
FOR
FOR
         
Appoint a Director Funabashi, Tetsuya
MGMT
FOR
FOR
         
Appoint a Director Kurosawa, Tomohiro
MGMT
FOR
FOR
         
Appoint a Director Koyama, Yuichi
MGMT
FOR
FOR
         
Appoint a Director Higuchi, Hideo
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Suwabe, Masato
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Takahashi, Kimiko
MGMT
FOR
FOR
         
Amend Articles to: Change Official Company Name
MGMT
FOR
FOR
         
Appoint Accounting Auditors
MGMT
FOR
FOR
                 
TOKYO STEEL MANUFACTURING CO.,LTD.
24-Jun-2021
Annual General Meeting
243,400
6895879
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Substitute Director who is Audit and Supervisory Committee Member Miki, Kaori
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nishimoto, Toshikazu
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Imamura, Kiyoshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nara, Nobuaki
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Adachi, Toshio
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Nomoto, Minatsu
MGMT
AGAINST
AGAINST
         
Appoint a Director who is Audit and Supervisory Committee Member Hoshi, Hiroaki
MGMT
FOR
FOR
                 
NIPPON SEIKI CO.,LTD.
24-Jun-2021
Annual General Meeting
268,000
6642536
Appoint a Director who is not Audit and Supervisory Committee Member Sato, Koichi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Hirata, Yuji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Azuma, Masatoshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Osaki, Yuji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nagai, Shoji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nagano, Keiichi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Otaki, Haruhiko
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Nagai, Tatsuya
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Saiki, Etsuo
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Tomiyama, Eiko
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Shimamune, Ryuichi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Suzuki, Kiyoshi
MGMT
FOR
FOR
                 
KANADEN CORPORATION
24-Jun-2021
Annual General Meeting
306,000
6483304
Appoint a Director Motohashi, Nobuyuki
MGMT
FOR
FOR
         
Appoint a Director Moriya, Futoshi
MGMT
FOR
FOR
         
Appoint a Director Iguchi, Akio
MGMT
FOR
FOR
         
Appoint a Director Jin, Takeshi
MGMT
FOR
FOR
         
Appoint a Director Nagashima, Yoshiro
MGMT
FOR
FOR
         
Appoint a Director Ito, Yayoi
MGMT
FOR
FOR
         
Appoint a Director Mori, Hisataka
MGMT
FOR
FOR
         
Appoint a Director Saito, Shinsuke
MGMT
FOR
FOR
         
Appoint a Director Saigusa, Hironori
MGMT
FOR
FOR
         
Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Outside Directors)
MGMT
AGAINST
AGAINST
         
Appoint a Substitute Corporate Auditor Nagase, Yukiharu
MGMT
AGAINST
AGAINST
         
Appoint a Substitute Corporate Auditor Takeuchi, Akira
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
 SEDOL
Proposal
Proposed By
For/Against MGMT
 Vote
RYODEN CORPORATION
24-Jun-2021
Annual General Meeting
631,700
6763006
Appoint a Director Shogaki, Nobuo
MGMT
FOR
FOR
         
Appoint a Director Kitai, Shoji
MGMT
FOR
FOR
         
Appoint a Director Tanaka, Osamu
MGMT
FOR
FOR
         
Appoint a Director Ozawa, Takahiro
MGMT
FOR
FOR
         
Appoint a Director Miyagishi, Masamitsu
MGMT
AGAINST
AGAINST
         
Appoint a Director Shirata, Yoshiko
MGMT
FOR
FOR
         
Appoint a Director Muroi, Masahiro
MGMT
FOR
FOR
         
Approve Details of Compensation as Stock-Linked Compensation Type Stock Options for Directors
MGMT
FOR
FOR
                 
PALTAC CORPORATION
24-Jun-2021
Annual General Meeting
53,400
B61BG94
Appoint a Director Mikita, Kunio
MGMT
FOR
FOR
         
Appoint a Director Kasutani, Seiichi
MGMT
FOR
FOR
         
Appoint a Director Noma, Masahiro
MGMT
FOR
FOR
         
Appoint a Director Moriya, Akiyoshi
MGMT
FOR
FOR
         
Appoint a Director Shimada, Masaharu
MGMT
FOR
FOR
         
Appoint a Director Yogo, Katsutoshi
MGMT
FOR
FOR
         
Appoint a Director Oishi, Kaori
MGMT
FOR
FOR
         
Appoint a Director Asada, Katsumi
MGMT
FOR
FOR
         
Appoint a Director Orisaku, Mineko
MGMT
FOR
FOR
                 
NICHIHA CORPORATION
24-Jun-2021
Annual General Meeting
48,200
6638331
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Yamanaka, Tatsuo
MGMT
FOR
FOR
         
Appoint a Director Yoshioka, Narumitsu
MGMT
FOR
FOR
         
Appoint a Director Kojima, Kazuyuki
MGMT
FOR
FOR
         
Appoint a Director Tonoi, Kazushi
MGMT
FOR
FOR
         
Appoint a Director Kawamura, Yoshinori
MGMT
FOR
FOR
         
Appoint a Director Kawashima, Hisayuki
MGMT
FOR
FOR
         
Appoint a Director Yagi, Kiyofumi
MGMT
FOR
FOR
         
Appoint a Director Tajiri, Naoki
MGMT
FOR
FOR
         
Appoint a Director Nishi, Hiroaki
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Iwamoto, Yoshiko
MGMT
FOR
FOR
                 
NISHIKAWA RUBBER CO.,LTD.
24-Jun-2021
Annual General Meeting
285,200
6646862
Approve Appropriation of Surplus
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Nishikawa, Masahiro
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Fukuoka, Yoshitomo
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Ogawa, Hideki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Iwamoto, Tadao
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Naito, Makoto
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Ikemoto, Mitsuhiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yasuishi, Keiji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Teishi, Minoru
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Deguchi, Koso
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Tatsudai, Akihiko
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Yoshino, Takeshi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Osako, Tadashi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Yamamoto, Junichi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Kurata, Osamu
MGMT
FOR
FOR
         
Shareholder Proposal: Approve Purchase of Own Shares
SHAREHOLDER
FOR
AGAINST
         
Shareholder Proposal: Approve Abolition of Policy regarding Large-scale Purchases of Company Shares (Anti-Takeover Defense Measures)
SHAREHOLDER
AGAINST
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
SEDOL
Proposal
Proposed By
For/Against MGMT
 Vote
YUSHIRO CHEMICAL INDUSTRY CO.,LTD.
24-Jun-2021
Annual General Meeting
274,400
6988757
Appoint a Director who is not Audit and Supervisory Committee Member Ogo, Eiichi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Arisaka, Masanori
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kikuchi, Shingo
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Takahashi, Seiji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kobayashi, Kazushige
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nakano, Masafumi
MGMT
FOR
FOR
         
Approve Provision of Retirement Allowance for Retiring Directors (Excluding Directors who are Audit and Supervisory Committee Members)
MGMT
AGAINST
AGAINST
         
Approve Continuance of Policy regarding Large-scale Purchases of Company Shares (Anti-Takeover Defense Measures)
MGMT
AGAINST
AGAINST
                 
KOATSU GAS KOGYO CO.,LTD.
24-Jun-2021
Annual General Meeting
383,900
6495967
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Shibuya, Nobuo
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kuroki, Motonari
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Setsuda, Kazuhiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Sugioka, Takao
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yoshitaka, Shinsuke
MGMT
AGAINST
AGAINST
         
Appoint a Director who is Audit and Supervisory Committee Member Matsui, Ryosuke
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Sasano, Tetsuro
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Yamamura, Tadao
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Nagashima, Hiroaki
MGMT
FOR
FOR
         
Amend Articles to: Amend Business Lines, Reduce the Board of Directors Size, Transition to a Company with Supervisory Committee, Allow the Board of Directors to Authorize Appropriation of Surplus and Purchase Own Shares
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members)
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors who are Audit and Supervisory Committee Members
MGMT
FOR
FOR
         
Approve Payment of Bonuses to Directors
MGMT
FOR
FOR
                 
YOSSIX CO.,LTD.
24-Jun-2021
Annual General Meeting
83,800
BSZM2R7
Appoint a Substitute Director who is Audit and Supervisory Committee Member Suzuki, Takaomi
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Yoshioka, Masanari
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Segawa, Masahito
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yoshioka, Yutaro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Date, Tomio
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Torii, Tatsuya
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Uemura, Ryoji
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Hori, Yuji
MGMT
FOR
FOR
         
Amend Articles to: Change Official Company Name, Amend Business Lines, Increase the Board of Directors Size, Transition to a Company with Supervisory Committee
MGMT
AGAINST
AGAINST
         
Approve Provision of Retirement Allowance for Retiring Directors
MGMT
AGAINST
AGAINST
         
Approve Details of the Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members)
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors who are Audit and Supervisory Committee Members
MGMT
FOR
FOR
         
Approve Details of the Restricted-Share Compensation to be received by Directors
MGMT
AGAINST
AGAINST
                 
SERIA CO.,LTD.
24-Jun-2021
Annual General Meeting
156,100
6680718
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kawai, Eiji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Iwama, Yasushi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Tanaka, Masahiro
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
SEDOL
 Proposal
Proposed By
For/Against MGMT
 Vote
KOMATSU WALL INDUSTRY CO.,LTD.
24-Jun-2021
Annual General Meeting
18,100
6498762
Approve Appropriation of Surplus
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Kano, Yutaka
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yamada, Shinichi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kano, Shinya
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Hirose, Norio
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Aya, Yukio
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Hachiya, Toshio
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Nakada, Koichi
MGMT
FOR
FOR
         
Appoint Accounting Auditors
MGMT
FOR
FOR
                 
SHIKOKU CHEMICALS CORPORATION
24-Jun-2021
Annual General Meeting
238,500
6804303
Appoint a Director Tanaka, Naoto
MGMT
FOR
FOR
         
Appoint a Director Matsubara, Jun
MGMT
FOR
FOR
         
Appoint a Director Watanabe, Mitsunori
MGMT
FOR
FOR
         
Appoint a Director Hamazaki, Makoto
MGMT
FOR
FOR
         
Appoint a Director Manabe, Yoshinori
MGMT
FOR
FOR
         
Appoint a Director Enjo, Hiroshi
MGMT
FOR
FOR
         
Appoint a Director Hirao, Hirohiko
MGMT
FOR
FOR
         
Appoint a Director Harada, Shuitsu
MGMT
FOR
FOR
         
Appoint a Director Umazume, Norihiko
MGMT
FOR
FOR
         
Appoint a Director Furusawa, Minoru
MGMT
FOR
FOR
         
Appoint a Director Mori, Kiyoshi
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Katayama, Kazuhiko
MGMT
FOR
FOR
         
Appoint a Substitute Corporate Auditor Mizuno, Takeo
MGMT
FOR
FOR
                 
NAFCO CO.,LTD.
24-Jun-2021
Annual General Meeting
14,800
6712815
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Ishida, Takumi
MGMT
AGAINST
AGAINST
         
Appoint a Director Ishida, Yoshiko
MGMT
FOR
FOR
         
Appoint a Director Takano, Masamitsu
MGMT
FOR
FOR
         
Appoint a Director Fukamachi, Keiji
MGMT
FOR
FOR
         
Appoint a Director Masumoto, Koji
MGMT
FOR
FOR
         
Appoint a Director Takase, Toshio
MGMT
FOR
FOR
         
Appoint a Director Mabuchi, Yuji
MGMT
FOR
FOR
         
Appoint a Director Suematsu, Yasuyuki
MGMT
FOR
FOR
         
Appoint a Director Ono, Tetsuhiko
MGMT
FOR
FOR
         
Appoint a Director Yamada, Yasuhiro
MGMT
FOR
FOR
         
Appoint a Director Yamada, Isao
MGMT
FOR
FOR
         
Appoint a Director Imai, Tomoharu
MGMT
FOR
FOR
         
Appoint a Director Kitagawa, Daijiro
MGMT
FOR
FOR
         
Appoint a Director Hirose, Takaaki
MGMT
FOR
FOR
         
Appoint a Director Fukuda, Yoshinori
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Kojima, Tomoya
MGMT
FOR
FOR
         
Approve Provision of Retirement Allowance for Retiring Directors
MGMT
AGAINST
AGAINST
         
Approve Payment of Bonuses to Corporate Officers
MGMT
AGAINST
AGAINST
                 
MIRAIT HOLDINGS CORPORATION
24-Jun-2021
Annual General Meeting
374,800
B64KR62
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Kawaratani, Shinichi
MGMT
FOR
FOR
         
Amend Articles to: Amend Business Lines
MGMT
FOR
FOR
                 
TOTETSU KOGYO CO.,LTD.
24-Jun-2021
Annual General Meeting
94,800
6897444
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Yagishita, Naomichi
MGMT
FOR
FOR
         
Appoint a Director Ogashiwa, Hideo
MGMT
FOR
FOR
         
Appoint a Director Shimomura, Hikaru
MGMT
FOR
FOR
         
Appoint a Director Maekawa, Tadao
MGMT
FOR
FOR
         
Appoint a Director Yasuda, Hiroaki
MGMT
FOR
FOR
         
Appoint a Director Suetsuna, Takashi
MGMT
FOR
FOR
         
Appoint a Director Nakayama, Hiroshi
MGMT
FOR
FOR
         
Appoint a Director Miyama, Miya
MGMT
FOR
FOR
         
Appoint a Director Tamagawa, Takehiro
MGMT
AGAINST
AGAINST
         
Appoint a Corporate Auditor Matsui, Shinichi
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
SEDOL
Proposal
Proposed By
For/Against MGMT
 Vote
YURTEC CORPORATION
24-Jun-2021
Annual General Meeting
268,900
6894672
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Satake, Tsutomu
MGMT
AGAINST
AGAINST
         
Appoint a Director Ota, Yoshiharu
MGMT
FOR
FOR
         
Appoint a Director Kobayashi, Ikumi
MGMT
FOR
FOR
         
Appoint a Director Oikawa, Masahiro
MGMT
FOR
FOR
         
Appoint a Director Ogasawara, Tatsuji
MGMT
FOR
FOR
         
Appoint a Director Inazuma, Hidetoshi
MGMT
FOR
FOR
         
Appoint a Director Hasegawa, Hisaaki
MGMT
FOR
FOR
         
Appoint a Director Fujii, Naoki
MGMT
FOR
FOR
         
Appoint a Director Kagawa, Hiroyuki
MGMT
FOR
FOR
         
Appoint a Director Yamamoto, Shunji
MGMT
FOR
FOR
         
Appoint a Director Mitsui, Seiichi
MGMT
FOR
FOR
         
Appoint a Director Takano, Keiichi
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Sugawara, Kazunari
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Takaura, Yasunari
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Yashima, Tokuko
MGMT
FOR
FOR
         
Approve Provision of Retirement Allowance for Retiring Directors
MGMT
FOR
FOR
                 
NIHON M&A CENTER INC.
24-Jun-2021
Annual General Meeting
5,300
B1DN466
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Wakebayashi, Yasuhiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Miyake, Suguru
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Naraki, Takamaro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Otsuki, Masahiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Takeuchi, Naoki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Watanabe, Tsuneo
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kumagai, Hideyuki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Mori, Tokihiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Anna Dingley
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Takeuchi, Minako
MGMT
FOR
FOR
         
Amend Articles to: Change Official Company Name, Amend Business Lines, Approve Minor Revisions
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members)
MGMT
FOR
FOR
         
Approve Absorption-Type Company Split Agreement
MGMT
FOR
FOR
                 
AICA KOGYO COMPANY,LIMITED
24-Jun-2021
Annual General Meeting
50,300
6010047
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Ono, Yuji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Todo, Satoshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Omura, Nobuyuki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Ebihara, Kenji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Ogura, Kenji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Shimizu, Ayako
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Mori, Ryoji
MGMT
FOR
FOR
         
Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members and Outside Directors)
MGMT
FOR
FOR
                 
OSAKA STEEL CO.,LTD.
24-Jun-2021
Annual General Meeting
853,800
6662095
Appoint a Director Nomura, Taisuke
MGMT
FOR
FOR
         
Appoint a Director Fujita, Kazuo
MGMT
FOR
FOR
         
Appoint a Director Wakatsuki, Teruyuki
MGMT
FOR
FOR
         
Appoint a Director Imanaka, Kazuo
MGMT
FOR
FOR
         
Appoint a Director Osaki, Fumiaki
MGMT
FOR
FOR
         
Appoint a Director Matsuda, Hiroshi
MGMT
FOR
FOR
         
Appoint a Director Ishikawa, Hironobu
MGMT
FOR
FOR
         
Appoint a Director Matsuzawa, Shinya
MGMT
FOR
FOR
         
Appoint a Director Sato, Mitsuhiro
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Shiraishi, Hiroshi
MGMT
FOR
FOR
         
Appoint a Substitute Corporate Auditor Kishimoto, Tatsuji
MGMT
FOR
FOR
                 
TOPRE CORPORATION
24-Jun-2021
Annual General Meeting
185,900
6894928
Approve Appropriation of Surplus
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
 SEDOL
Proposal
Proposed By
For/Against MGMT
 Vote
MAKINO MILLING MACHINE CO.,LTD.
24-Jun-2021
Annual General Meeting
72,100
6555708
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Inoue, Shinichi
MGMT
FOR
FOR
         
Appoint a Director Nagano, Toshiyuki
MGMT
FOR
FOR
         
Appoint a Director Aiba, Tatsuaki
MGMT
FOR
FOR
         
Appoint a Director Yoshidome, Shin
MGMT
FOR
FOR
         
Appoint a Director Masuda, Naofumi
MGMT
FOR
FOR
         
Appoint a Director Yamazaki, Kodo
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Komura, Akio
MGMT
FOR
FOR
                 
YAMASHIN-FILTER CORP.
24-Jun-2021
Annual General Meeting
47,300
BQQD1C3
Appoint a Director who is not Audit and Supervisory Committee Member Yamazaki, Atsuhiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Ioka, Chikahisa
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yamazaki, Hiroaki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Morita, Hideaki
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Takatsuji, Naruhiko
MGMT
FOR
FOR
                 
NIPPON PILLAR PACKING CO.,LTD.
24-Jun-2021
Annual General Meeting
20,500
6641135
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Iwanami, Kiyohisa
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Iwanami, Yoshinobu
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Hoshikawa, Ikuo
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Shukunami, Katsuhiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Suzuki, Yoshinori
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Komamura, Junichi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Maruoka, Kazuhiro
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Takaya, Kazumitsu
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Kobayashi, Kyoko
MGMT
FOR
FOR
                 
THE MUSASHINO BANK,LTD.
25-Jun-2021
Annual General Meeting
160,600
6611440
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Kato, Kikuo
MGMT
FOR
FOR
         
Appoint a Director Nagahori, Kazumasa
MGMT
FOR
FOR
         
Appoint a Director Shirai, Toshiyuki
MGMT
FOR
FOR
         
Appoint a Director Kurosawa, Susumu
MGMT
FOR
FOR
         
Appoint a Director Otomo, Ken
MGMT
FOR
FOR
         
Appoint a Director Mitsuoka, Ryuichi
MGMT
FOR
FOR
         
Appoint a Director Sanada, Yukimitsu
MGMT
FOR
FOR
         
Appoint a Director Kobayashi, Ayako
MGMT
FOR
FOR
                 
THE AKITA BANK,LTD.
25-Jun-2021
Annual General Meeting
337,100
6011653
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Araya, Akihiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Tsuchiya, Masato
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Minakawa, Tsuyoshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Miura, Hiroyoshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Ashida, Kosuke
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Tsuji, Yoshiyuki
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Sakaki, Junichi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nakata, Naofumi
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Kakizaki, Tamaki
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members)
MGMT
FOR
FOR
                 
THE YAMANASHI CHUO BANK,LTD.
25-Jun-2021
Annual General Meeting
353,100
6985361
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Shindo, Nakaba
MGMT
FOR
FOR
         
Appoint a Director Seki, Mitsuyoshi
MGMT
FOR
FOR
         
Appoint a Director Furuya, Yoshiaki
MGMT
FOR
FOR
         
Appoint a Director Tanaka, Norihiko
MGMT
FOR
FOR
         
Appoint a Director Furuya, Fumihiko
MGMT
FOR
FOR
         
Appoint a Director Yamadera, Masahiko
MGMT
FOR
FOR
         
Appoint a Director Masukawa, Michio
MGMT
FOR
FOR
         
Appoint a Director Kano, Riyo
MGMT
FOR
FOR
         
Appoint a Director Ichikawa, Miki
MGMT
FOR
FOR
         
Amend Articles to: Approve Minor Revisions
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
 SEDOL
Proposal
Proposed By
For/Against MGMT
 Vote
THE BANK OF OKINAWA,LTD.
25-Jun-2021
Annual General Meeting
111,900
6657983
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Tamaki, Yoshiaki
MGMT
FOR
FOR
         
Appoint a Director Yamashiro, Masayasu
MGMT
FOR
FOR
         
Appoint a Director Kinjo, Yoshiteru
MGMT
FOR
FOR
         
Appoint a Director Iha, Kazuya
MGMT
FOR
FOR
         
Appoint a Director Takara, Shigeru
MGMT
FOR
FOR
         
Appoint a Director Sakima, Yutaka
MGMT
FOR
FOR
         
Appoint a Director Hosomi, Masahiro
MGMT
FOR
FOR
         
Appoint a Director Ando, Hirokazu
MGMT
FOR
FOR
         
Appoint a Director Toyama, Keiko
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Yamashiro, Tatsuhiko
MGMT
FOR
FOR
         
Approve Creation of a Holding Company by Stock-transfer
MGMT
FOR
FOR
         
Approve Payment of Bonuses to Corporate Officers
MGMT
AGAINST
AGAINST
                 
THE KEIYO BANK,LTD.
25-Jun-2021
Annual General Meeting
782,800
6190648
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Kumagai, Toshiyuki
MGMT
FOR
FOR
         
Appoint a Director Ichikawa, Tatsushi
MGMT
FOR
FOR
         
Appoint a Director Akiyama, Katsusada
MGMT
FOR
FOR
         
Approve Details of the Performance-based Stock Compensation to be received by Directors, etc.
MGMT
AGAINST
AGAINST
                 
SG HOLDINGS CO.,LTD.
25-Jun-2021
Annual General Meeting
29,800
BFFY885
Appoint a Director Kuriwada, Eiichi
MGMT
FOR
FOR
         
Appoint a Director Matsumoto, Hidekazu
MGMT
FOR
FOR
         
Appoint a Director Motomura, Masahide
MGMT
FOR
FOR
         
Appoint a Director Nakajima, Shunichi
MGMT
FOR
FOR
         
Appoint a Director Kawanago, Katsuhiro
MGMT
FOR
FOR
         
Appoint a Director Takaoka, Mika
MGMT
FOR
FOR
         
Appoint a Director Sagisaka, Osami
MGMT
FOR
FOR
         
Appoint a Director Akiyama, Masato
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Nakanishi, Takashi
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Tajima, Satoshi
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Okamura, Kenichiro
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Oshima, Yoshitaka
MGMT
FOR
FOR
                 
KYOEI STEEL LTD.
25-Jun-2021
Annual General Meeting
162,200
B1HHF49
Appoint a Director Takashima, Hideichiro
MGMT
FOR
FOR
         
Appoint a Director Hirotomi, Yasuyuki
MGMT
FOR
FOR
         
Appoint a Director Sakamoto, Shogo
MGMT
FOR
FOR
         
Appoint a Director Kunimaru, Hiroshi
MGMT
FOR
FOR
         
Appoint a Director Kitada, Masahiro
MGMT
FOR
FOR
         
Appoint a Director Yamao, Tetsuya
MGMT
FOR
FOR
         
Appoint a Director Kawabe, Tatsuya
MGMT
FOR
FOR
         
Appoint a Director Yamamoto, Takehiko
MGMT
FOR
FOR
         
Appoint a Director Kawai, Kenji
MGMT
FOR
FOR
         
Appoint a Director Funato, Kimiko
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Maeda, Toyoji
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Ando, Masanori
MGMT
AGAINST
AGAINST
                 
THE TAIKO BANK,LTD.
25-Jun-2021
Annual General Meeting
226,200
6871493
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Koide, Tetsuhiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Ishida, Yukio
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Tawaragi, Minoru
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kawai, Shoichi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Suzuki, Hiroyuki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nishiyama, Katsuyoshi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Yamaguchi, Tomoyasu
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Hosokai, Iwao
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Watanabe, Takashi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Sakai, Keiji
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Nakamura, Chieko
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
SEDOL
 Proposal
Proposed By
For/Against MGMT
 Vote
MATCHING SERVICE JAPAN CO.,LTD.
25-Jun-2021
Annual General Meeting
35,800
BZ19ZZ0
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Arimoto, Takahiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Fujie, Mayuki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yamamoto, Taku
MGMT
FOR
FOR
         
Amend Articles to: Amend Business Lines
MGMT
FOR
FOR
                 
ASIA PILE HOLDINGS CORPORATION
25-Jun-2021
Annual General Meeting
631,900
B06D3N6
Appoint a Director Kurose, Akira
MGMT
AGAINST
AGAINST
         
Appoint a Director Kurose, Shusuke
MGMT
FOR
FOR
         
Appoint a Director Kotera, Koji
MGMT
FOR
FOR
         
Appoint a Director Baba, Osami
MGMT
FOR
FOR
         
Appoint a Director Okoshi, Masahiko
MGMT
FOR
FOR
         
Appoint a Director Shigematsu, Toru
MGMT
FOR
FOR
         
Appoint a Director Okuyama, Kazunori
MGMT
FOR
FOR
         
Appoint a Director Phan Khac Long
MGMT
FOR
FOR
         
Appoint a Director Watanabe, Akira
MGMT
FOR
FOR
         
Appoint a Director Shiraga, Yohei
MGMT
AGAINST
AGAINST
         
Appoint a Director Kamimae, Osamu
MGMT
FOR
FOR
                 
MORY INDUSTRIES INC.
25-Jun-2021
Annual General Meeting
58,900
6602541
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Mori, Hiroaki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Asano, Hiroaki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nakanishi, Masato
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Motoyama, Koichi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Hamasaki, Sadanobu
MGMT
FOR
FOR
         
Approve Provision of Retirement Allowance for Retiring Directors (Excluding Directors who are Audit and Supervisory Committee Members)
MGMT
AGAINST
AGAINST
                 
AOI ELECTRONICS CO.,LTD.
25-Jun-2021
Annual General Meeting
41,200
4272333
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nakayama, Koji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kinoshita, Kazuhiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Okada, Yoshio
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Saeki, Norio
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Fukuda, Kazuyuki
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Furuta, Akihiro
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Moriito, Shigeki
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Fujime, Nobuyuki
MGMT
AGAINST
AGAINST
         
Appoint a Director who is Audit and Supervisory Committee Member Kitayama, Noboru
MGMT
FOR
FOR
                 
CHUBU STEEL PLATE CO.,LTD.
25-Jun-2021
Annual General Meeting
116,800
6195739
Approve Appropriation of Surplus
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Shigematsu, Kumio
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Teramoto, Hitoshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Shibata, Koji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Komura, Shinji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Matsuda, Susumu
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Miyahana, Hideki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Hirano, Takahiro
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Kobayashi, Hiroya
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Nomura, Yasuhiro
MGMT
AGAINST
AGAINST
         
Appoint a Director who is Audit and Supervisory Committee Member Nishigaki, Makoto
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Iwata, Hiroko
MGMT
FOR
FOR
         
Amend Articles to: Increase the Board of Directors Size, Adopt Reduction of Liability System for Directors, Transition to a Company with Supervisory Committee
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members)
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors who are Audit and Supervisory Committee Members
MGMT
FOR
FOR
         
Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members and Outside Directors)
MGMT
FOR
FOR
         
Approve Continuance of Policy regarding Large-scale Purchases of Company Shares (Anti-Takeover Defense Measures)
MGMT
AGAINST
AGAINST

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
 SEDOL
Proposal
Proposed By
For/Against MGMT
 Vote
TOENEC CORPORATION
25-Jun-2021
Annual General Meeting
70,000
6895620
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Takagi, Isao
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Takimoto, Tsuguhisa
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nishiwaki, Tetsuya
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Hirata, Koji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Fujita, Yuzo
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Horiuchi, Yasuhiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Mizuno, Asayuki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Iizuka, Atsushi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Inagaki, Takashi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yoshikawa, Naotoshi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Kimura, Masahiko
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Shibata, Mitsuaki
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Sugita, Katsuhiko
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Suzuki, Kenichi
MGMT
AGAINST
AGAINST
         
Amend Articles to: Increase the Board of Directors Size, Transition to a Company with Supervisory Committee
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members)
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors who are Audit and Supervisory Committee Members
MGMT
FOR
FOR
                 
SEKISUI JUSHI CORPORATION
25-Jun-2021
Annual General Meeting
198,000
6793843
Appoint a Director Fukui, Yaichiro
MGMT
FOR
FOR
         
Appoint a Director Baba, Hiroshi
MGMT
FOR
FOR
         
Appoint a Director Wakui, Shiro
MGMT
AGAINST
AGAINST
         
Appoint a Director Takano, Hiroshi
MGMT
FOR
FOR
         
Appoint a Director Ito, Satoko
MGMT
FOR
FOR
         
Appoint a Director Shibanuma, Yutaka
MGMT
FOR
FOR
         
Appoint a Director Sasaki, Katsuyoshi
MGMT
FOR
FOR
         
Appoint a Director Kikuchi, Tomoyuki
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Tada, Akihito
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Taketomo, Hiroyuki
MGMT
AGAINST
AGAINST
                 
GODO STEEL,LTD.
25-Jun-2021
Annual General Meeting
120,700
6374345
Appoint a Director Uchida, Hiroyuki
MGMT
FOR
FOR
         
Appoint a Director Yamazaki, Teruo
MGMT
FOR
FOR
         
Appoint a Director Muraki, Masanori
MGMT
FOR
FOR
         
Appoint a Director Nishinaka, Katsura
MGMT
FOR
FOR
         
Appoint a Director Shinomiya, Akio
MGMT
FOR
FOR
         
Appoint a Director Sakata, Teiichi
MGMT
FOR
FOR
         
Appoint a Director Tsuchiya, Mitsuaki
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Sukegawa, Yasuhiro
MGMT
AGAINST
AGAINST
                 
NETUREN CO.,LTD.
25-Jun-2021
Annual General Meeting
611,500
6629540
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Omiya, Katsumi
MGMT
FOR
FOR
         
Appoint a Director Ishiki, Nobumoto
MGMT
FOR
FOR
         
Appoint a Director Suzuki, Takashi
MGMT
FOR
FOR
         
Appoint a Director Yasukawa, Tomokatsu
MGMT
FOR
FOR
         
Appoint a Director Teraura, Yasuko
MGMT
FOR
FOR
         
Appoint a Director Hanai, Mineo
MGMT
FOR
FOR
         
Appoint a Substitute Corporate Auditor Takahashi, Daisuke
MGMT
FOR
FOR
                 
SHINKO ELECTRIC INDUSTRIES CO.,LTD.
25-Jun-2021
Annual General Meeting
10,900
6804927
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Fujita, Masami
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kurashima, Susumu
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Makino, Yasuhisa
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Ozawa, Takashi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Niimi, Jun
MGMT
FOR
FOR
         
Approve Payment of Bonuses to Corporate Officers
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
 SEDOL
Proposal
Proposed By
For/Against MGMT
 Vote
SHIN-ETSU POLYMER CO.,LTD.
25-Jun-2021
Annual General Meeting
76,400
6805704
Approve Appropriation of Surplus
MGMT
AGAINST
AGAINST
         
Appoint a Director Ono, Yoshiaki
MGMT
FOR
FOR
         
Appoint a Director Deto, Toshiaki
MGMT
FOR
FOR
         
Appoint a Director Takayama, Toru
MGMT
FOR
FOR
         
Appoint a Director Todoroki, Shigemichi
MGMT
FOR
FOR
         
Appoint a Director Miyashita, Osamu
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Miyazaki, Morio
MGMT
AGAINST
AGAINST
         
Appoint a Corporate Auditor Hirasawa, Hideaki
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Yoshihara, Tatsuo
MGMT
FOR
FOR
         
Appoint Accounting Auditors
MGMT
FOR
FOR
         
Approve Delegation of Authority to the Board of Directors to Determine Details of Share Acquisition Rights Issued as Stock Options for Executive Officers and Employees of the Company and Directors of the Company's Subsidiaries
MGMT
FOR
FOR
                 
SUNDRUG CO.,LTD.
26-Jun-2021
Annual General Meeting
34,700
6817895
Approve Appropriation of Surplus
MGMT
FOR
FOR
                 
RICOH LEASING COMPANY,LTD.
28-Jun-2021
Annual General Meeting
115,700
6729116
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Substitute Director who is Audit and Supervisory Committee Member Ikeda, Koichiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nakamura, Tokuharu
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Sano, Hirozumi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kuroki, Shinichi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Seto, Kaoru
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Futamiya, Masaya
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Arakawa, Masako
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Ebisui, Mari
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Harasawa, Atsumi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Uesugi, Keiichiro
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Nagamine, Hiroshi
MGMT
AGAINST
AGAINST
                 
C.UYEMURA & CO.,LTD.
29-Jun-2021
Annual General Meeting
52,500
6089014
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Uemura, Hiroya
MGMT
FOR
FOR
         
Appoint a Director Hashimoto, Shigeo
MGMT
FOR
FOR
         
Appoint a Director Sakabe, Shigeo
MGMT
FOR
FOR
         
Appoint a Director Shimada, Koji
MGMT
FOR
FOR
         
Appoint a Director Sekiya, Tsutomu
MGMT
FOR
FOR
         
Appoint a Director Otake, Hiroshi
MGMT
FOR
FOR
         
Appoint a Director Takahashi, Akihiko
MGMT
FOR
FOR
         
Appoint a Director Aketa, Yoshiki
MGMT
FOR
FOR
         
Appoint a Director Nishimoto, Kaori
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Inose, Shinji
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Kameoka, Tsuyoshi
MGMT
AGAINST
AGAINST
         
Appoint a Corporate Auditor Iijima, Toru
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors
MGMT
AGAINST
AGAINST
         
Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Outside Directors)
MGMT
AGAINST
AGAINST
         
Approve Payment of Accrued Benefits associated with Abolition of Retirement Benefit System for Current Corporate Officers
MGMT
AGAINST
AGAINST

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
SEDOL
Proposal
Proposed By
For/Against MGMT
Vote
MEIKO TRANS CO.,LTD.
29-Jun-2021
Annual General Meeting
326,000
6575944
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Takahashi, Jiro
MGMT
AGAINST
AGAINST
         
Appoint a Director Fujimori, Toshio
MGMT
FOR
FOR
         
Appoint a Director Takahashi, Hiroshi
MGMT
AGAINST
AGAINST
         
Appoint a Director Kanii, Osamu
MGMT
FOR
FOR
         
Appoint a Director Nonobe, Hiroshi
MGMT
FOR
FOR
         
Appoint a Director Kakehashi, Eiichiro
MGMT
FOR
FOR
         
Appoint a Director Hiramatsu, Yasunaga
MGMT
FOR
FOR
         
Appoint a Director Karube, Jun
MGMT
FOR
FOR
         
Appoint a Director Oyama, Shinji
MGMT
FOR
FOR
         
Appoint a Director Yamaji, Masahiro
MGMT
FOR
FOR
         
Appoint a Director Suzuki, Hirofumi
MGMT
FOR
FOR
         
Appoint a Director Yamaguchi, Atsushi
MGMT
FOR
FOR
         
Appoint a Director Mitani, Masayoshi
MGMT
FOR
FOR
         
Appoint a Director Mizutani, Yoshinari
MGMT
FOR
FOR
         
Appoint a Director Inagaki, Takashi
MGMT
FOR
FOR
         
Appoint a Director Ogura, Tadashi
MGMT
FOR
FOR
         
Appoint a Director Yokoi, Isamu
MGMT
FOR
FOR
         
Appoint a Director Hayashi, Hideki
MGMT
FOR
FOR
         
Appoint a Director Kuroda, Mitsuhiro
MGMT
FOR
FOR
         
Appoint a Director Suzuki, Satoshi
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Osugi, Makoto
MGMT
AGAINST
AGAINST
         
Amend Articles to: Amend Business Lines
MGMT
FOR
FOR
                 
NICHIA STEEL WORKS,LTD.
29-Jun-2021
Annual General Meeting
1,867,000
6638160
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Substitute Director Hanafusa, Hiroshi
MGMT
AGAINST
AGAINST
         
Appoint a Director Onishi, Toshinori
MGMT
AGAINST
AGAINST
         
Appoint a Director Kunimine, Jun
MGMT
FOR
FOR
         
Appoint a Director Terakawa, Naoki
MGMT
FOR
FOR
         
Appoint a Director Takama, Toshio
MGMT
FOR
FOR
         
Appoint a Director Okigaki, Yoshihiro
MGMT
FOR
FOR
         
Appoint a Director Gotoda, Hideaki
MGMT
FOR
FOR
         
Appoint a Director Tanaka, Fumitake
MGMT
FOR
FOR
         
Appoint a Director Nakatani, Yoshiro
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Michimori, Takehiko
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Sonoda, Hiroto
MGMT
AGAINST
AGAINST
         
Approve Provision of Retirement Allowance for Retiring Corporate Officers
MGMT
AGAINST
AGAINST
         
Appoint a Substitute Corporate Auditor Kitabatake, Shoji
MGMT
AGAINST
AGAINST
                 
STARTS CORPORATION INC.
29-Jun-2021
Annual General Meeting
55,500
6841913
Appoint a Director Muraishi, Hisaji
MGMT
AGAINST
AGAINST
         
Appoint a Director Isozaki, Kazuo
MGMT
AGAINST
AGAINST
         
Appoint a Director Muraishi, Toyotaka
MGMT
FOR
FOR
         
Appoint a Director Saito, Taroo
MGMT
FOR
FOR
         
Appoint a Director Naoi, Hideyuki
MGMT
FOR
FOR
         
Appoint a Director Nakamatsu, Manabu
MGMT
FOR
FOR
         
Appoint a Director Yamazaki, Chisato
MGMT
FOR
FOR
         
Appoint a Director Naoi, Tamotsu
MGMT
FOR
FOR
         
Appoint a Director Hasegawa, Takahiro
MGMT
FOR
FOR
         
Appoint a Director Muramatsu, Hisayuki
MGMT
FOR
FOR
         
Appoint a Director Hironaka, Yoshimichi
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
 SEDOL
Proposal
Proposed By
For/Against MGMT
 Vote
YONDENKO CORPORATION
29-Jun-2021
Annual General Meeting
70,500
6804433
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Sekiya, Yukio
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Suehiro, Kenji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Furukawa, Toshifumi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yamasaki, Naoki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nakagawa, Takashi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yamamoto, Yoshiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yanagawa, Yoshihisa
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Takahashi, Ryo
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Usuki, Akihiko
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Shirai, Hisashi
MGMT
AGAINST
AGAINST
         
Appoint a Director who is Audit and Supervisory Committee Member Kawahara, Hiroshi
MGMT
AGAINST
AGAINST
         
Appoint a Director who is Audit and Supervisory Committee Member Moriito, Shigeki
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Manabe, Yoko
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Okabayashi, Masafumi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Sano, Tadashi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Hashikura, Soroku
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Hirano, Miki
MGMT
FOR
FOR
         
Amend Articles to: Increase the Board of Directors Size, Adopt Reduction of Liability System for Directors, Transition to a Company with Supervisory Committee
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members)
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors who are Audit and Supervisory Committee Members
MGMT
FOR
FOR
         
Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members)
MGMT
FOR
FOR
                 
KANDENKO CO.,LTD.
29-Jun-2021
Annual General Meeting
579,700
6483586
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Yamaguchi, Hiroshi
MGMT
FOR
FOR
         
Appoint a Director Nakama, Toshio
MGMT
FOR
FOR
         
Appoint a Director Kashiwabara, Shoichiro
MGMT
FOR
FOR
         
Appoint a Director Ueda, Yuji
MGMT
FOR
FOR
         
Appoint a Director Miyauchi, Shinichi
MGMT
FOR
FOR
         
Appoint a Director Tsuru, Koji
MGMT
FOR
FOR
         
Appoint a Director Iida, Nobuhiro
MGMT
FOR
FOR
         
Appoint a Director Sugizaki, Hitoshi
MGMT
FOR
FOR
         
Appoint a Director Fujii, Mitsuru
MGMT
FOR
FOR
         
Appoint a Director Takahashi, Shinji
MGMT
FOR
FOR
         
Appoint a Director Nakahito, Koichi
MGMT
FOR
FOR
         
Appoint a Director Uchino, Takashi
MGMT
FOR
FOR
         
Appoint a Director Saito, Hajime
MGMT
FOR
FOR
         
Appoint a Director Ando, Miwako
MGMT
FOR
FOR
         
Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Outside Directors)
MGMT
FOR
FOR
         
Approve Payment of Bonuses to Directors
MGMT
AGAINST
AGAINST
                 
NIPPON SHINYAKU CO.,LTD.
29-Jun-2021
Annual General Meeting
30,200
4234225
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Maekawa, Shigenobu
MGMT
FOR
FOR
         
Appoint a Director Sano, Shozo
MGMT
FOR
FOR
         
Appoint a Director Takaya, Takashi
MGMT
FOR
FOR
         
Appoint a Director Edamitsu, Takanori
MGMT
FOR
FOR
         
Appoint a Director Nakai, Toru
MGMT
FOR
FOR
         
Appoint a Director Takagaki, Kazuchika
MGMT
FOR
FOR
         
Appoint a Director Ishizawa, Hitoshi
MGMT
FOR
FOR
         
Appoint a Director Kimura, Hitomi
MGMT
FOR
FOR
         
Appoint a Director Sugiura, Yukio
MGMT
FOR
FOR
         
Appoint a Director Sakurai, Miyuki
MGMT
FOR
FOR
         
Appoint a Director Wada, Yoshinao
MGMT
FOR
FOR
         
Appoint a Director Kobayashi, Yukari
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
 SEDOL
Proposal
Proposed By
For/Against MGMT
 Vote
OBIC CO.,LTD.
29-Jun-2021
Annual General Meeting
7,100
6136749
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Noda, Masahiro
MGMT
FOR
FOR
         
Appoint a Director Tachibana, Shoichi
MGMT
FOR
FOR
         
Appoint a Director Kawanishi, Atsushi
MGMT
FOR
FOR
         
Appoint a Director Fujimoto, Takao
MGMT
FOR
FOR
         
Appoint a Director Gomi, Yasumasa
MGMT
FOR
FOR
         
Appoint a Director Ejiri, Takashi
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Koyamachi, Akira
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Tanaka, Takeo
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Yamada, Shigetsugu
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors
MGMT
FOR
FOR
                 
RINNAI CORPORATION
29-Jun-2021
Annual General Meeting
14,400
6740582
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Hayashi, Kenji
MGMT
FOR
FOR
         
Appoint a Director Naito, Hiroyasu
MGMT
FOR
FOR
         
Appoint a Director Narita, Tsunenori
MGMT
FOR
FOR
         
Appoint a Director Matsui, Nobuyuki
MGMT
FOR
FOR
         
Appoint a Director Kamio, Takashi
MGMT
FOR
FOR
         
Approve Details of the Compensation to be received by Directors, and Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Outside Directors)
MGMT
FOR
FOR
         
Appoint a Substitute Corporate Auditor Ishikawa, Yoshiro
MGMT
FOR
FOR
                 
MIURA CO.,LTD.
29-Jun-2021
Annual General Meeting
5,800
6597777
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Takahashi, Yuji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Miyauchi, Daisuke
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Takechi, Noriyuki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Ochi, Yasuo
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kojima, Yoshihiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yoneda, Tsuyoshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Hiroi, Masayuki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Higuchi, Tateshi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Harada, Toshihide
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Saiki, Naoki
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Ando, Yoshiaki
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Koike, Tatsuko
MGMT
FOR
FOR
         
Amend Articles to: Amend Business Lines
MGMT
FOR
FOR
                 
MAXELL HOLDINGS,LTD.
29-Jun-2021
Annual General Meeting
62,200
5726389
Appoint a Director who is not Audit and Supervisory Committee Member Brian K. Heywood
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Murase, Sachiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nakamura, Keiji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Katsuta, Yoshiharu
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Sumoto, Seiji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Masuda, Noritoshi
MGMT
FOR
FOR
         
Amend Articles to: Change Official Company Name, Amend Business Lines
MGMT
FOR
FOR
                 
SHINDENGEN ELECTRIC MANUFACTURING CO.,LTD.
29-Jun-2021
Annual General Meeting
9,300
6804541
Appoint a Director Suzuki, Yoshinori
MGMT
FOR
FOR
         
Appoint a Director Negishi, Yasumi
MGMT
FOR
FOR
         
Appoint a Director Horiguchi, Kenji
MGMT
FOR
FOR
         
Appoint a Director Tanaka, Nobuyoshi
MGMT
FOR
FOR
         
Appoint a Director Yamada, Ichiro
MGMT
FOR
FOR
         
Appoint a Director Hashimoto, Hideyuki
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Nihei, Harusato
MGMT
AGAINST
AGAINST
         
Appoint a Corporate Auditor Tsuji, Sachie
MGMT
FOR
FOR
         
Amend Articles to: Approve Minor Revisions
MGMT
FOR
FOR
         
Appoint a Substitute Corporate Auditor Chiba, Shoji
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
SEDOL
Proposal
Proposed By
For/Against MGMT
 Vote
TEIKOKU ELECTRIC MFG. CO.,LTD.
29-Jun-2021
Annual General Meeting
58,200
6155829
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Koroyasu, Yoshihiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Funahashi, Masaharu
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Murata, Kiyoshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Sato, Tetsuzo
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kagen, Takashi
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Abe, Takashi
MGMT
FOR
FOR
                 
FUJIKURA KASEI CO.,LTD.
29-Jun-2021
Annual General Meeting
1,357,000
6356729
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Substitute Director who is Audit and Supervisory Committee Member Miyagawa, Hiroshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kato, Daisuke
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Watanabe, Hiroaki
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kajiwara, Hisashi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Takano, Masahiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Watanabe, Satoshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kawaguchi, Hitoshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kurihara, Susumu
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Tanaka, Osamu
MGMT
AGAINST
AGAINST
         
Appoint a Director who is not Audit and Supervisory Committee Member Nagahama, Yoichi
MGMT
AGAINST
AGAINST
         
Appoint a Director who is Audit and Supervisory Committee Member Shimoda, Yoshizo
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Naka, Mitsuyoshi
MGMT
AGAINST
AGAINST
         
Appoint a Director who is Audit and Supervisory Committee Member Watanabe, Takashi
MGMT
AGAINST
AGAINST
                 
THE OKINAWA ELECTRIC POWER COMPANY,INCORPORATED
29-Jun-2021
Annual General Meeting
180,590
6658050
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Omine, Mitsuru
MGMT
FOR
FOR
         
Appoint a Director Motonaga, Hiroyuki
MGMT
FOR
FOR
         
Appoint a Director Shimabukuro, Kiyohito
MGMT
FOR
FOR
         
Appoint a Director Narisoko, Hayato
MGMT
FOR
FOR
         
Appoint a Director Yokoda, Tetsu
MGMT
FOR
FOR
         
Appoint a Director Uema, Jun
MGMT
FOR
FOR
         
Appoint a Director Nakamura, Naomasa
MGMT
FOR
FOR
         
Appoint a Director Nakahodo, Hiraku
MGMT
FOR
FOR
         
Appoint a Director Okada, Akira
MGMT
FOR
FOR
         
Appoint a Director Yuasa, Hideo
MGMT
FOR
FOR
         
Appoint a Director Yogi, Tatsuki
MGMT
FOR
FOR
         
Appoint a Director Nozaki, Seiko
MGMT
FOR
FOR
         
Approve Adoption of the Performance-based Stock Compensation to be received by Directors
MGMT
FOR
FOR
         
Approve Payment of Bonuses to Directors
MGMT
FOR
FOR
                 
KAMIGUMI CO.,LTD.
29-Jun-2021
Annual General Meeting
77,800
5754409
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director Kubo, Masami
MGMT
FOR
FOR
         
Appoint a Director Fukai, Yoshihiro
MGMT
FOR
FOR
         
Appoint a Director Tahara, Norihito
MGMT
FOR
FOR
         
Appoint a Director Horiuchi, Toshihiro
MGMT
FOR
FOR
         
Appoint a Director Murakami, Katsumi
MGMT
FOR
FOR
         
Appoint a Director Hiramatsu, Koichi
MGMT
FOR
FOR
         
Appoint a Director Nagata, Yukihiro
MGMT
FOR
FOR
         
Appoint a Director Shiino, Kazuhisa
MGMT
FOR
FOR
         
Appoint a Director Ishibashi, Nobuko
MGMT
FOR
FOR
         
Appoint a Director Suzuki, Mitsuo
MGMT
FOR
FOR
         
Appoint a Corporate Auditor Kuroda, Ai
MGMT
FOR
FOR
         
Appoint a Substitute Corporate Auditor Saeki, Kuniharu
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2020 TO JUNE 30, 2021
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
SEDOL
 Proposal
Proposed By
For/Against MGMT
 Vote
TENMA CORPORATION
29-Jun-2021
Annual General Meeting
86,300
6884231
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Hirono, Hirohiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nagai, Yuichi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Noritake, Masaru
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Hoshi, Kenichi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Hayashi, Shiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kurahashi, Hirofumi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Matsuyama, Shoji
MGMT
FOR
FOR
         
Appoint a Director who is Audit and Supervisory Committee Member Kataoka, Yoshimasa
MGMT
AGAINST
AGAINST
         
Appoint a Director who is Audit and Supervisory Committee Member Kitano, Jiro
MGMT
AGAINST
AGAINST
         
Appoint a Director who is Audit and Supervisory Committee Member Sakai, Ichiro
MGMT
AGAINST
AGAINST
         
Shareholder Proposal: Appoint a Director who is not Audit and Supervisory Committee Member Ajimura, Takashi
SHAREHOLDER
AGAINST
FOR
         
Shareholder Proposal: Appoint a Director who is not Audit and Supervisory Committee Member Fujiyama, Kuniko
SHAREHOLDER
FOR
AGAINST
         
Shareholder Proposal: Appoint a Director who is Audit and Supervisory Committee Member Hara, Kazuhiko
SHAREHOLDER
AGAINST
FOR
         
Shareholder Proposal: Appoint a Director who is Audit and Supervisory Committee Member Goto, Hirotaka
SHAREHOLDER
AGAINST
FOR
         
Shareholder Proposal: Appoint a Director who is Audit and Supervisory Committee Member Nishida, Miyo
SHAREHOLDER
AGAINST
FOR
         
Shareholder Proposal: Appoint a Director who is not Audit and Supervisory Committee Member Kondo, Noriko
SHAREHOLDER
FOR
AGAINST
                 
FUKUOKA FINANCIAL GROUP,INC.
29-Jun-2021
Annual General Meeting
103,600
B1TK1Y8
Approve Appropriation of Surplus
MGMT
FOR
FOR
         
Appoint a Substitute Director who is Audit and Supervisory Committee Member Shimeno, Yoshitaka
MGMT
FOR
FOR
         
Appoint a Substitute Director who is Audit and Supervisory Committee Member Miura, Masamichi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Shibato, Takashige
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yoshida, Yasuhiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Goto, Hisashi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Miyoshi, Hiroshi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Nomura, Toshimi
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Mori, Takujiro
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Yokota, Koji
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Fukasawa, Masahiko
MGMT
FOR
FOR
         
Appoint a Director who is not Audit and Supervisory Committee Member Kosugi, Toshiya
MGMT
FOR
FOR

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

JAPAN SMALLER CAPITALIZATION FUND, INC.
 
By: /s/ Mr. Yuichi Nomoto
 
Name: Mr. Yuichi Nomoto
President, Principal Executive Officer
 
Date: August 9, 2021