THE JAPAN EQUITY FUND, INC.
INVESTMENT ADVISER
CERTIFICATION

I, Kazuhiko Hosaka, Senior Portfolio Manager of Daiwa SB
Investments Ltd. (the "Adviser"), certify to the best of my
knowledge that:

1.  I am responsible for providing The Japan Equity Fund,
Inc. (the "Fund") with certain information identified in the
N-CSR report that is attached as Schedule A hereto, which
information I understand is used by the Fund in compiling its
financial statements and preparing its annual and semi-annual
reports.

2.  Such information is generated through the use of
practices and procedures that are widely accepted in the
investment management industry and have a sound basis in
investment management fundamentals.  The information is
provided to the Fund only after sufficient due diligence has
been conducted.

3.  I am further responsible for establishing and maintaining
disclosure controls and procedures for the Adviser, such
disclosure controls and procedures have been designed to
ensure that the information identified in the schedule is
made known to me, and I have evaluated the effectiveness of
the Adviser's disclosure controls and procedures within 90
days prior to the filing date of the Report.




Dated: December 19, 2003




/s/ Kazuhiko Hosaka
Kazuhiko Hosaka
Senior Portfolio Manager






NYA 614332.3