N-PX 1 brhc20057769_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, 309 West 49th
Street, New York, New York
10019
 
(Address of principal executive offices) 
(Zip code)
 
Mr. Yuichi Nomoto
Worldwide Plaza
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, 2022 – June 30, 2023

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
SEDOL
  
Proposal
Proposed By
For/Against
MGMT
Vote
                   
COSMOS PHARMACEUTICAL CORPORATION
23-Aug-2022
Annual General Meeting
13,700
B036QP1
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Approve Minor Revisions Related to Change of Laws and Regulations, Allow the Board of Directors to Authorize Appropriation of Surplus and Purchase Own Shares, Establish the Articles Related to Shareholders Meeting Held without Specifying a Venue
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Uno, Masateru
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Yokoyama, Hideaki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Shibata, Futoshi
MGMT
FOR
FOR
           
Appoint a Substitute Director who is Audit and Supervisory Committee Member Ueta, Masao
MGMT
FOR
FOR
                   
DAIKOKUTENBUSSAN CO.,LTD.
24-Aug-2022
Annual General Meeting
1,800
6713186
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Approve Minor Revisions Related to Change of Laws and Regulations
MGMT
FOR
FOR
           
Appoint a Director Oga, Shoji
MGMT
AGAINST
AGAINST
           
Appoint a Director Oga, Masahiko
MGMT
FOR
FOR
           
Appoint a Director Omura, Masashi
MGMT
FOR
FOR
           
Appoint a Director Kawada, Tomohiro
MGMT
FOR
FOR
           
Appoint a Director Fujikawa, Atsushi
MGMT
FOR
FOR
           
Appoint a Director Namba, Yoichi
MGMT
FOR
FOR
           
Appoint a Director Inoue, Hiroshi
MGMT
FOR
FOR
           
Appoint a Director Noda, Naoki
MGMT
FOR
FOR
           
Appoint a Director Fukuda, Masahiko
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Kuwahara, Kazunari
MGMT
FOR
FOR
                   
CREATE SD HOLDINGS CO.,LTD.
26-Aug-2022
Annual General Meeting
157,300
B3V2XQ2
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Approve Minor Revisions Related to Change of Laws and Regulations
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 Nakaura, Shigeto
MGMT
FOR
FOR
           
Appoint a Substitute Director who is Audit and Supervisory Committee Member Harada, Takafumi
MGMT
FOR
FOR
                   
SHINPO CO.,LTD.
27-Sep-2022
Annual General Meeting
2,300
6864493
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Approve Minor Revisions Related to Change of Laws and Regulations
MGMT
FOR
FOR
           
Appoint Accounting Auditors
MGMT
FOR
FOR
                   
PAN PACIFIC INTERNATIONAL HOLDINGS CORPORATION
28-Sep-2022
Annual General Meeting
61,900
5767753
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Approve Minor Revisions Related to Change of Laws and Regulations
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 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 Moriya, Hideki
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 Shimizu, Keita
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Ninomiya, Hitomi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kubo, Isao
MGMT
FOR
FOR
           
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 Yoshimura, Yasunori
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Kamo, Masaharu
MGMT
FOR
FOR
                   
JM HOLDINGS CO.,LTD.
24-Oct-2022
Annual General Meeting
443,500
BYM6DQ0
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Approve Minor Revisions Related to Change of Laws and Regulations
MGMT
FOR
FOR
           
Appoint a Director Matsui, Shigetada
MGMT
FOR
FOR
                   
STEP CO.,LTD.
17-Dec-2022
Annual General Meeting
164,900
6791999
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Approve Minor Revisions Related to Change of Laws and Regulations
MGMT
FOR
FOR
           
Appoint a Director Tatsui, Kyoji
MGMT
FOR
FOR
           
Appoint a Director Endo, Yosuke
MGMT
FOR
FOR
           
Appoint a Director Arai, Noriaki
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
FOR
FOR
           
Appoint a Director Asano, Tatsuru
MGMT
FOR
FOR
           
Appoint a Director Nakano, Towada
MGMT
FOR
FOR
           
Approve Details of the Restricted-Stock Compensation to be received by Directors
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
  SEDOL   Proposal
Proposed By
For/Against
MGMT
Vote
NISHIO RENT ALL CO.,LTD.
20-Dec-2022
Annual General Meeting
161,000
6638320
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Approve Absorption-Type Company Split Agreement
MGMT
FOR
FOR
           
Amend Articles to: Approve Minor Revisions Related to Change of Laws and Regulations, Amend Official Company Name, Amend Business Lines
MGMT
FOR
FOR
           
Appoint a Director Nishio, Masashi
MGMT
AGAINST
AGAINST
           
Appoint a Director Tonomura, Yoshihiro
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 Seo, Shinichi
MGMT
FOR
FOR
           
Appoint a Director Shimanaka, Tetsumi
MGMT
AGAINST
AGAINST
           
Appoint a Director Nosaka, Hiromi
MGMT
FOR
FOR
           
Appoint a Director Nakakoji, Kumiyo
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Morita, Koichi
MGMT
FOR
FOR
                   
KANAMOTO CO.,LTD.
26-Jan-2023
Annual General Meeting
179,000
6482903
  
Amend Articles to: Approve Minor Revisions Related to Change of Laws and Regulations, Adopt Reduction of Liability System for Corporate Officers
MGMT
FOR
FOR
           
Appoint a Director Kanamoto, Kanchu
MGMT
FOR
FOR
           
Appoint a Director Kanamoto, Tetsuo
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
           
Appoint a Corporate Auditor Kanamoto, Eichu
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Yokota, Naoyuki
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Ikushima, Noriaki
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Takeuchi, Iwao
MGMT
FOR
FOR
                   
HI-LEX CORPORATION
28-Jan-2023
Annual General Meeting
432,800
6643476
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Approve Minor Revisions Related to Change of Laws and Regulations, Adopt Reduction of Liability System for Corporate Officers, Approve Minor Revisions
MGMT
FOR
FOR
           
Appoint a Director Teraura, Taro
MGMT
AGAINST
AGAINST
           
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
           
Approve Continuance of Policy regarding Large-scale Purchases of Company Shares (Anti-Takeover Defense Measures)
MGMT
AGAINST
AGAINST
                   
NICHIRIN CO.,LTD.
28-Mar-2023
Annual General Meeting
109,900
6037080
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Maeda, Ryuichi
MGMT
FOR
FOR
           
Appoint a Director Soga, Hiroyuki
MGMT
FOR
FOR
           
Appoint a Director Taniguchi, Toshikazu
MGMT
FOR
FOR
           
Appoint a Director Kikumoto, Hideki
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
                   
THE PACK CORPORATION
28-Mar-2023
Annual General Meeting
178,900
6887821
  
Approve Appropriation of Surplus
MGMT
AGAINST
AGAINST
           
Appoint a Director Yamashita, Hideaki
MGMT
FOR
FOR
           
Appoint a Director Takinoue, Teruo
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 Ito, Haruyasu
MGMT
FOR
FOR
           
Appoint a Director Hayashi, Hirofumi
MGMT
FOR
FOR
           
Appoint a Director Nishio, Uichiro
MGMT
FOR
FOR
           
Appoint a Director Kasahara, Kahoru
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Nakamura, Shuichi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Iwase, Norimasa
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
SEDOL
  
Proposal
Proposed By
For/Against
MGMT
Vote
SAKATA INX CORPORATION
29-Mar-2023
Annual General Meeting
761,300
6769833
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Ueno, Yoshiaki
MGMT
FOR
FOR
           
Appoint a Director Nakamura, Hitoshi
MGMT
FOR
FOR
           
Appoint a Director Fukunaga, Toshihiko
MGMT
FOR
FOR
           
Appoint a Director Morita, Hiroshi
MGMT
FOR
FOR
           
Appoint a Director Tateiri, Minoru
MGMT
FOR
FOR
           
Appoint a Director Sato, Yoshio
MGMT
FOR
FOR
           
Appoint a Director Tsujimoto, Yukiko
MGMT
FOR
FOR
           
Appoint a Director Otsuki, Kazuko
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Matsuo, Haruhiko
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Iwasaki, Masami
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Kubota, Koji
MGMT
FOR
FOR
                   
SHIKOKU KASEI HOLDINGS CORPORATION
29-Mar-2023
Annual General Meeting
243,500
6804303
  
Appoint a Director Watanabe, Mitsunori
MGMT
AGAINST
AGAINST
           
Appoint a Director Matsubara, Jun
MGMT
FOR
FOR
           
Appoint a Director Manabe, Yoshinori
MGMT
FOR
FOR
           
Appoint a Director Hamazaki, Makoto
MGMT
FOR
FOR
           
Appoint a Director Ikeda, Yuichi
MGMT
FOR
FOR
           
Appoint a Director Ando, Yoshiaki
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 Tanabe, Kenji
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Nishihara, Koji
MGMT
AGAINST
AGAINST
           
Appoint a Substitute Corporate Auditor Mizuno, Takeo
MGMT
FOR
FOR
           
Approve Continuance of Policy regarding Large-scale Purchases of Company Shares (Anti-Takeover Defense Measures)
MGMT
AGAINST
AGAINST
                   
OTSUKA CORPORATION
29-Mar-2023
Annual General Meeting
105,500
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 Tsurumi, Hironobu
MGMT
FOR
FOR
           
Appoint a Director Saito, Hironobu
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
                   
KEIYO GAS CO.,LTD.
29-Mar-2023
Annual General Meeting
31,200
6487469
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Kikuchi, Misao
MGMT
AGAINST
AGAINST
           
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 Kuno, Koichi
MGMT
FOR
FOR
           
Appoint a Director Maekawa, Wataru
MGMT
FOR
FOR
           
Appoint a Director Mori, Takao
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Ueno, Yosuke
MGMT
FOR
FOR
                   
PIGEON CORPORATION
30-Mar-2023
Annual General Meeting
 46,300
6688080
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Approve Minor Revisions
MGMT
FOR
FOR
           
Appoint a Director Kitazawa, Norimasa
MGMT
FOR
FOR
           
Appoint a Director Itakura, Tadashi
MGMT
FOR
FOR
           
Appoint a Director Kevin Vyse-Peacock
MGMT
FOR
FOR
           
Appoint a Director Yano, Ryo
MGMT
FOR
FOR
           
Appoint a Director Nitta, Takayuki
MGMT
FOR
FOR
           
Appoint a Director Hatoyama, Rehito
MGMT
FOR
FOR
           
Appoint a Director Hayashi, Chiaki
MGMT
FOR
FOR
           
Appoint a Director Yamaguchi, Eriko
MGMT
FOR
FOR
           
Appoint a Director Miwa, Yumiko
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Nishimoto, Hiroshi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Ishigami, Koji
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Otsu, Koichi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Taishido, Atsuko
MGMT
AGAINST
AGAINST
           
Appoint a Substitute Corporate Auditor Omuro, Sachiko
MGMT
AGAINST
AGAINST
           
Appoint a Substitute Corporate Auditor Noda, Hiroko
MGMT
FOR
FOR
           
Approve Details of the Performance-based Stock Compensation to be received by Directors
MGMT
FOR
FOR
                   
NAKANISHI INC.
30-Mar-2023
Annual General Meeting
127,900
6271071
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Shiomi, Chika
MGMT
FOR
FOR
           
Approve Details of the Restricted-Stock Compensation to be received by Directors (Excluding Outside Directors)
MGMT
AGAINST
AGAINST

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
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-2023
Annual General Meeting
50,500
6551030
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Establish the Articles Related to Shareholders Meeting Held without Specifying a Venue, Approve Minor Revisions
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 Taniguchi, Shinichi
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 Iyoda, Tadahito
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Miyajima, Kazuaki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Takahashi, Toru
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 Okada, Akira
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Kobayashi, Katsumi
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 Toyoshi, Yoko
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Fukuyama, Yasuko
MGMT
FOR
FOR
                   
THE YOKOHAMA RUBBER COMPANY,LIMITED
30-Mar-2023
Annual General Meeting
63,400
6986461
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Change Company Location, Increase 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, Approve Minor Revisions
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Yamaishi, Masataka
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Nitin Mantri
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Seimiya, Shinji
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Miyamoto, Tomoaki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Nakamura, Yoshikuni
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Yuki, Masahiro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Okada, Hideichi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Hori, Masatoshi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kaneko, Hiroko
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Shimizu, Megumi
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Furukawa, Junichi
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Matsuo, Gota
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Uchida, Hisao
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Kono, Hirokazu
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Kamei, Atsushi
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Kimura, Hiroki
MGMT
FOR
FOR
           
Appoint a Substitute Director who is Audit and Supervisory Committee Member Furukawa, Junichi
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-Stock Compensation to be received by Directors (Excluding Outside Directors and Directors who are Audit and Supervisory Committee Members)
MGMT
FOR
FOR
                   
S FOODS INC.
24-May-2023
Annual General Meeting
215,200
6838584
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Murakami, Shinnosuke
MGMT
FOR
FOR
           
Appoint a Director Hirai, Hirokatsu
MGMT
FOR
FOR
           
Appoint a Director Komata, Motoaki
MGMT
FOR
FOR
           
Appoint a Director Sugimoto, Mitsufumi
MGMT
FOR
FOR
           
Appoint a Director Yoshimura, Naoki
MGMT
FOR
FOR
           
Appoint a Director Izuta, Junji
MGMT
FOR
FOR
           
Appoint a Director Iwabuchi, Hiroyasu
MGMT
FOR
FOR
           
Appoint a Director Unoki, Kenji
MGMT
FOR
FOR
           
Appoint a Director Matsuno, Masaru
MGMT
FOR
FOR
           
Appoint a Director Kamoda, Shizuko
MGMT
FOR
FOR
           
Appoint a Director Sato, Eiki
MGMT
FOR
FOR
           
Appoint a Director Shiramizu, Masako
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Daiyou Kin
MGMT
AGAINST
AGAINST
                   
PAL GROUP HOLDINGS CO.,LTD
24-May-2023
Annual General Meeting
63,400
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 Arimitsu, Yasuji
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 Corporate Auditor Fujii, Toshio
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Ogawa, Norihisa
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
SEDOL
  
Proposal
Proposed By
For/Against MGMT
Vote
IZUMI CO.,LTD.
24-May-2023
Annual General Meeting
212,500
6468152
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Yamanishi, Yasuaki
MGMT
FOR
FOR
           
Appoint a Director Mikamoto, Tatsuya
MGMT
FOR
FOR
           
Appoint a Director Machida, Shigeki
MGMT
FOR
FOR
           
Appoint a Director Kuromoto, Hiroshi
MGMT
FOR
FOR
           
Appoint a Director Yamanishi, Daisuke
MGMT
FOR
FOR
           
Appoint a Director Yoneda, Kunihiko
MGMT
FOR
FOR
           
Appoint a Director Aoyama, Naomi
MGMT
FOR
FOR
           
Appoint a Director Nishikawa, Masahiro
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Hisanaga, Hideaki
MGMT
FOR
FOR
                   
SAN-A CO.,LTD.
25-May-2023
Annual General Meeting
50,900
6280680
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
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 Toyoda, Taku
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 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
                   
MARUZEN CO.,LTD.
25-May-2023
Annual General Meeting
86,100
6573498
  
Approve Appropriation of Surplus
MGMT
AGAINST
AGAINST
           
Appoint a Director Watanabe, Keiichi
MGMT
AGAINST
AGAINST
           
Appoint a Director Watanabe, Yudai
MGMT
FOR
FOR
           
Appoint a Director Bammi, Fusao
MGMT
FOR
FOR
           
Appoint a Director Yamanoi, Makoto
MGMT
FOR
FOR
           
Appoint a Director Takehara, Naoyuki
MGMT
FOR
FOR
           
Appoint a Director Yanai, Takashi
MGMT
FOR
FOR
           
Appoint a Director Shumura, Hiroki
MGMT
FOR
FOR
           
Appoint a Director Kimizuka, Koji
MGMT
FOR
FOR
           
Appoint a Director Nakamaru, Yasushi
MGMT
FOR
FOR
           
Appoint a Director Yabe, Takaharu
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Kuno, Takashi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Tanahashi, Masaaki
MGMT
FOR
FOR
           
Shareholder Proposal: Approve Appropriation of Surplus
SHAREHOLDER
AGAINST
FOR
                   
TOKAI RIKA CO.,LTD.
13-Jun-2023
Annual General Meeting
186,700
6894025
  
Amend Articles to: Amend Business Lines
MGMT
FOR
FOR
           
Appoint a Director Ninoyu, Hiroyoshi
MGMT
FOR
FOR
           
Appoint a Director Sato, Koki
MGMT
FOR
FOR
           
Appoint a Director Sato, Masahiko
MGMT
FOR
FOR
           
Appoint a Director Fujioka, Kei
MGMT
FOR
FOR
           
Appoint a Director Miyama, Minako
MGMT
FOR
FOR
           
Appoint a Director Niwa, Motomi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Tsuchiya, Toshiaki
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Yamada, Yoshinori
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Uozumi, Naoto
MGMT
FOR
FOR
           
Approve Payment of Bonuses to Corporate Officers
MGMT
AGAINST
AGAINST
                   
OKINAWA CELLULAR TELEPHONE COMPANY
15-Jun-2023
Annual General Meeting
48,600
5805738
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Amend Business Lines, Approve Minor Revisions
MGMT
FOR
FOR
           
Appoint a Director Suga, Takashi
MGMT
AGAINST
AGAINST
           
Appoint a Director Yamamori, Seiji
MGMT
FOR
FOR
           
Appoint a Director Toguchi, Takeyuki
MGMT
FOR
FOR
           
Appoint a Director Kuniyoshi, Hiroki
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 Nakayama, Tomoko
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Asato, Masatoshi
MGMT
AGAINST
AGAINST
           
Appoint a Corporate Auditor Fuchibe, Miki
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Masuda, Haruhiko
MGMT
FOR
FOR
           
Approve Payment of Bonuses to Corporate Officers
MGMT
FOR
FOR
                   
SUGIMOTO & CO.,LTD.
15-Jun-2023
Annual General Meeting
130,000
6856928
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Sugimoto, Masahiro
MGMT
FOR
FOR
           
Appoint a Director Sugimoto, Masayuki
MGMT
FOR
FOR
           
Appoint a Director Imanaka, Hiroyuki
MGMT
FOR
FOR
           
Appoint a Director Miyaji, Kamezo
MGMT
AGAINST
AGAINST
           
Appoint a Director Tsuru, Yuki
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Aotani, Teruyuki
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Ban, Junnosuke
MGMT
AGAINST
AGAINST
           
Appoint a Corporate Auditor Umeno, Sotoji
MGMT
AGAINST
AGAINST

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
  SEDOL  
Proposal
Proposed By
For/Against
MGMT
 Vote
RIKEN TECHNOS CORPORATION
16-Jun-2023
Annual General Meeting
115,400
6739900
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Tokiwa, Kazuaki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Irie, Junji
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kajiyama, Gakuyuki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Sugino, Hitoshi
MGMT
FOR
FOR
                   
NAGASE & CO.,LTD.
20-Jun-2023
Annual General Meeting
85,300
6619820
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Asakura, Kenji
MGMT
FOR
FOR
           
Appoint a Director Ueshima, Hiroyuki
MGMT
FOR
FOR
           
Appoint a Director Ikemoto, Masaya
MGMT
FOR
FOR
           
Appoint a Director Kamada, Masatoshi
MGMT
FOR
FOR
           
Appoint a Director Nagase, Hiroshi
MGMT
FOR
FOR
           
Appoint a Director Nonomiya, Ritsuko
MGMT
FOR
FOR
           
Appoint a Director Horikiri, Noriaki
MGMT
FOR
FOR
           
Appoint a Director Mikoshiba, Toshiaki
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Takami, Akira
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Muramatsu, Takao
MGMT
FOR
FOR
                   
KANADEN CORPORATION
20-Jun-2023
Annual General Meeting
361,900
6483304
  
Appoint a Director Motohashi, Nobuyuki
MGMT
FOR
FOR
           
Appoint a Director Moriya, Futoshi
MGMT
FOR
FOR
           
Appoint a Director Nagashima, Yoshiro
MGMT
FOR
FOR
           
Appoint a Director Ito, Yayoi
MGMT
FOR
FOR
           
Appoint a Director Imado, Tomoe
MGMT
FOR
FOR
           
Appoint a Director Mori, Hisataka
MGMT
FOR
FOR
           
Appoint a Director Saigusa, Hironori
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Tsukada, Kazuhiro
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Okamoto, Osamu
MGMT
AGAINST
AGAINST
                   
NITTO KOHKI CO.,LTD.
20-Jun-2023
Annual General Meeting
395,400
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
           
Appoint a Director Santo, Masaji
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Nishida, Yutaka
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Yamada, Hideo
MGMT
FOR
FOR
                   
TRANCOM CO.,LTD.
20-Jun-2023
Annual General Meeting
84,500
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 Takebe, Atsunori
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 Sato, Kei
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Usagawa, Kuniko
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Shibuya, Eiji
MGMT
FOR
FOR
                   
THE HYAKUGO BANK,LTD.
21-Jun-2023
Annual General Meeting
194,200
6659666
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Ito, Toshiyasu
MGMT
AGAINST
AGAINST
           
Appoint a Director Sugiura, Masakazu
MGMT
AGAINST
AGAINST
           
Appoint a Director Yamazaki, Kei
MGMT
FOR
FOR
           
Appoint a Director Kato, Tetsuya
MGMT
FOR
FOR
           
Appoint a Director Arakida, Yutaka
MGMT
FOR
FOR
           
Appoint a Director Urata, Yasuhiro
MGMT
FOR
FOR
           
Appoint a Director Kobayashi, Nagahisa
MGMT
FOR
FOR
           
Appoint a Director Kawakita, Hisashi
MGMT
AGAINST
AGAINST
           
Appoint a Director Nishioka, Keiko
MGMT
FOR
FOR
           
Appoint a Director Nakamura, Atsushi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Tsuruoka, Shinji
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Kawabata, Ikuko
MGMT
FOR
FOR
           
Shareholder Proposal: Approve Purchase of Own Shares
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Approve Appropriation of Surplus
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Appoint a Director Maeda, Tomoki
SHAREHOLDER
FOR
AGAINST
                   
SERIA CO.,LTD.
21-Jun-2023
Annual General Meeting
287,500
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 Miyake, Natsuko
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
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.
22-Jun-2023
Annual General Meeting
27,200
6498762
  
Approve Appropriation of Surplus
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 Yamada, Shinichi
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 not Audit and Supervisory Committee Member Furuya, Mayumi
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Nakada, Koichi
MGMT
FOR
FOR
                   
FJ NEXT HOLDINGS CO.,LTD.
22-Jun-2023
Annual General Meeting
31,200
B0406Q3
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Hida, Yukiharu
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Nagai, Atsushi
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Masuko, Shigeo
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Suzuki, Kenichi
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Suzuki, Kiyoshi
MGMT
AGAINST
AGAINST
           
Appoint a Director who is Audit and Supervisory Committee Member Takaba, Daisuke
MGMT
AGAINST
AGAINST
           
Appoint a Substitute Director who is Audit and Supervisory Committee Member Nozawa, Toshinori
MGMT
FOR
FOR
           
Appoint a Substitute Director who is Audit and Supervisory Committee Member Oshiro, Kie
MGMT
FOR
FOR
           
Approve Payment of Accrued Benefits associated with Abolition of Retirement Benefit System for Current Corporate Officers
MGMT
AGAINST
AGAINST
           
Approve Details of the Restricted-Stock Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members and Outside Directors)
MGMT
FOR
FOR
                   
MORIROKU HOLDINGS COMPANY,LTD.
22-Jun-2023
Annual General Meeting
38,700
BFNG7Z3
  
Amend Articles to: Amend Official Company Name, Amend Business Lines
MGMT
FOR
FOR
           
Appoint a Director Kurita, Takashi
MGMT
FOR
FOR
           
Appoint a Director Monji, Hidehito
MGMT
FOR
FOR
           
Appoint a Director Morita, Kazuyuki
MGMT
FOR
FOR
           
Appoint a Director Shibata, Koichiro
MGMT
FOR
FOR
           
Appoint a Director Hirai, Kenichi
MGMT
FOR
FOR
           
Appoint a Director Otsuka, Ryo
MGMT
FOR
FOR
           
Appoint a Director Yokote, Hitomi
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Miyagoshi, Hiroyuki
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Yukimaru, Akiko
MGMT
FOR
FOR
                   
NICHIHA CORPORATION
23-Jun-2023
Annual General Meeting
73,300
6638331
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Yoshioka, Narumitsu
MGMT
FOR
FOR
           
Appoint a Director Tonoi, Kazushi
MGMT
FOR
FOR
           
Appoint a Director Kojima, Kazuyuki
MGMT
FOR
FOR
           
Appoint a Director Kawashima, Hisayuki
MGMT
FOR
FOR
           
Appoint a Director Oka, Munetsugu
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 Director Otani, Kazuko
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Shibata, Yoshihiro
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Sasaki, Kenji
MGMT
FOR
FOR
                   
MORITA HOLDINGS CORPORATION
23-Jun-2023
Annual General Meeting
289,500
6602745
  
Appoint a Director Nakajima, Masahiro
MGMT
AGAINST
AGAINST
           
Appoint a Director Kanaoka, Shinichi
MGMT
AGAINST
AGAINST
           
Appoint a Director Morimoto, Kunio
MGMT
FOR
FOR
           
Appoint a Director Murai, Shinya
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 Director Kato, Masayoshi
MGMT
FOR
FOR
           
Appoint a Director Fukunishi, Hiroyuki
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Ota, Masaru
MGMT
FOR
FOR
           
Approve Details of the Restricted-Stock Compensation to be received by Directors
MGMT
FOR
FOR
                   
PALTAC CORPORATION
23-Jun-2023
Annual General Meeting
115,400
B61BG94
  
Appoint a Director Kasutani, Seiichi
MGMT
FOR
FOR
           
Appoint a Director Yoshida, Takuya
MGMT
FOR
FOR
           
Appoint a Director Noma, Masahiro
MGMT
FOR
FOR
           
Appoint a Director Shimada, Masaharu
MGMT
FOR
FOR
           
Appoint a Director Yamada, Yoshitaka
MGMT
FOR
FOR
           
Appoint a Director Sakon, Yuji
MGMT
FOR
FOR
           
Appoint a Director Oishi, Kaori
MGMT
FOR
FOR
           
Appoint a Director Orisaku, Mineko
MGMT
FOR
FOR
           
Appoint a Director Inui, Shingo
MGMT
FOR
FOR
           
Appoint a Director Yoshitake, Ichiro
MGMT
FOR
FOR
           
Appoint a Director Takamori, Tatsuomi
MGMT
FOR
FOR
           
Appoint a Director Hattori, Akito
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Shintani, Takashi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Hikita, Kyoko
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
SEDOL
  
Proposal
Proposed By
For/Against
MGMT
Vote
SG HOLDINGS CO.,LTD.
23-Jun-2023
Annual General Meeting
86,100
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 Kawanago, Katsuhiro
MGMT
FOR
FOR
           
Appoint a Director Sasamori, Kimiaki
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 Niimoto, Tomonari
MGMT
FOR
FOR
                   
YOSSIX HOLDINGS CO.,LTD.
23-Jun-2023
Annual General Meeting
90,600
BSZM2R7
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Approve Minor Revisions
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Yoshioka, Masanari
MGMT
AGAINST
AGAINST
           
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
           
Appoint a Substitute Director who is Audit and Supervisory Committee Member Suzuki, Takaomi
MGMT
AGAINST
AGAINST
                   
SOKEN CHEMICAL & ENGINEERING CO.,LTD.
23-Jun-2023
Annual General Meeting
42,500
6338910
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Amend the Articles Related to Substitute Corporate Auditors
MGMT
FOR
FOR
           
Appoint a Director Fukuda, Junichiro
MGMT
AGAINST
AGAINST
           
Appoint a Director Takizawa, Kiyotaka
MGMT
FOR
FOR
           
Appoint a Director Tomita, Koji
MGMT
FOR
FOR
           
Appoint a Director Okamoto, Shuji
MGMT
FOR
FOR
           
Appoint a Director Hasui, Takafumi
MGMT
FOR
FOR
           
Appoint a Director Tsuchiya, Jun
MGMT
FOR
FOR
           
Appoint a Director Kamiyama, Kenjiro
MGMT
FOR
FOR
           
Appoint a Director Fusegi, Takayoshi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Matsumoto, Shinsuke
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Nara, Shin
MGMT
FOR
FOR
                   
THE TAIKO BANK,LTD.
23-Jun-2023
Annual General Meeting
333,700
6871493
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Ishida, Yukio
MGMT
AGAINST
AGAINST
           
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 not Audit and Supervisory Committee Member Aiba, Minoru
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Takahashi, Yoshihiko
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 Sakai, Keiji
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Nakamura, Chieko
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Takahashi, Masahide
MGMT
FOR
FOR
                   
FUDO TETRA CORPORATION
23-Jun-2023
Annual General Meeting
9,900
6355005
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Takehara, Yuji
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Okuda, Shinya
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Obayashi, Jun
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Tadano, Akihiko
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Niiyama, Chihiro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kawachi, Yoji
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Osawa, Mari
MGMT
FOR
FOR
                   
THE NIPPON ROAD CO.,LTD.
23-Jun-2023
Annual General Meeting
11,400
6642462
  
Appoint a Director Ishii, Toshiyuki
MGMT
AGAINST
AGAINST
           
Appoint a Director Hyodo, Masakazu
MGMT
FOR
FOR
           
Appoint a Director Ito, Kaoru
MGMT
FOR
FOR
           
Appoint a Director Kasai, Toshihiko
MGMT
FOR
FOR
           
Appoint a Director Takasugi, Takeshi
MGMT
FOR
FOR
           
Appoint a Director Matsumoto, Taku
MGMT
FOR
FOR
           
Appoint a Director Morimura, Nozomu
MGMT
FOR
FOR
           
Appoint a Director Kosao, Fumiko
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Yamamori, Yuichi
MGMT
AGAINST
AGAINST
           
Approve Details of the Compensation to be received by Corporate Officers
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted Shares
 SEDOL  
Proposal
Proposed By
For/Against MGMT
 Vote
EXEO GROUP,INC.
23-Jun-2023
Annual General Meeting
349,300
6499420
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Funabashi, Tetsuya
MGMT
FOR
FOR
           
Appoint a Director Mino, Koichi
MGMT
FOR
FOR
           
Appoint a Director Watabe, Noriyuki
MGMT
FOR
FOR
           
Appoint a Director Koyama, Yuichi
MGMT
FOR
FOR
           
Appoint a Director Sakaguchi, Takafumi
MGMT
FOR
FOR
           
Appoint a Director Imaizumi, Fumitoshi
MGMT
FOR
FOR
           
Appoint a Director Hayashi, Shigeki
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 Aramaki, Tomoko
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Kojima, Shinji
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Osawa, Eiko
MGMT
FOR
FOR
                   
AICA KOGYO COMPANY,LIMITED
23-Jun-2023
Annual General Meeting
150,400
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 Ebihara, Kenji
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 Iwatsuka, Yuji
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kanie, Hiroshi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Shimizu, Ayako
MGMT
FOR
FOR
                   
FUSO CHEMICAL CO.,LTD.
23-Jun-2023
Annual General Meeting
126,500
6347712
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Fujioka, Misako
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Sugita, Shinichi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Masauji, Haruo
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Tanimura, Takashi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Sugimoto, Motoki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Fujioka, Atsushi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Hyakushima, Hakaru
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Hirata, Fumiaki
MGMT
FOR
FOR
           
Approve Details of the Restricted-Stock Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members and Outside Directors)
MGMT
FOR
FOR
                   
ADEKA CORPORATION
23-Jun-2023
Annual General Meeting
103,600
6054904
  
Approve Appropriation of Surplus
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 Shiga, Yoji
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 Nagai, Kazuyuki
MGMT
AGAINST
AGAINST
           
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 Taya, Koichi
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 Hirasawa, Ikuko
MGMT
FOR
FOR
           
Appoint a Substitute Director who is Audit and Supervisory Committee Member Yumiba, Keiji
MGMT
FOR
FOR
                   
T&K TOKA CO.,LTD.
23-Jun-2023
Annual General Meeting
43,800
6038469
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Takamizawa, Akihiro
MGMT
AGAINST
AGAINST
           
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 Sekine, Hideaki
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Otaka, Kenji
MGMT
AGAINST
AGAINST
           
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
           
Appoint a Director who is Audit and Supervisory Committee Member Kimura, Hideaki
MGMT
FOR
FOR
                   
RYODEN CORPORATION
23-Jun-2023
Annual General Meeting
277,300
6763006
  
Appoint a Director Tomizawa, Katsuyuki
MGMT
AGAINST
AGAINST
           
Appoint a Director Kitai, Shoji
MGMT
FOR
FOR
           
Appoint a Director Ozawa, Takahiro
MGMT
FOR
FOR
           
Appoint a Director Higashi, Shunichi
MGMT
FOR
FOR
           
Appoint a Director Fujiwara, Goro
MGMT
AGAINST
AGAINST
           
Appoint a Director Muroi, Masahiro
MGMT
FOR
FOR
           
Appoint a Director Thomas Witty
MGMT
FOR
FOR
           
Appoint a Director Matsuo, Hideki
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Hiraide, Hiroshi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Tomomori, Hirozo
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Okamoto, Osamu
MGMT
AGAINST
AGAINST

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
SEDOL
  
Proposal
Proposed By
For/Against
MGMT
 Vote
KOHSOKU CORPORATION
26-Jun-2023
Annual General Meeting
169,600
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 Obara, Junichi
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 Iwasawa, Miyuki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Mitamura, Takashi
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Numakura, Masae
MGMT
FOR
FOR
           
Approve Details of the Restricted-Stock Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members and Outside Directors)
MGMT
FOR
FOR
                   
RICOH LEASING COMPANY,LTD.
26-Jun-2023
Annual General Meeting
27,100
6729116
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Amend Business Lines
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 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 Ichinose, Takashi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Zama, Nobuhisa
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Irisa, Takahiro
MGMT
AGAINST
AGAINST
           
Appoint a Substitute Director who is Audit and Supervisory Committee Member Ikeda, Koichiro
MGMT
FOR
FOR
           
Approve Details of the Stock Compensation to be received by Directors
MGMT
FOR
FOR
                   
MIZUHO LEASING COMPANY,LIMITED
27-Jun-2023
Annual General Meeting
66,000
B02QLW4
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Tsuhara, Shusaku
MGMT
FOR
FOR
           
Appoint a Director Nakamura, Akira
MGMT
FOR
FOR
           
Appoint a Director Nagamine, Hiroshi
MGMT
FOR
FOR
           
Appoint a Director Nishiyama, Takanori
MGMT
FOR
FOR
           
Appoint a Director Otaka, Noboru
MGMT
FOR
FOR
           
Appoint a Director Takezawa, Toshiyuki
MGMT
FOR
FOR
           
Appoint a Director Negishi, Naofumi
MGMT
FOR
FOR
           
Appoint a Director Hagihira, Hirofumi
MGMT
FOR
FOR
           
Appoint a Director Sagiya, Mari
MGMT
FOR
FOR
           
Appoint a Director Kawamura, Hajime
MGMT
AGAINST
AGAINST
           
Appoint a Director Aonuma, Takayuki
MGMT
FOR
FOR
           
Appoint a Director Sone, Hirozumi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Arita, Koji
MGMT
AGAINST
AGAINST
           
Approve Details of the Stock Compensation to be received by Directors
MGMT
AGAINST
AGAINST
                   
DAISHI HOKUETSU FINANCIAL GROUP,INC.
27-Jun-2023
Annual General Meeting
66,900
BFYGQ44
  
Appoint a Director who is not Audit and Supervisory Committee Member Namiki, Fujio
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Ueguri, Michiro
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Takahashi, Makoto
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Shibata, Ken
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Tanaka, Takayoshi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Maki, Toshiyuki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Ishizaka, Takashi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Miyakoshi, Tadanori
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Konomura, Takayoshi
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Mori, Kunio
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
 SEDOL  
Proposal
Proposed By
For/Against
MGMT
Vote
KYOKUTO KAIHATSU KOGYO CO.,LTD.
27-Jun-2023
Annual General Meeting
206,400
6499088
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Change Company Location, Amend Business Lines
MGMT
FOR
FOR
           
Appoint a Director Nunohara, Tatsuya
MGMT
FOR
FOR
           
Appoint a Director Harada, Kazuhiko
MGMT
FOR
FOR
           
Appoint a Director Norimitsu, Takeo
MGMT
FOR
FOR
           
Appoint a Director Horimoto, Noboru
MGMT
FOR
FOR
           
Appoint a Director Kizu, Teruyuki
MGMT
FOR
FOR
           
Appoint a Director Terakawa, Hiroyuki
MGMT
FOR
FOR
           
Appoint a Director Kaneko, Keiko
MGMT
FOR
FOR
           
Appoint a Director Tomohiro, Takanobu
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Sakurai, Akira
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Kuriyama, Hiroaki
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Fujiwara, Kuniaki
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Asada, Nobuhiro
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Kimura, Rintaro
MGMT
AGAINST
AGAINST
           
Shareholder Proposal: Approve Appropriation of Surplus
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Approve Details of the remuneration to grant restricted shares with stock-price-based conditions to Directors
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amendment to the Articles of Incorporation regarding disclosure of methods for calculating performance-linked remuneration for Directors with Authority of Representation)
SHAREHOLDER
AGAINST
FOR
           
Shareholder Proposal: Amend Articles of Incorporation (Amendment to the Articles of Incorporation regarding payment of bonuses with stock-price-based conditions to employees)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amendment to the Articles of Incorporation regarding cross-shareholdings)
SHAREHOLDER
FOR
AGAINST
                   
YURTEC CORPORATION
27-Jun-2023
Annual General Meeting
505,800
6894672
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Abe, Toshinori
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Ota, Yoshiharu
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Kobayashi, Ikumi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Takasugi, Kazuo
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Miura, Koji
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Suzuki, Yasuhiro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Takano, Hiromitsu
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Mitsui, Seiichi
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Takano, Keiichi
MGMT
FOR
FOR
                   
NICHIREI CORPORATION
27-Jun-2023
Annual General Meeting
224,200
5809042
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Okushi, Kenya
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 Suzuki, Kenji
MGMT
FOR
FOR
           
Appoint a Director Takaku, Yuichi
MGMT
FOR
FOR
           
Appoint a Director Shoji, Kuniko
MGMT
FOR
FOR
           
Appoint a Director Nabeshima, Mana
MGMT
FOR
FOR
           
Appoint a Director Hama, Itsuo
MGMT
FOR
FOR
           
Appoint a Director Hamashima, Kenji
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Saito, Yuhiko
MGMT
FOR
FOR
                   
SEKISUI JUSHI CORPORATION
27-Jun-2023
Annual General Meeting
437,800
6793843
  
Appoint a Director Baba, Hiroshi
MGMT
FOR
FOR
           
Appoint a Director Miyata, Toshitaka
MGMT
FOR
FOR
           
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 Director Miyoshi, Nagaaki
MGMT
FOR
FOR
                   
KAWAI MUSICAL INSTRUMENTS MANUFACTURING CO.,LTD.
27-Jun-2023
Annual General Meeting
21,900
6484460
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Kawai, Hirotaka
MGMT
FOR
FOR
           
Appoint a Director Ito, Teruyuki
MGMT
FOR
FOR
           
Appoint a Director Kawai, Kentaro
MGMT
FOR
FOR
           
Appoint a Director Ushio, Hiroshi
MGMT
FOR
FOR
           
Appoint a Director Minowa, Masafumi
MGMT
FOR
FOR
           
Appoint a Director Mori, Naoki
MGMT
FOR
FOR
           
Appoint a Director Katagiri, Ichisei
MGMT
FOR
FOR
           
Appoint a Director Goto, Yasuo
MGMT
FOR
FOR
           
Appoint a Director Muramatsu, Naomi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Makita, Harumitsu
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Tabata, Takahisa
MGMT
AGAINST
AGAINST

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
SEDOL
  
Proposal
Proposed By
For/Against MGMT
 Vote
OKINAWA FINANCIAL GROUP,INC.
27-Jun-2023
Annual General Meeting
158,900
BMT97H7
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Approve Minor Revisions
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Yamashiro, Masayasu
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kinjo, Yoshiteru
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Iha, Kazuya
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Murakami, Naoko
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Ikei, Mamoru
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Toyama, Keiko
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Higa, Mitsuru
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Sugimoto, Kenji
MGMT
FOR
FOR
           
Approve Payment of Bonuses to Corporate Officers
MGMT
AGAINST
AGAINST
                   
THE YAMANASHI CHUO BANK,LTD.
27-Jun-2023
Annual General Meeting
163,400
6985361
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Seki, Mitsuyoshi
MGMT
AGAINST
AGAINST
           
Appoint a Director Furuya, Yoshiaki
MGMT
FOR
FOR
           
Appoint a Director Yamadera, Masahiko
MGMT
FOR
FOR
           
Appoint a Director Tanaka, Norihiko
MGMT
FOR
FOR
           
Appoint a Director Sato, Hideki
MGMT
FOR
FOR
           
Appoint a Director Naito, Tetsuya
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
                   
KYOEI STEEL LTD.
27-Jun-2023
Annual General Meeting
220,300
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 Kawai, Kenji
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 Funato, Kimiko
MGMT
FOR
FOR
           
Appoint a Director Yokoyama, Masami
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Muneoka, Toru
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Takeuchi, Yohei
MGMT
FOR
FOR
                   
YUSHIRO CHEMICAL INDUSTRY CO.,LTD.
27-Jun-2023
Annual General Meeting
261,100
6988757
  
Amend Articles to: Amend Business Lines
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 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 Takakura, Kazutoshi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Ishikawa, Takuya
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Nakano, Masafumi
MGMT
FOR
FOR
                   
FUJIKURA KASEI CO.,LTD.
27-Jun-2023
Annual General Meeting
1,608,900
6356729
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kato, Daisuke
MGMT
AGAINST
AGAINST
           
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 Tsuchiya, Toyohiro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Ishii, Takahiro
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 Watanabe, Hiroaki
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
           
Appoint a Director who is Audit and Supervisory Committee Member Senoo, Tomoko
MGMT
FOR
FOR
           
Appoint a Substitute Director who is Audit and Supervisory Committee Member Miyagawa, Hiroshi
MGMT
FOR
FOR
                   
SANTEN PHARMACEUTICAL CO.,LTD.
27-Jun-2023
Annual General Meeting
119,200
6776606
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Kurokawa, Akira
MGMT
FOR
FOR
           
Appoint a Director Ito, Takeshi
MGMT
FOR
FOR
           
Appoint a Director Oishi, Kanoko
MGMT
FOR
FOR
           
Appoint a Director Shintaku, Yutaro
MGMT
FOR
FOR
           
Appoint a Director Minakawa, Kunihito
MGMT
FOR
FOR
           
Appoint a Director Kotani, Noboru
MGMT
FOR
FOR
           
Appoint a Director Minami, Tamie
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Asatani, Junichi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Hodaka, Yaeko
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
 SEDOL   Proposal
Proposed By
For/Against
MGMT
Vote
MIRAIT ONE CORPORATION
27-Jun-2023
Annual General Meeting
214,400
B3Y56R0
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Establish the Articles Related to Shareholders Meeting Held without Specifying a Venue
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Nakayama, Toshiki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Totake, Yasushi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Takahashi, Masayuki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Miyazaki, Tatsumi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Takaya, Yoichiro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Wakimoto, Hiroshi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Mitsuya, Takaaki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Igarashi, Katsuhiko
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Ohashi, Hiroki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Takagi, Yasuhiro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Baba, Chiharu
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Yamamoto, Mayumi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kawaratani, Shinichi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Tsukasaki, Yuko
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Hayakawa, Osamu
MGMT
FOR
FOR
                   
TOTETSU KOGYO CO.,LTD.
28-Jun-2023
Annual General Meeting
174,200
6897444
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Yagishita, Naomichi
MGMT
FOR
FOR
           
Appoint a Director Maekawa, Tadao
MGMT
FOR
FOR
           
Appoint a Director Shimomura, Hikaru
MGMT
FOR
FOR
           
Appoint a Director Yasuda, Hiroaki
MGMT
FOR
FOR
           
Appoint a Director Sakai, Toshiro
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
                   
AOI ELECTRONICS CO.,LTD.
28-Jun-2023
Annual General Meeting
 89,200
6270960
  
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 Fukuda, Kazuyuki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Aoki, Ryoji
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 Kitayama, Noboru
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Hashimoto, Junko
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
SEDOL
  
Proposal
Proposed By
For/Against
MGMT
 Vote
KYUSHU ELECTRIC POWER COMPANY,INCORPORATED
28-Jun-2023
Annual General Meeting
767,700
6499806
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Update the Articles Related to Class Shares (PLEASE NOTE THIS IS THE CONCURRENT AGENDA ITEM FOR THE ANNUAL GENERAL SHAREHOLDERS MEETING AND THE CLASS SHAREHOLDERS MEETING OF ORDINARY SHAREHOLDERS.)
MGMT
FOR
FOR
           
Approve Issuance of New Class Shares to a Third Party or Third Parties
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Uriu, Michiaki
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Ikebe, Kazuhiro
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Toyoshima, Naoyuki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Hashimoto, Noboru
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Soda, Atsushi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Senda, Yoshiharu
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Nakano, Takashi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Nishiyama, Masaru
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Tachibana Fukushima, Sakie
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Tsuda, Junji
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Endo, Yasuaki
MGMT
FOR
FOR
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Partial Return of the President's Remuneration When the Company Has Received an Order Pertaining to a Company Scandal)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to The Company's Basic Policy on a Preliminary Injunction Preventing Operation of a Nuclear Power Station)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Individual Disclosure of Officers' Remuneration )
SHAREHOLDER
AGAINST
FOR
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Dismissal of all Compliance Committee Members, the Method of Election of New Members and Disclosure of such Members)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Order of Priority of Means for Eliminating Losses)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Linking Officers' Remuneration to Shareholder Dividends for the Same Fiscal Year)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Appointment of a Full-time Executive Officer in Charge of the Nuclear Regulation Authority)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Prohibition on Abuse of the Chairperson's Authority in Progression through Proceedings During the General Meeting of Shareholders)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Suspending Transactions With any Securities Company That Has Engaged in Share Price Manipulation, etc.)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Prohibition on the President Serving in a Concurrent Position in Another Organization When Serious Internal Problems Have Been Discovered in the Company)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Remove a Director Ikebe, Kazuhiro
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Establishment of a Special Compliance Committee)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Sale of Kyushu Electric Power Transmission and Distribution Co., Inc.)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Establishment of a Committee to Investigate the Issue of a 20-Year Extension for the Sendai Nuclear Power Station)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Use of 3D Reflection Method for Seismic Surveys)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Discontinuation of Nuclear Fuel Cycle Business)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to The Company Aims to be a Company that Values its Shareholders)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Complete Independence of Organ Concerning Compliance)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Fair Transactions with Subsidiaries)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Clarifying Responsibility for Changes to Dividends)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Clarifying Responsibility for and Speed of Response to Scandals)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Active Information Disclosure)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Shareholders' Approval of Particularly Important Positions)
SHAREHOLDER
FOR
AGAINST

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
SEDOL
   Proposal
Proposed By
For/Against
MGMT
Vote
SHIKOKU ELECTRIC POWER COMPANY,INCORPORATED
28-Jun-2023
Annual General Meeting
760,000
6804347
  
Appoint a Director who is not Audit and Supervisory Committee Member Saeki, Hayato
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Nagai, Keisuke
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Shirai, Hisashi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kawanishi, Noriyuki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Miyamoto, Yoshihiro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Miyazaki, Seiji
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Ota, Masahiro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Suginouchi, Kenzo
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Kawahara, Hiroshi
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Kagawa, Ryohei
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Otsuka, Iwao
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Nishiyama, Shoichi
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Izutani, Yachiyo
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
           
Shareholder Proposal: Approve Appropriation of Surplus
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Remove a Director Saeki, Hayato
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Remove a Director Nagai, Keisuke
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Remove a Director Miyazaki, Seiji
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (1)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (2)
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (3)
SHAREHOLDER
FOR
AGAINST
                   
THE KEIYO BANK,LTD.
28-Jun-2023
Annual General Meeting
376,600
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
                   
THE AKITA BANK,LTD.
28-Jun-2023
Annual General Meeting
267,400
6011653
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Araya, Akihiro
MGMT
AGAINST
AGAINST
           
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 Ashida, Kosuke
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Miura, Chikara
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 Sakaki, Junichi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Nakata, Naofumi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kakizaki, Tamaki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Ito, Yutaka
MGMT
FOR
FOR
                   
THE MUSASHINO BANK,LTD.
28-Jun-2023
Annual General Meeting
 64,900
6611440
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Nagahori, Kazumasa
MGMT
FOR
FOR
           
Appoint a Director Shirai, Toshiyuki
MGMT
FOR
FOR
           
Appoint a Director Otomo, Ken
MGMT
FOR
FOR
           
Appoint a Director Kainuma, Tsutomu
MGMT
FOR
FOR
           
Appoint a Director Miyazaki, Takao
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
           
Appoint a Corporate Auditor Wakahayashi, Kazuhiro
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Nakano, Akira
MGMT
FOR
FOR
                   
CENTRAL AUTOMOTIVE PRODUCTS LTD.
28-Jun-2023
Annual General Meeting
68,900
6183927
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Increase the Board of Directors Size, Transition to a Company with Supervisory Committee
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Sakata, Shinichiro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Torino, Yoshifumi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kondo, Masayuki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Sumiyoshi, Tetsuya
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kakino, Masafumi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Hirouchi, Manabu
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kuboi, Toshiaki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Masuda, Fumihiro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Sakai, Norimitsu
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member AHMED SAJJAD
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Gusoku, Shoji
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Nakayama, Masataka
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Horiuchi, Takefumi
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Osawa, Hidemi
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-Stock Compensation to be received by Directors (Excluding Outside Directors and Directors who are Audit and Supervisory Committee Members)
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
 SEDOL  
Proposal
Proposed By
For/Against
MGMT
Vote
NIPPON SEIKI CO.,LTD.
28-Jun-2023
Annual General Meeting
414,000
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 Nagano, Keiichi
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 Yoshihara, Masahiro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Murayama, Kazuhiko
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 Suzuki, Kiyoshi
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Enomoto, Toshihiko
MGMT
FOR
FOR
           
Shareholder Proposal: Approve Purchase of Own Shares
SHAREHOLDER
FOR
AGAINST
                   
NOK CORPORATION
28-Jun-2023
Annual General Meeting
26,300
6642428
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Tsuru, Masato
MGMT
AGAINST
AGAINST
           
Appoint a Director Tsuru, Masao
MGMT
AGAINST
AGAINST
           
Appoint a Director Kuroki, Yasuhiko
MGMT
FOR
FOR
           
Appoint a Director Watanabe, Akira
MGMT
FOR
FOR
           
Appoint a Director Orita, Junichi
MGMT
FOR
FOR
           
Appoint a Director Hogen, Kensaku
MGMT
FOR
FOR
           
Appoint a Director Fujioka, Makoto
MGMT
FOR
FOR
           
Appoint a Director Shimada, Naoki
MGMT
FOR
FOR
                   
TOPRE CORPORATION
28-Jun-2023
Annual General Meeting
98,200
6894928
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Midorikawa, Yoshie
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Sato, Masahiko
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Tanaka, Hidekazu
MGMT
FOR
FOR
                   
ASIA PILE HOLDINGS CORPORATION
28-Jun-2023
Annual General Meeting
268,900
B06D3N6
  
Appoint a Director Kurose, Akira
MGMT
AGAINST
AGAINST
           
Appoint a Director Kurose, Shusuke
MGMT
AGAINST
AGAINST
           
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 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
           
Appoint a Director Kabasawa, Toshihiro
MGMT
FOR
FOR
           
Appoint a Director Ueda, Kohei
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Ota, Kunimasa
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Doken, Hiroyuki
MGMT
FOR
FOR
                   
C.I. TAKIRON CORPORATION
28-Jun-2023
Annual General Meeting
327,400
6870887
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Saito, Kazuya
MGMT
AGAINST
AGAINST
           
Appoint a Director Fukuda, Yuji
MGMT
AGAINST
AGAINST
           
Appoint a Director Tamaki, Toshio
MGMT
FOR
FOR
           
Appoint a Director Fukushima, Noboru
MGMT
FOR
FOR
           
Appoint a Director Hatano, Kenichi
MGMT
FOR
FOR
           
Appoint a Director Kosaka, Yoshiko
MGMT
FOR
FOR
           
Appoint a Director Kaide, Takeshi
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Honda, Takashi
MGMT
FOR
FOR
           
Approve Details of the Performance-based Stock Compensation to be received by Directors
MGMT
FOR
FOR
                   
SAKAI CHEMICAL INDUSTRY CO.,LTD.
28-Jun-2023
Annual General Meeting
169,500
6769402
  
Appoint a Director Yabe, Masaaki
MGMT
FOR
FOR
           
Appoint a Director Yagura, Toshiyuki
MGMT
FOR
FOR
           
Appoint a Director Nakahara, Shinji
MGMT
FOR
FOR
           
Appoint a Director Okamoto, Yasuhiro
MGMT
FOR
FOR
           
Appoint a Director Hattori, Hiroyuki
MGMT
FOR
FOR
           
Appoint a Director Ito, Yoshikazu
MGMT
FOR
FOR
           
Appoint a Director Wada, Hiromi
MGMT
FOR
FOR
           
Appoint a Director Matsuda, Mitsunori
MGMT
FOR
FOR
           
Appoint Accounting Auditors
MGMT
FOR
FOR
           
Approve Payment of Bonuses to Directors
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
SEDOL
  
Proposal
Proposed By
For/Against
MGMT
Vote
TOENEC CORPORATION
28-Jun-2023
Annual General Meeting
84,200
6895620
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Ikeyama, Tatsuo
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 Hirata, Koji
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Fujita, Yuzo
MGMT
AGAINST
AGAINST
           
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 Yamazaki, Shigemitsu
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 Ukai, Hiroyuki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Yoshimoto, Akiko
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 Terada, Shuichi
MGMT
AGAINST
AGAINST
                   
TPR CO.,LTD.
29-Jun-2023
Annual General Meeting
72,200
6880927
  
Appoint a Director Suehiro, Hiroshi
MGMT
FOR
FOR
           
Appoint a Director Yano, Kazumi
MGMT
FOR
FOR
           
Appoint a Director Karasawa, Takehiko
MGMT
FOR
FOR
           
Appoint a Director Ii, Akihiko
MGMT
FOR
FOR
           
Appoint a Director Ayuzawa, Noriaki
MGMT
FOR
FOR
           
Appoint a Director Honke, Masataka
MGMT
FOR
FOR
           
Appoint a Director Kato, Toshihisa
MGMT
FOR
FOR
           
Appoint a Director Osawa, Kanako
MGMT
FOR
FOR
           
Appoint a Director Muneto, Kenji
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Kitahara, Masahiro
MGMT
FOR
FOR
                   
NICHIA STEEL WORKS,LTD.
29-Jun-2023
Annual General Meeting
1,570,600
6638160
  
Approve Appropriation of Surplus
MGMT
AGAINST
AGAINST
           
Appoint a Director Onishi, Toshinori
MGMT
AGAINST
AGAINST
           
Appoint a Director Okigaki, Yoshihiro
MGMT
FOR
FOR
           
Appoint a Director Terakawa, Naoki
MGMT
FOR
FOR
           
Appoint a Director Takama, Toshio
MGMT
FOR
FOR
           
Appoint a Director Gotoda, Hideaki
MGMT
FOR
FOR
           
Appoint a Director Tanaka, Fumitake
MGMT
FOR
FOR
           
Appoint a Director Kido, Kunihiro
MGMT
FOR
FOR
           
Appoint a Director Nakatani, Yoshiro
MGMT
FOR
FOR
           
Appoint a Director Ishihara, Miho
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Kitabatake, Shoji
MGMT
AGAINST
AGAINST
                   
NISHIKAWA RUBBER CO.,LTD.
29-Jun-2023
Annual General Meeting
297,800
6646862
  
Approve Appropriation of Surplus
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Nishikawa, Masahiro
MGMT
FOR
FOR
           
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 Yasuishi, Keiji
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 Teishi, Minoru
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Tatsudai, Akihiko
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Sasaki, Yoshihiro
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Yoshino, Takeshi
MGMT
AGAINST
AGAINST
           
Appoint a Director who is Audit and Supervisory Committee Member Osako, Tadashi
MGMT
AGAINST
AGAINST
           
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
           
Approve Continuance of Policy regarding Large-scale Purchases of Company Shares (Anti-Takeover Defense Measures)
MGMT
FOR
FOR
                   
OBIC CO.,LTD.
29-Jun-2023
Annual General Meeting
 6,800
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 Okada, Takeshi
MGMT
FOR
FOR
           
Appoint a Director Gomi, Yasumasa
MGMT
FOR
FOR
           
Appoint a Director Ejiri, Takashi
MGMT
FOR
FOR
           
Appoint a Director Egami, Mime
MGMT
FOR
FOR
           
Approve Details of the Compensation to be received by Directors
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
SEDOL
   Proposal
Proposed By
For/Against
MGMT
  
Vote
NICHIREKI CO.,LTD.
29-Jun-2023
Annual General Meeting
146,800
6638687
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Establish the Articles Related to Record Date for Interim Dividends
MGMT
FOR
FOR
           
Appoint a Director Obata, Manabu
MGMT
FOR
FOR
           
Appoint a Director Kawaguchi, Yuji
MGMT
FOR
FOR
           
Appoint a Director Hanyu, Akiyoshi
MGMT
FOR
FOR
           
Appoint a Director Totsuka, Hiroyuki
MGMT
FOR
FOR
           
Appoint a Director Yamamoto, Jun
MGMT
FOR
FOR
           
Appoint a Director Ito, Tatsuya
MGMT
FOR
FOR
           
Appoint a Director Kobayashi, Osamu
MGMT
FOR
FOR
           
Appoint a Director Shibumura, Haruko
MGMT
FOR
FOR
           
Appoint a Director Kidokoro, Takuya
MGMT
FOR
FOR
           
Appoint a Director Fukuda, Mieko
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Nohara, Masaaki
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Kanitani, Tsutomu
MGMT
FOR
FOR
                   
SHINDENGEN ELECTRIC MANUFACTURING CO.,LTD.
29-Jun-2023
Annual General Meeting
46,800
6804541
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Tanaka, Nobuyoshi
MGMT
FOR
FOR
           
Appoint a Director Horiguchi, Kenji
MGMT
FOR
FOR
           
Appoint a Director Ukegawa, Osamu
MGMT
FOR
FOR
           
Appoint a Director Sasaki, Masahiro
MGMT
FOR
FOR
           
Appoint a Director Nishiyama, Yoshihiro
MGMT
FOR
FOR
           
Appoint a Director Kitadai, Yaeko
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Morita, Toshihide
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Chiba, Shoji
MGMT
FOR
FOR
                   
MIYAJI ENGINEERING GROUP,INC.
29-Jun-2023
Annual General Meeting
4,100
6687559
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Aota, Shigetoshi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Uehara, Tadashi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Ikeura, Masahiro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Hirase, Mayumi
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Ota, Hidemi
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Tsujikawa, Masato
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Higuchi, Masato
MGMT
FOR
FOR
           
Shareholder Proposal: Approve Appropriation of Surplus
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Disclosure of Individual Director Remuneration)
SHAREHOLDER
FOR
AGAINST
                   
THE BANK OF SAGA LTD.
29-Jun-2023
Annual General Meeting
61,300
6076447
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Jinnouchi, Yoshihiro
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Sakai, Hideaki
MGMT
AGAINST
AGAINST
           
Appoint a Director who is not Audit and Supervisory Committee Member Nakamura, Shinzaburo
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Unoike, Toru
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Yamasaki, Shigeyuki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Koso, Hiroshi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kuchiishi, Yoichiro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Noguchi, Makoto
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kanagae, Koji
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Tomiyoshi, Kentaro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Kono, Keiji
MGMT
FOR
FOR
                   
THE OKINAWA ELECTRIC POWER COMPANY,INCORPORATED
29-Jun-2023
Annual General Meeting
104,390
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 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 Yogi, Tatsuki
MGMT
FOR
FOR
           
Appoint a Director Nozaki, Seiko
MGMT
FOR
FOR
           
Appoint a Director Nagamine, Toyoyuki
MGMT
FOR
FOR
           
Appoint a Director Tamaki, Emi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Furusho, Miwa
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Suga, Takashi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Kamiya, Shigeru
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
JAPAN SMALLER CAPITALIZATION FUND, INC.

Company Name
Meeting Date
Meeting Type
Voted
Shares
SEDOL
  
Proposal
Proposed By
For/Against
MGMT
Vote
RINNAI CORPORATION
29-Jun-2023
Annual General Meeting
19,900
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 Shiraki, Hideyuki
MGMT
FOR
FOR
           
Appoint a Director Inoue, Kazuto
MGMT
FOR
FOR
           
Appoint a Director Matsui, Nobuyuki
MGMT
FOR
FOR
           
Appoint a Director Kamio, Takashi
MGMT
FOR
FOR
           
Appoint a Director Ogura, Tadashi
MGMT
FOR
FOR
           
Appoint a Director Dochi, Yoko
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Shimizu, Masanori
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Ishikawa, Yoshiro
MGMT
FOR
FOR
           
Shareholder Proposal: Approve Purchase of Own Shares
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to Handling Shares Held by Directors)
SHAREHOLDER
AGAINST
FOR
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to the Composition of Outside Directors)
SHAREHOLDER
AGAINST
FOR
                   
THE NANTO BANK,LTD.
29-Jun-2023
Annual General Meeting
32,800
6621524
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Increase the Board of Directors Size, Transition to a Company with Supervisory Committee
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Hashimoto, Takashi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Ishida, Satoshi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Yokotani, Kazuya
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Sugiura, Takeshi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Funaki, Ryuichiro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Honda, Koji
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Matsuzaka, Hidetaka
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Nakayama, Kozue
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Nishimura, Takashi
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Handa, Takao
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Aoki, Shuhei
MGMT
FOR
FOR
           
Appoint a Director who is Audit and Supervisory Committee Member Kasuya, Yoshihiko
MGMT
FOR
FOR
           
Appoint a Substitute Director who is Audit and Supervisory Committee Member Yasui, Kiyomi
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 Performance-based Stock Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members and Outside Directors)
MGMT
FOR
FOR
                   
STARTS CORPORATION INC.
29-Jun-2023
Annual General Meeting
58,800
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 Naoi, Tamotsu
MGMT
FOR
FOR
           
Appoint a Director Hasegawa, Takahiro
MGMT
FOR
FOR
           
Appoint a Director Muramatsu, Hisayuki
MGMT
FOR
FOR
           
Appoint a Director Takahashi, Naoko
MGMT
AGAINST
AGAINST
           
Appoint a Director Yamamoto, Yoshio
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Takaragaki, Kazuhiko
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Maehara, Yutaka
MGMT
AGAINST
AGAINST
           
Appoint a Corporate Auditor Aikyo, Shigenobu
MGMT
FOR
FOR
           
Approve Provision of Retirement Allowance for Retiring Directors
MGMT
AGAINST
AGAINST
                   
NIPPON SODA CO.,LTD.
29-Jun-2023
Annual General Meeting
17,600
6640585
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Aga, Eiji
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Watanabe, Atsuo
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Sasabe, Osamu
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Shimizu, Osamu
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Tsuchiya, Mitsuaki
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Watase, Yuko
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Meiga, Takayoshi
MGMT
FOR
FOR

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
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-2023
Annual General Meeting
258,300
6575944
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Reduce Term of Office of Directors to One Year, Adopt an Executive Officer System, Allow the Board of Directors to Authorize Appropriation of Surplus and Purchase Own Shares, Approve Minor Revisions
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 Karube, Jun
MGMT
FOR
FOR
           
Appoint a Director Ogura, Tadashi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Akita, Koichi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Tokuoka, Shigenobu
MGMT
FOR
FOR
           
Approve Details of the Restricted-Stock Compensation to be received by Directors
MGMT
AGAINST
AGAINST
           
Shareholder Proposal: Approve Purchase of Own Shares
SHAREHOLDER
FOR
AGAINST
           
Shareholder Proposal: Amend Articles of Incorporation (Amend the Articles Related to the Number of Outside Directors)
SHAREHOLDER
AGAINST
FOR
                   
DAI-DAN CO.,LTD.
29-Jun-2023
Annual General Meeting
27,300
6661735
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Kitano, Shohei
MGMT
AGAINST
AGAINST
           
Appoint a Director Fujisawa, Ichiro
MGMT
AGAINST
AGAINST
           
Appoint a Director Yamanaka, Yasuhiro
MGMT
FOR
FOR
           
Appoint a Director Sasaki, Hisao
MGMT
FOR
FOR
           
Appoint a Director Kamei, Yasuo
MGMT
FOR
FOR
           
Appoint a Director Matsubara, Fumio
MGMT
FOR
FOR
           
Appoint a Director Sato, Ikumi
MGMT
FOR
FOR
           
Appoint a Director Kosakai, Kenkichi
MGMT
FOR
FOR
           
Appoint a Substitute Corporate Auditor Isokawa, Takeshi
MGMT
FOR
FOR
                   
MIURA CO.,LTD.
29-Jun-2023
Annual General Meeting
98,200
6597777
  
Approve Appropriation of Surplus
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 Hiroi, Masayuki
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 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 Kawamoto, Kenichi
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 Yamauchi, Osamu
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
           
Appoint Accounting Auditors
MGMT
FOR
FOR
                   
KANDENKO CO.,LTD.
29-Jun-2023
Annual General Meeting
904,400
6483586
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Approve Minor Revisions
MGMT
FOR
FOR
           
Appoint a Director Fubasami, Seiichi
MGMT
FOR
FOR
           
Appoint a Director Nakama, Toshio
MGMT
FOR
FOR
           
Appoint a Director Iida, Nobuhiro
MGMT
FOR
FOR
           
Appoint a Director Ueda, Yuji
MGMT
FOR
FOR
           
Appoint a Director Fujii, Mitsuru
MGMT
FOR
FOR
           
Appoint a Director Enoki, Hiroyuki
MGMT
FOR
FOR
           
Appoint a Director Nakahito, Koichi
MGMT
FOR
FOR
           
Appoint a Director Tamogami, Hirofumi
MGMT
FOR
FOR
           
Appoint a Director Saito, Hajime
MGMT
FOR
FOR
           
Appoint a Director Ando, Miwako
MGMT
FOR
FOR
           
Appoint a Director Tanaka, Koji
MGMT
FOR
FOR
           
Appoint a Director Suto, Miwa
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Kashiwabara, Shoichiro
MGMT
FOR
FOR
           
Approve Payment of Bonuses to Directors
MGMT
AGAINST
AGAINST

PROXY VOTING REPORT
FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2023
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-2023
Annual General Meeting
99,600
6804433
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Amend Articles to: Approve Minor Revisions
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 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 not Audit and Supervisory Committee Member Yamaguchi, Takahiro
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Sano, Tadashi
MGMT
FOR
FOR
           
Appoint a Director who is not Audit and Supervisory Committee Member Todani, Minako
MGMT
FOR
FOR
           
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 Okabayashi, Masafumi
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
           
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 Restricted-Stock Compensation to be received by Directors (Excluding Outside Directors and Directors who are Audit and Supervisory Committee Members)
MGMT
FOR
FOR
                   
NIPPON SHINYAKU CO.,LTD.
29-Jun-2023
Annual General Meeting
52,300
6640563
  
Approve Appropriation of Surplus
MGMT
FOR
FOR
           
Appoint a Director Maekawa, Shigenobu
MGMT
FOR
FOR
           
Appoint a Director Nakai, Toru
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 Takagaki, Kazuchika
MGMT
FOR
FOR
           
Appoint a Director Ishizawa, Hitoshi
MGMT
FOR
FOR
           
Appoint a Director Kimura, Hitomi
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
           
Appoint a Director Nishi, Mayumi
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Ito, Hirotsugu
MGMT
FOR
FOR
           
Appoint a Corporate Auditor Hara, Hiroharu
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 24, 2023