Japan Smaller Capitalization Fund
Sponsor: Nomura · Inception Mar 14, 1990 · Pays monthly
Market priceShare price
$11.94
-1.16% ($-0.14)
NAVAsset value per share
$13.81
as of Feb 28, 2026 · SEC filing
Premium / discountPrice vs. assets
13.54% discount *
Indicative: latest price vs latest reported NAV
Distribution rate (price)Payout rate
9.61%
regular, annualised · on NAV 8.31%
Expense ratioAnnual cost
Not reported
no tagged fee table
LeverageBorrowing
Not reported
senior securities not tagged
Quote status: 15-minute delayed · last trade Oct 16, 2026, 12:59 PM EDT (exchange time, ET) · retrieved Oct 16, 2026, 1:00 PM EDTRegular-session prices; extended-hours quotes are not displayed.
Full portfolio as filed on SEC Form N-PORT for the month ending May 31, 2026, filed Jul 16, 2026. 91 positions; weights are percent of net assets as reported. Weights sum to 100.0% — leverage, cash, derivatives and short positions mean totals need not equal 100%. This is a historical report, not a live portfolio.
Top 10 holdings
| # | Security | Type | Country | Weight | Value (USD) |
|---|---|---|---|---|---|
| 1 | SAKATA INX CORP /JPY/ | Equity | Japan | 5.93% | $21M |
| 2 | DAISHI HOKUETSU FINANCIA /JPY/ | Equity | Japan | 4.00% | $14.1M |
| 3 | CITIZEN WATCH CO LTD /JPY/ | Equity | Japan | 3.70% | $13.1M |
| 4 | MUSASHINO BANK LTD/THE /JPY/ | Equity | Japan | 3.10% | $11M |
| 5 | YONDENKO CORP /JPY/ | Equity | Japan | 2.86% | $10.1M |
| 6 | THK CO LTD /JPY/ | Equity | Japan | 2.46% | $8.7M |
| 7 | RYODEN CORP /JPY/ | Equity | Japan | 2.41% | $8.5M |
| 8 | TEKSCEND PHOTOMASK CORP /JPY/ | Equity | Japan | 2.41% | $8.5M |
| 9 | ASIA PILE HOLDINGS CORP /JPY/ | Equity | Japan | 2.40% | $8.5M |
| 10 | NIPPON SEIKI CO LTD /JPY/ | Equity | Japan | 1.99% | $7M |
Asset class
| Asset class | % net assets | Value |
|---|---|---|
| Equity (common) | 100.00% | $354M |
Country (top 12)
| Country (top 12) | % net assets | Value |
|---|---|---|
| Japan | 100.00% | $354M |
Region
| Region | % net assets | Value |
|---|---|---|
| Japan | 100.00% | $354M |
Issuer type
| Issuer type | % net assets | Value |
|---|---|---|
| Corporate | 100.00% | $354M |
Fair-value level
| Fair-value level | % net assets | Value |
|---|---|---|
| Level 1 | 100.00% | $354M |
Level 3 = valued with unobservable inputs (typically private or illiquid).
Long / short
| Long / short | % net assets | Value |
|---|---|---|
| Long | 100.00% | $354M |
All allocation percentages use net assets as the denominator (N-PORT convention). A position's share of invested assets may differ from its share of the whole fund including cash and leverage.
All 91 positions
| Security | Identifier | Type | Issuer | Country | Balance | Units | Value (USD) | Weight | FV level |
|---|---|---|---|---|---|---|---|---|---|
| SAKATA INX CORP /JPY/ | J66661125 | Equity | CORP | Japan | 1,422,800 | shares | $21M | 5.93% | 1 |
| DAISHI HOKUETSU FINANCIA /JPY/ | J10795102 | Equity | CORP | Japan | 1,114,300 | shares | $14.1M | 4.00% | 1 |
| CITIZEN WATCH CO LTD /JPY/ | J0793Q103 | Equity | CORP | Japan | 900,000 | shares | $13.1M | 3.70% | 1 |
| MUSASHINO BANK LTD/THE /JPY/ | J46883104 | Equity | CORP | Japan | 721,500 | shares | $11M | 3.10% | 1 |
| YONDENKO CORP /JPY/ | J72036106 | Equity | CORP | Japan | 824,600 | shares | $10.1M | 2.86% | 1 |
| THK CO LTD /JPY/ | J83345108 | Equity | CORP | Japan | 181,300 | shares | $8.7M | 2.46% | 1 |
| RYODEN CORP /JPY/ | J65715120 | Equity | CORP | Japan | 358,100 | shares | $8.5M | 2.41% | 1 |
| TEKSCEND PHOTOMASK CORP /JPY/ | J82885104 | Equity | CORP | Japan | 295,100 | shares | $8.5M | 2.41% | 1 |
| ASIA PILE HOLDINGS CORP /JPY/ | J28007102 | Equity | CORP | Japan | 846,500 | shares | $8.5M | 2.40% | 1 |
| NIPPON SEIKI CO LTD /JPY/ | J55483101 | Equity | CORP | Japan | 421,300 | shares | $7M | 1.99% | 1 |
| BUYSELL TECHNOLOGIES CO /JPY/ | J04863106 | Equity | CORP | Japan | 271,200 | shares | $7M | 1.97% | 1 |
| SANGETSU CORPORATION /JPY/ | J67177105 | Equity | CORP | Japan | 370,600 | shares | $6.7M | 1.91% | 1 |
| SAKAI CHEMICAL INDUSTRY /JPY/ | J66489121 | Equity | CORP | Japan | 215,100 | shares | $6.7M | 1.89% | 1 |
| GMO INTERNET GROUP INC /JPY/ | J1822R104 | Equity | CORP | Japan | 322,900 | shares | $6.7M | 1.88% | 1 |
| NORITAKE CO LTD /JPY/ | J59052118 | Equity | CORP | Japan | 268,400 | shares | $6.6M | 1.87% | 1 |
| KANADEN CORP /JPY/ | J29524105 | Equity | CORP | Japan | 359,600 | shares | $6M | 1.69% | 1 |
| SANSEI TECHNOLOGIES INC /JPY/ | J68295104 | Equity | CORP | Japan | 343,400 | shares | $5.9M | 1.67% | 1 |
| RESTAR CORP /JPY/ | J6450H104 | Equity | CORP | Japan | 230,000 | shares | $5.9M | 1.66% | 1 |
| IDEC CORP /JPY/ | J23274111 | Equity | CORP | Japan | 260,100 | shares | $5.7M | 1.60% | 1 |
| YAMABIKO CORP /JPY/ | J95558102 | Equity | CORP | Japan | 223,900 | shares | $5.5M | 1.56% | 1 |
| SANYO SHOKAI LTD /JPY/ | J69198109 | Equity | CORP | Japan | 212,000 | shares | $5M | 1.40% | 1 |
| KOMATSU WALL INDUSTRY CO /JPY/ | J35867100 | Equity | CORP | Japan | 315,400 | shares | $4.9M | 1.38% | 1 |
| OKI ELECTRIC INDUSTRY CO /JPY/ | J60772100 | Equity | CORP | Japan | 213,900 | shares | $4.8M | 1.35% | 1 |
| ULVAC INC /JPY/ | J94048105 | Equity | CORP | Japan | 78,100 | shares | $4.7M | 1.32% | 1 |
| SWCC CORP /JPY/ | J7863E100 | Equity | CORP | Japan | 49,500 | shares | $4.6M | 1.30% | 1 |
| KUMAGAI GUMI CO LTD /JPY/ | J36705150 | Equity | CORP | Japan | 510,000 | shares | $4.6M | 1.29% | 1 |
| HORIBA LTD /JPY/ | J22428106 | Equity | CORP | Japan | 25,800 | shares | $4.3M | 1.20% | 1 |
| S & B FOODS INC /JPY/ | J69843100 | Equity | CORP | Japan | 117,900 | shares | $4.2M | 1.18% | 1 |
| VISION INC/TOKYO JAPAN /JPY/ | J9458U101 | Equity | CORP | Japan | 609,100 | shares | $4.1M | 1.15% | 1 |
| JINUSHI CO LTD /JPY/ | J52776101 | Equity | CORP | Japan | 219,500 | shares | $4M | 1.13% | 1 |
| JM HOLDINGS CO LTD /JPY/ | J2789W102 | Equity | CORP | Japan | 497,700 | shares | $4M | 1.12% | 1 |
| TSUMURA & CO /JPY/ | J93407120 | Equity | CORP | Japan | 164,200 | shares | $3.9M | 1.11% | 1 |
| CREDIT SAISON CO LTD /JPY/ | J7007M109 | Equity | CORP | Japan | 152,100 | shares | $3.9M | 1.11% | 1 |
| TSUZUKI DENKI CO LTD /JPY/ | J9358G103 | Equity | CORP | Japan | 148,600 | shares | $3.8M | 1.08% | 1 |
| FERROTEC CORP /JPY/ | J1347N109 | Equity | CORP | Japan | 69,400 | shares | $3.8M | 1.07% | 1 |
| TAIKISHA LTD /JPY/ | J79389102 | Equity | CORP | Japan | 133,900 | shares | $3.8M | 1.06% | 1 |
| TOHOKU ELECTRIC POWER CO /JPY/ | J85108108 | Equity | CORP | Japan | 584,900 | shares | $3.7M | 1.05% | 1 |
| FUTURE ARCHITECT INC /JPY/ | J16832107 | Equity | CORP | Japan | 365,700 | shares | $3.7M | 1.03% | 1 |
| NABTESCO CORP /JPY/ | J4707Q100 | Equity | CORP | Japan | 99,700 | shares | $3.5M | 0.98% | 1 |
| ROHTO PHARMACEUTICAL CO /JPY/ | J65371106 | Equity | CORP | Japan | 226,400 | shares | $3.4M | 0.96% | 1 |
| G TEKT CORP /JPY/ | J32653107 | Equity | CORP | Japan | 236,700 | shares | $3.3M | 0.93% | 1 |
| KYOKUTO KAIHATSU KOGYO /JPY/ | J3775L100 | Equity | CORP | Japan | 236,500 | shares | $3.3M | 0.92% | 1 |
| TOWA CORP /JPY/ | J9042T107 | Equity | CORP | Japan | 168,700 | shares | $3.2M | 0.90% | 1 |
| MIRAIT ONE CORP /JPY/ | J4307G106 | Equity | CORP | Japan | 128,700 | shares | $3.2M | 0.90% | 1 |
| KYORITSU MAINTENANCE CO /JPY/ | J37856101 | Equity | CORP | Japan | 200,500 | shares | $3.2M | 0.89% | 1 |
| MIURA CO LTD /JPY/ | J45593100 | Equity | CORP | Japan | 150,600 | shares | $3M | 0.86% | 1 |
| MORITA HOLDINGS CORPORATION /JPY/ | J46604104 | Equity | CORP | Japan | 192,500 | shares | $3M | 0.84% | 1 |
| MIZUHO LEASING CO /JPY/ | J2308V106 | Equity | CORP | Japan | 353,000 | shares | $2.9M | 0.82% | 1 |
| CENTRAL AUTOMOTIVE PRODU /JPY/ | J05418108 | Equity | CORP | Japan | 216,800 | shares | $2.8M | 0.81% | 1 |
| ASKUL CORP /JPY/ | J03325107 | Equity | CORP | Japan | 384,100 | shares | $2.8M | 0.80% | 1 |
| TOKYO KIRABOSHI FINANCIA /JPY/ | J9370A100 | Equity | CORP | Japan | 38,900 | shares | $2.8M | 0.79% | 1 |
| HAMAKYOREX CO LTD /JPY/ | J1825T107 | Equity | CORP | Japan | 220,500 | shares | $2.6M | 0.74% | 1 |
| SIGMAXYZ HOLDINGS INC /JPY/ | J7550V100 | Equity | CORP | Japan | 712,700 | shares | $2.5M | 0.70% | 1 |
| NS GROUP INC /JPY/ | J5928M109 | Equity | CORP | Japan | 260,000 | shares | $2.4M | 0.67% | 1 |
| MORINAGA & CO LTD /JPY/ | J46367108 | Equity | CORP | Japan | 152,200 | shares | $2.4M | 0.67% | 1 |
| TOKYOTOKEIBA CO LTD /JPY/ | J88462106 | Equity | CORP | Japan | 80,000 | shares | $2.4M | 0.67% | 1 |
| RAKUTEN BANK LTD /JPY/ | J6S87A100 | Equity | CORP | Japan | 80,000 | shares | $2.3M | 0.66% | 1 |
| STEP CO LTD /JPY/ | J7674N109 | Equity | CORP | Japan | 164,000 | shares | $2.3M | 0.65% | 1 |
| DAIKO XTECH LTD /JPY/ | J10122109 | Equity | CORP | Japan | 357,100 | shares | $2.3M | 0.64% | 1 |
| QOL HOLDINGS CO LTD /JPY/ | J64663107 | Equity | CORP | Japan | 193,600 | shares | $2.2M | 0.63% | 1 |
| NISHIMATSU CONSTRUCTION /JPY/ | J56730120 | Equity | CORP | Japan | 63,900 | shares | $2.2M | 0.62% | 1 |
| NIHON TOKUSHU TORYO CO L /JPY/ | J51054104 | Equity | CORP | Japan | 143,200 | shares | $2.1M | 0.60% | 1 |
| NISHIKAWA RUBBER CO LTD /JPY/ | J5671T103 | Equity | CORP | Japan | 106,700 | shares | $2.1M | 0.59% | 1 |
| COSMO ENERGY HOLDINGS CO /JPY/ | J08906109 | Equity | CORP | Japan | 88,200 | shares | $2.1M | 0.59% | 1 |
| TPR CO LTD /JPY/ | J82528100 | Equity | CORP | Japan | 227,300 | shares | $2M | 0.56% | 1 |
| WORLD CO LTD /JPY/ | J95171120 | Equity | CORP | Japan | 206,800 | shares | $1.9M | 0.55% | 1 |
| NIPPON SODA CO LTD /JPY/ | J55870109 | Equity | CORP | Japan | 83,100 | shares | $1.9M | 0.54% | 1 |
| NIPPON AVIONICS CO LTD /JPY/ | J52000106 | Equity | CORP | Japan | 50,000 | shares | $1.8M | 0.52% | 1 |
| KOMEHYO HOLDINGS CO LTD /JPY/ | J3589F109 | Equity | CORP | Japan | 50,100 | shares | $1.8M | 0.51% | 1 |
| GEO HOLDINGS CORPORATION /JPY/ | J17768102 | Equity | CORP | Japan | 134,500 | shares | $1.8M | 0.51% | 1 |
| MACNICA FUJI ELECTRONICS /JPY/ | J3923S106 | Equity | CORP | Japan | 91,600 | shares | $1.8M | 0.51% | 1 |
| RELO HOLDINGS INC /JPY/ | J6436W118 | Equity | CORP | Japan | 147,700 | shares | $1.7M | 0.48% | 1 |
| MODEC INC /JPY/ | J4636K109 | Equity | CORP | Japan | 26,900 | shares | $1.7M | 0.48% | 1 |
| VISIONAL INC /JPY/ | J94590106 | Equity | CORP | Japan | 29,900 | shares | $1.5M | 0.42% | 1 |
| HI-LEX CORP /JPY/ | J20749107 | Equity | CORP | Japan | 90,700 | shares | $1.4M | 0.40% | 1 |
| ARE HOLDINGS INC /JPY/ | J02773109 | Equity | CORP | Japan | 66,400 | shares | $1.4M | 0.40% | 1 |
| TACHIBANA ELETECH CO LTD /JPY/ | J78744109 | Equity | CORP | Japan | 65,800 | shares | $1.3M | 0.37% | 1 |
| NICHIRIN CO LTD /JPY/ | J4983T109 | Equity | CORP | Japan | 49,300 | shares | $1.3M | 0.36% | 1 |
| KOSHIDAKA HOLDINGS CO LT /JPY/ | J36577104 | Equity | CORP | Japan | 208,300 | shares | $1.2M | 0.35% | 1 |
| SUNCALL CORP /JPY/ | J67683102 | Equity | CORP | Japan | 110,000 | shares | $1.2M | 0.33% | 1 |
| SUMITOMO OSAKA CEMENT CO /JPY/ | J77734101 | Equity | CORP | Japan | 34,300 | shares | $1.2M | 0.33% | 1 |
| YAMAICHI ELECTRONICS CO /JPY/ | J95820106 | Equity | CORP | Japan | 20,000 | shares | $1.1M | 0.31% | 1 |
| TOEI ANIMATION CO LTD /JPY/ | J84453109 | Equity | CORP | Japan | 71,600 | shares | $1.1M | 0.30% | 1 |
| S FOODS INC /JPY/ | J7T34B109 | Equity | CORP | Japan | 61,000 | shares | $1M | 0.29% | 1 |
| TOBU RAILWAY CO LTD /JPY/ | J84162148 | Equity | CORP | Japan | 58,500 | shares | $1M | 0.29% | 1 |
| NICHIHA CORP /JPY/ | J53892105 | Equity | CORP | Japan | 54,000 | shares | $1M | 0.29% | 1 |
| H I S CO LTD /JPY/ | J20087102 | Equity | CORP | Japan | 112,100 | shares | $737K | 0.21% | 1 |
| QUANTS RESEARCH INSTITUT /JPY/ | J3971G103 | Equity | CORP | Japan | 126,100 | shares | $699K | 0.20% | 1 |
| COVER CORP /JPY/ | J0R95K102 | Equity | CORP | Japan | 48,800 | shares | $490K | 0.14% | 1 |
| OSAKA SODA CO LTD /JPY/ | J62707104 | Equity | CORP | Japan | 40,000 | shares | $472K | 0.13% | 1 |
| NIPPN CORP /JPY/ | J5179A101 | Equity | CORP | Japan | 22,300 | shares | $373K | 0.11% | 1 |
Equities show share counts; bonds and loans show principal amount. Coupon, maturity and ratings are shown where the filing discloses them. Source: SEC N-PORT via market-data vendor re-serve, position-level.
Holdings reports on file
| Report date | Filed | Positions | Σ weight | Net assets (calc.) | Coverage |
|---|---|---|---|---|---|
| May 31, 2026 | Jul 16, 2026 | 91 | 100.0% | $354M | full |
| Feb 28, 2026 | Apr 28, 2026 | 88 | 100.0% | $384M | full |
| Nov 30, 2025 | Jan 15, 2026 | 90 | 100.0% | $331M | full |
Net assets here are calculated from position values ÷ reported weights (median across positions), not a reported figure.
CEF Explorer research page for Japan Smaller Capitalization Fund Inc. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.