-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 C1sgF1ckQNvnGXLeA3/GoowOLk+vS4MLhh6CmSBvmsYJFMtGnZwdh21opWkOl1xE
 rO3MWBGkfi3T16QRiqUdjQ==

<SEC-DOCUMENT>0000883511-05-000009.txt : 20050829
<SEC-HEADER>0000883511-05-000009.hdr.sgml : 20050829
<ACCEPTANCE-DATETIME>20050829122800
ACCESSION NUMBER:		0000883511-05-000009
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20050829
DATE AS OF CHANGE:		20050829

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JAPAN SMALLER CAPITALIZATION FUND INC
		CENTRAL INDEX KEY:			0000859796
		IRS NUMBER:				133553469
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-59337
		FILM NUMBER:		051054165

	BUSINESS ADDRESS:	
		STREET 1:		2 WORLD FINANCIAL CENTER
		STREET 2:		BUILDING B, 22ND FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281-1712
		BUSINESS PHONE:		8008330018

	MAIL ADDRESS:	
		STREET 1:		2 WORLD FINANCIAL CENTER
		STREET 2:		BUILDING B, 22ND FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281-1712

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	JAPAN OTC EQUITY FUND INC
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DUDLEY & SHANLEY, LLC
		CENTRAL INDEX KEY:			0000883511
		IRS NUMBER:				133324085

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		130 MAPLE AVENUE
		STREET 2:		SUITE EB2
		CITY:			RED BANK
		STATE:			NJ
		ZIP:			07701
		BUSINESS PHONE:		7329361030

	MAIL ADDRESS:	
		STREET 1:		130 MAPLE AVENUE
		STREET 2:		SUITE EB2
		CITY:			RED BANK
		STATE:			NJ
		ZIP:			07701

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DUDLEY & CO LLC
		DATE OF NAME CHANGE:	20030821

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DUDLEY & CO LLC /NY
		DATE OF NAME CHANGE:	19990406

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DUDLEY & CO
		DATE OF NAME CHANGE:	19980601
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>sc13g-jof.txt
<DESCRIPTION>SCHEDULE 13-G JOF
<TEXT>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


SCHEDULE 13G


Under the Securities Exchange Act of 1934



Japan Smaller Capitalization Fund, Inc.
(Name of Issuer)

Closed-end Fund traded on NYSE
(Title of Class of Securities)

47109U104
(CUSIP Number)


July 29, 2004
(Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

	___	Rule 13d-1(b)

	_X_	Rule 13d-1(c)

	___	Rule 13d-1(d)


*  The remainder of this cover page shall be filled out for a reporting
persons initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not
be deemed to be filed for the purpose of Section 18 of the Securities
Exchange Act of 1934 (Act) or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).



CUSIP No.   47109U104


1.	Names of Reporting Persons
	I.R.S. Identification Nos. of above persons (entities only).

	Dudley & Shanley, LLC		Tax I.D.: 13-3324085

2.	Check the Appropriate Box if a Member of a Group (see
      Instructions)

	(a)

	(b)  X

3.	SEC Use Only


4.	Citizenship or Place of Organization

	State of Delaware, U.S.A.

Number of Shares Beneficially Owned by Each Reporting Person With:


5.	Sole Voting Power 		831,000

6.	Shared Voting Power		 68,000

7.	Sole Dispositive Power	      831,000

8.	Shared Dispositive Power	 68,000

9.	Aggregate Amount Beneficially Owned by Each Reporting Person

	899,000 shares

10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares

11.	Percent of Class Represented by Amount in Row (9)

	5.7%

12.	Type of Reporting Person

	IA


Item 1.

(a) Japan Smaller Capitalization Fund, Inc.
(b) 2 World Financial Center, Building B, 22nd Floor, New York, NY 10281-1712

Item 2.

(a) Dudley & Shanley, LLC
(b) 130 Maple Avenue, Suite EB2, Red Bank, NJ 07701
(c) Delaware, U.S.A.
(d) Closed-end Fund traded on NYSE
(e) 47109U104

Item 3.  If this statement is filed pursuant to Rule 240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:

	Not applicable

Item 4.  Ownership

(a) 899,000 shares
(b) 5.7%
(i)   831,000
(ii)   68,000
(iii) 831,000
(iv)   68,000

Item 5.	Ownership of Five Percent or Less of a Class

	Not applicable

Item 6.	Ownership of More than Five Percent on Behalf of Another Person.

	The clients whose investment accounts are managed by Dudley &
Shanley, LLC have the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of, the
subject security.  No one client, however, has an interest in more
than five percent of the class.

Item 7.	Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding Company

	Not applicable

Item 8.	Identification and Classification of Members of the Group

	Not applicable

Item 9.	Notice Dissolution of Group

	Not applicable

Item 10.  Certification

By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control
of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that
purpose or effect.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true,
complete and correct.


August 29, 2005
Date


/s/ FRANK E. SHANLEY, Manager
Signature, Title
















</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
