-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000905148-07-007254.txt : 20071228
<SEC-HEADER>0000905148-07-007254.hdr.sgml : 20071228
<ACCEPTANCE-DATETIME>20071228161617
ACCESSION NUMBER:		0000905148-07-007254
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20071227
FILED AS OF DATE:		20071228
DATE AS OF CHANGE:		20071228

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JAPAN SMALLER CAPITALIZATION FUND INC
		CENTRAL INDEX KEY:			0000859796
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				133553469
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Tan Chor Weng
		CENTRAL INDEX KEY:			0001322945

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05992
		FILM NUMBER:		071332166

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		212 667 9300

	MAIL ADDRESS:	
		STREET 1:		NOMURA ASSET MANAGEMENT USA INC., TWO
		STREET 2:		WORLD FINANCIAL CENTER, BUILDING B
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>efc7-2721_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-12-27</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000859796</issuerCik>
        <issuerName>JAPAN SMALLER CAPITALIZATION FUND INC</issuerName>
        <issuerTradingSymbol>JOF</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001322945</rptOwnerCik>
            <rptOwnerName>Tan Chor Weng</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>NOMURA ASSET MANAGEMENT USA INC., TWO</rptOwnerStreet1>
            <rptOwnerStreet2>WORLD FINANCIAL CENTER, BUILDING B</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10281</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-12-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>9.46</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3340</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Spouse</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <remarks>Power of Attorney attached.</remarks>

    <ownerSignature>
        <signatureName>/s/ Rita Chopra-Brathwaite</signatureName>
        <signatureDate>2007-12-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>efc7-2721_emailex991.txt
<TEXT>
                                                                    Exhibit 99.1


                                POWER OF ATTORNEY


     The undersigned, as a Director and/or officer of each of the registered
investment companies listed below, hereby authorizes Kenneth L. Munt, Neil A.
Daniele, and Rita Chopra-Brathwaite or any of them, as attorney-in-fact, to sign
on his behalf on any form, or any amendment to such form, required to be filed
by the undersigned pursuant to the reporting requirements of Section 16(a) of
the Securities Exchange Act of 1934 due to their capacity as a Director and/or
officer for each of the following registered investment companies and to file,
at the request of the undersigned, the same, with all exhibits thereto, with the
Securities and Exchange Commission: Korea Equity Fund, Inc. and Japan Smaller
Capitalization Fund, Inc. This Power of Attorney shall remain in effect through
January 31, 2008 unless otherwise terminated.

Dated: February 1, 2007

/s/ Chor Weng Tan
- -----------------
    Chor Weng Tan
    Print Name


/s/ Kenneth L. Munt
- -------------------
Kennet L. Munt

/s/ Neil A. Daniele
- -------------------
Neil A. Daniele

/s/ Rita Chopra-Brathwaite
- --------------------------
Rita Chopra-Brathwaite

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