-----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,
 AO82Ua4tpRFb1lEzn4vjmLRXjwHk3ai0uTdx3FhsJ9Xub4zUU7jWD5E9zsivpWE8
 TtwCtc8qyNwk6Rm+u8uuyg==

<SEC-DOCUMENT>0000905148-08-002182.txt : 20080407
<SEC-HEADER>0000905148-08-002182.hdr.sgml : 20080407
<ACCEPTANCE-DATETIME>20080407122446
ACCESSION NUMBER:		0000905148-08-002182
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080401
FILED AS OF DATE:		20080407
DATE AS OF CHANGE:		20080407

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:			Yoshikawa Atsushi
		CENTRAL INDEX KEY:			0001431231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05992
		FILM NUMBER:		08742261

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		2126671858

	MAIL ADDRESS:	
		STREET 1:		TWO WORLD FINANCIAL CENTER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>efc8-0720_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2008-04-01</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001431231</rptOwnerCik>
            <rptOwnerName>Yoshikawa Atsushi</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>TWO WORLD FINANCIAL CENTER</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10281</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>see Remarks</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>None</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <remarks>President of Adviser to JOF, Nomura Asset Management Co., Ltd.</remarks>

    <ownerSignature>
        <signatureName>/s/ Neil A. Daniele</signatureName>
        <signatureDate>2008-04-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>efc8-0720_ex24.txt
<TEXT>
                                POWER OF ATTORNEY


         The undersigned, as a Director and/or officer of each of the registered
investment companies listed below, hereby authorizes Shigeru Shinohara, Neil A.
Daniele, and Jun Arima 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 full force and
effect until the undersigned is no longer required to file Forms 3, 4, and 5
with respect to the undersigned's holdings of and transactions in securities
issued by Korea Equity Fund, Inc. or Japan Smaller Capitalization Fund, Inc.,
unless earlier revoked by the undersigned in a signed writing delivered to the
foregoing attorneys-in-fact.

Dated:  April 1, 2008





/s/ Atsushi Yoshikawa
- --------------------------------
   Director/Officer Signature




         Atsushi Yoshikawa
- --------------------------------




/s/ Shigeru Shinohara
- --------------------------------
Shigeru Shinohara




/s/ Jun Arima
- --------------------------------
Jun Arima




/s/ Neil A. Daniele
- --------------------------------
Neil A. Daniele
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
