-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 GZykAeEo08Up/U926Z22BIOIC+t3x+f7ouFLenBTGchs1Mo3CGw1WOoQP3jpLCd8
 5yiczbzyqjv30gbu7ppVgA==

<SEC-DOCUMENT>0000905148-08-003733.txt : 20080917
<SEC-HEADER>0000905148-08-003733.hdr.sgml : 20080917
<ACCEPTANCE-DATETIME>20080917165431
ACCESSION NUMBER:		0000905148-08-003733
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080915
FILED AS OF DATE:		20080917
DATE AS OF CHANGE:		20080917

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Buck Rodney A
		CENTRAL INDEX KEY:			0001373922

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05992
		FILM NUMBER:		081076586

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		2126671414

	MAIL ADDRESS:	
		STREET 1:		TWO WORLD FINANCIAL CENTER
		STREET 2:		22ND FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281

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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>efc8-1239_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-09-15</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001373922</rptOwnerCik>
            <rptOwnerName>Buck Rodney A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1857 WEST COUNTRY ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CALLAS</rptOwnerCity>
            <rptOwnerState>VT</rptOwnerState>
            <rptOwnerZipCode>05648</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>2008-09-15</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>7.40</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

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

    <ownerSignature>
        <signatureName>/s/ Rita Chopra-Brathwaite</signatureName>
        <signatureDate>2008-09-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>efc8-1239_6745016ex24.txt
<TEXT>
                                                                    Exhibit 24



                               POWER OF ATTORNEY


         The undersigned, as a Director and/or officer of each of the
registered investment companies listed below, hereby authorizes Kenneth 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 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:  February 14, 2008



/s/  Rodney A. Buck
- -----------------------------------------------
        Director/Officer Signature


             Rodney A. Buck


/s/ Kenneth Munt
- -----------------------------------------------
Kenneth Munt


/s/ Neil Daniele
- -----------------------------------------------
Neil Daniele


/s/ Rita Chopra-Brathwaite
- -----------------------------------------------
Rita Chopra-Brathwaitee
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
