<SEC-DOCUMENT>0001207017-15-000017.txt : 20150204
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<ACCEPTANCE-DATETIME>20150204155808
ACCESSION NUMBER:		0001207017-15-000017
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20150204
DATE AS OF CHANGE:		20150204

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:			0228

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-59337
		FILM NUMBER:		15575357

	BUSINESS ADDRESS:	
		STREET 1:		WORLDWIDE PLAZA
		STREET 2:		309 WEST 49TH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		8008330018

	MAIL ADDRESS:	
		STREET 1:		WORLDWIDE PLAZA
		STREET 2:		309 WEST 49TH STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LAZARD ASSET MANAGEMENT LLC
		CENTRAL INDEX KEY:			0001207017
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		30 ROCKEFELLER PLZ
		STREET 2:		55TH FL.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10112
		BUSINESS PHONE:		2126321890

	MAIL ADDRESS:	
		STREET 1:		30 ROCKEFELLER PLZ
		STREET 2:		55TH FL.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10112
</SEC-HEADER>
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<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>r13gajapansmallcap.htm
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<B><P ALIGN="CENTER">SCHEDULE 13G/A</P>
</B><P>CUSIP No: <U>47109U104</P>
</U><P>1)<B>NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: </B><U>Lazard Asset Management LLC</P>
</U><P>2)<B>CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP&#9;</B>(a)<FONT FACE="Wingdings">o</FONT> (b)<FONT FACE="Wingdings">o</FONT> </P>
<P>3)<B>SEC USE ONLY</P>
</B><P>4)<B>CITIZENSHIP OR PLACE OF ORGANIZATION: </B><U>Delaware</P>
</U><B><P>NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:</P><DIR>
<DIR>

</B><P>5)<B>SOLE VOTING POWER: </B><U>2,284,416</P>
</U><P>6)<B>SHARED VOTING POWER: </B><U>-</P>
</U><P>7)<B>SOLE DISPOSITIVE POWER: </B><U>2,284,416</P>
</U><P>8)<B>SHARED DISPOSITIVE POWER: </B><U>-</P>
</U><P>9)<B>AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</B><U>: 2,284,416</P>
</U><P>10)<B>CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES</B>&#9;<FONT FACE="Wingdings">o</FONT> </P>
<P>11)<B>PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): </B><U>8.06%</P>
</U><P>12)<B>TYPE OF REPORTING PERSON: </B><U>IA</P></DIR>
</DIR>

</U><B><P>Item 1(a).&#9;Name of Issuer:</P>
</B><P>Japan Smaller Capitalization Fund Inc</P>
<B><P>Item 1(b).&#9;Address of Issuer's Principal Executive Offices:</P>
</B><P>c/o Nomura Asset Management USA Inc</P>
<P>Japan Smaller Capitalization Fund Inc</P>
<P>2 WFC, Building B, 22nd Floor</P>
<P>New York, NY 10281</P>

<B><P>Item 2(a).&#9;Name of Person Filing: </B><U>Lazard Asset Management LLC</P>
</U><B><P>Item 2(b).&#9;Address of Principal Business Office or, if None, Residence:</P>
</B><P>30 Rockefeller Plaza</P>
<P>New York, New York 10112</P>
<B><P>Item 2(c):Citizenship: </B><U>Delaware Limited Liability Company</P>
</U><B><P>Item 2(d):Title of Class of Securities: </B><U>Closed End Fund</P>
</U><B><P>Item 2(e):CUSIP Number: </B><U>47109U104</P>

</U><B><P>Item 3:If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b), check whether the person filing is a:</P>
</B><FONT FACE="Wingdings"><P>o</FONT> (a) Broker or Dealer Registered Under Section 15 of the Act</P></DIR>
</DIR>
</DIR>


<UL>

<UL>
<LI>(e) Investment Adviser registered under section 203 of the Investment Advisers&#9;Act of 1940</LI></UL>
</UL>

<B><P>Item 4: Ownership.</P><DIR>
<DIR>
<DIR>

</B><P>(a)Amount beneficially owned: <U>2,284,416</P>
</U><P>(b)percent of class: <U>8.06%</P>
</U><P>(c)Number of shares as to which such person has:</P><DIR>
<DIR>
<DIR>

<P>(i)Sole power to vote or to direct the vote: <U>2,284,416</P>
</U><P>(ii)Shared power to vote or to direct the vote:<U>-</P>
</U><P>(iii)Sole power to dispose or to direct the disposition of: <U>2,284,416</P>
</U><P>(iv)Shared power to dispose or to direct the disposition of:<U>-</P></DIR>
</DIR>
</DIR>
</DIR>
</DIR>
</DIR>

</U><B><P>Item 5:Ownership of Five Percent or More of a Class: </B><U>Not applicable</P>
</U><B><P>Item 6:Ownership of More than Five Percent on Behalf of Another Person:</B> <U>Not applicable</U></P>

<B><P>Item 7:Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company: </B><U>Not applicable</P>

</U><B><P>Item 8:Identification and Classification of Members of the Group: </B><U>Not applicable</P>

</U><B><P>Item 9:Notice of Dissolution of Group:</B><U>Not applicable</P>

</U><B><P>Item 10:Certification.</P><DIR>
<DIR>

</B><P>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purposes or effect.</P></DIR>
</DIR>

<B><U><P>SIGNATURE</P><DIR>
<DIR>

</B></U><P>After reasonable inquiry and to the best knowledge and belief of the undersigned, the undersigned certifies that the information set forth in this Statement is true, complete and correct.</P></DIR>
</DIR>

<P>Date: December 31, 2014</P>
<P>_________________________</P>
<P>Mark Anderson</P>
<P>Chief Compliance Officer</P></BODY>
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