<SEC-DOCUMENT>0000905148-20-000405.txt : 20200304
<SEC-HEADER>0000905148-20-000405.hdr.sgml : 20200304
<ACCEPTANCE-DATETIME>20200304144659
ACCESSION NUMBER:		0000905148-20-000405
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200227
ITEM INFORMATION:		Changes in Registrant's Certifying Accountant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200304
DATE AS OF CHANGE:		20200304

FILER:

	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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05992
		FILM NUMBER:		20686786

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>efc20-278_8k.htm
<TEXT>
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        <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
        <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
        <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
        <div style="padding-top: 1pt;">
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        </div>
        <div style="text-align: center; font-weight: bold;"> <br>
        </div>
        <div style="text-align: center; font-size: 18pt; font-weight: bold;">Form 8&#8209;K</div>
        <div style="padding-top: 1pt;">
          <div>
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          <div><br>
          </div>
        </div>
        <div style="text-align: center; font-weight: bold;">CURRENT REPORT</div>
        <div style="text-align: center; font-weight: bold;">&#160;Pursuant to Section 13 or 15(d) of the</div>
        <div style="text-align: center; font-weight: bold;">&#160;Securities Exchange Act of 1934</div>
        <div>&#160;</div>
        <div style="text-align: center; font-weight: bold;">Date of Report (Date of earliest event reported):&#160; February 27, 2020</div>
        <div style="padding-top: 1pt;">
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        <div style="text-align: center; font-weight: bold;"> <br>
        </div>
        <div style="text-align: center; font-size: 24pt; font-weight: bold;">JAPAN SMALLER CAPITALIZATION FUND, INC.</div>
        <div style="text-align: center; font-weight: bold;">(Exact name of registrant as specified in its charter)</div>
        <div style="padding-top: 1pt;">
          <div>
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        </div>
        <div style="text-align: center; font-weight: bold;"> <br>
        </div>
        <div style="text-align: center; font-weight: bold;">Investment Company Act File Number:&#160; 811-05992</div>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zbca1a16d93364d6c9b5da4b9b7075ac1">

            <tr>
              <td style="width: 49%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">Maryland</div>
              </td>
              <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
              <td style="width: 49%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">13-3553469</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">(State or other jurisdiction of incorporation)</div>
              </td>
              <td colspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
              <td style="width: 49%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">(IRS Employer Identification No.)</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;">Worldwide Plaza</div>
        <div style="text-align: center; font-weight: bold;">&#160;309 West 49th Street</div>
        <div style="text-align: center; font-weight: bold;">&#160;New York, NY 10019</div>
        <div style="text-align: center; font-weight: bold;">&#160;(Address of principal executive offices, including zip code)</div>
        <div>&#160;</div>
        <div style="text-align: center; font-weight: bold;">(800) 833-0018</div>
        <div style="text-align: center; font-weight: bold;">(Registrant&#8217;s telephone number, including area code)</div>
        <div style="text-align: center; font-weight: bold;">(Former name&#160; or former address, if changed since last report)</div>
        <div style="padding-top: 1pt;">
          <div>
            <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; width: 25%; color: #000000; text-align: center;"></div>
          <div><br>
          </div>
        </div>
        <div>Check the appropriate box below if the Form 8&#8209;K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>
        <div>
          <div>
            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z42708977046f4f7a9cf76526d0bfd830">

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                  <td style="width: 27pt; vertical-align: top;">&#9744;</td>
                  <td style="width: auto; vertical-align: top;">
                    <div>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
                  </td>
                </tr>

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            <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5fad857feed041beba5deb87eccdf91c">

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                  <td style="width: 27pt; vertical-align: top;">&#9744;</td>
                  <td style="width: auto; vertical-align: top;">
                    <div>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
                  </td>
                </tr>

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                  <td style="width: 27pt; vertical-align: top;">&#9744;</td>
                  <td style="width: auto; vertical-align: top;">
                    <div>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
                  </td>
                </tr>

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          </div>
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                  <td style="width: 27pt; vertical-align: top;">&#9744;</td>
                  <td style="width: auto; vertical-align: top;">
                    <div>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div>&#160;</div>
        <div>Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:</div>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zd63abae3d7aa450397c4dc3804faa0ff">

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              <td style="width: 33.33%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Title of each class</div>
              </td>
              <td style="width: 34%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Trading Symbol(s)</div>
              </td>
              <td style="width: 33%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Name of each exchange on which registered</div>
              </td>
            </tr>
            <tr>
              <td style="width: 33.33%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">Common stock, par value $0.10 per share</div>
              </td>
              <td style="width: 34%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">JOF</div>
              </td>
              <td style="width: 33%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; font-weight: bold;">NYSE</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>
        <div>&#160;</div>
        <div style="text-align: right;">Emerging growth company &#9744;</div>
        <div>&#160;</div>
        <div>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the
          Exchange Act.&#160; &#9744;</div>
        <div> <br>
        </div>
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                  <td style="width: 72pt; vertical-align: top; align: right; font-weight: bold;">Item 4.01</td>
                  <td style="width: auto; vertical-align: top;">
                    <div style="font-weight: bold;">Changes in Registrant&#8217;s Certifying Accountant.</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div><br>
        </div>
        <div style="line-height: normal;"><font style="font-family: 'Times New Roman', Times, serif;">(a)</font><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="font-family: 'Times New Roman', Times, serif;">On February 27, 2020, RSM US LLP (&#8220;RSM&#8221;) notified Japan Smaller Capitalization Fund, Inc. (the &#8220;Company&#8221;) of its resignation as the Company&#8217;s independent registered public accounting firm for the fiscal year ending February 29,
            2020 due to the discovery of certain non-attest services performed by a foreign affiliated firm for remote &#8220;brother-sister&#8221; affiliates of the Company that appear to be inconsistent with Securities and Exchange Commission independence rules.</font>
          <div style="line-height: 13.55pt">&#160;</div>
        </div>
        <div>The audit reports of RSM on the Company&#8217;s consolidated financial statements for the fiscal years ended February 28, 2019 and February 28, 2018 did not contain an adverse opinion or disclaimer of opinion and were not qualified or modified as to
          uncertainty, audit scope or accounting principles.</div>
        <div>&#160;</div>
        <div>During the Company&#8217;s two most recent fiscal years and through February 27, 2020, there have been no disagreements within the meaning of Item 304(a)(1)(iv) of Regulation S-K with RSM on any matters of accounting principles or practices,
          financial statement disclosure or auditing scope and procedure which, if not resolved to the satisfaction of RSM, would have caused RSM to make reference to the subject matter in connection with its reports, and there were no reportable events as
          defined in Item 304(a)(1)(v) of Regulation S-K.</div>
        <div>&#160;</div>
        <div>The Company provided a copy of the foregoing disclosures to RSM and requested that RSM furnish it with a letter addressed to the Securities and Exchange Commission stating whether RSM agrees with the above statements. A copy of RSM&#8217;s letter,
          dated March 4, 2020 is filed as Exhibit 16.1 to this Form 8-K.</div>
        <div>&#160;</div>
        <div>The Company is in the process of identifying a successor independent registered public accounting firm. RSM has advised the Company that it will work to facilitate the transition.</div>
        <div>&#160;</div>
        <div>
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                  <td style="width: 72pt; vertical-align: top; align: right; font-weight: bold;">Item 9.01</td>
                  <td style="width: auto; vertical-align: top;">
                    <div style="font-weight: bold;">Financial Statements and Exhibits</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div><br>
        </div>
        <div>(d) Exhibits</div>
        <div><br>
        </div>
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                <div style="font-weight: bold;">Exhibit No.</div>
              </td>
              <td style="width: 88%; vertical-align: top;">
                <div style="font-weight: bold;">Description</div>
              </td>
            </tr>
            <tr>
              <td style="width: 12%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 88%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 12%; vertical-align: top;">
                <div><a href="efc20-278_ex161.htm">16.1</a></div>
              </td>
              <td style="width: 88%; vertical-align: top;">
                <div>Letter from RSM US LLP, dated March 4, 2020</div>
              </td>
            </tr>

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        <div style="text-align: center;">SIGNATURES</div>
        <div>&#160;</div>
        <div style="text-align: justify; text-indent: 36pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
        <div>&#160;</div>
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            <tr>
              <td style="width: 45%; vertical-align: top;">&#160;</td>
              <td colspan="2" style="vertical-align: top;">
                <div>JAPAN SMALLER CAPITALIZATION FUND, INC.</div>
              </td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 45%; vertical-align: top;">&#160;</td>
              <td rowspan="1" colspan="2" style="vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 45%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                <div>By:<br>
                </div>
              </td>
              <td style="width: 52%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Amy J. Robles<br>
              </td>
            </tr>
            <tr>
              <td style="width: 45%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 52%; vertical-align: top;">
                <div style="margin-left: 9pt;">Amy J. Robles</div>
              </td>
            </tr>
            <tr>
              <td style="width: 45%; vertical-align: top;">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 52%; vertical-align: top;">
                <div style="margin-left: 9pt;">Treasurer, Principal Financial Officer<br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 45%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 52%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 45%; vertical-align: top;">Date:&#160; March 4, 2020</td>
              <td style="width: 3%; vertical-align: top;">
                <div><br>
                </div>
              </td>
              <td style="width: 52%; vertical-align: top;">&#160;</td>
            </tr>

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        <div>
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
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<DOCUMENT>
<TYPE>EX-16.1
<SEQUENCE>2
<FILENAME>efc20-278_ex161.htm
<TEXT>
<html>
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    <!-- Licensed to: a!2f!o&FUfz5
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         Copyright 1995 - 2020 Broadridge -->
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      <div style="text-align: right; font-weight: bold;">Exhibit 16.1</div>
      <div style="text-align: right; font-weight: bold;"> <br>
      </div>
      <div>March 4, 2020</div>
      <div><br>
      </div>
      <div>Securities and Exchange Commission</div>
      <div>100 F Street, NE</div>
      <div>Washington, DC 20549</div>
      <div><br>
      </div>
      <div>Ladies and Gentlemen:</div>
      <div>We have read the statements made by Japan Smaller Capitalization Fund, Inc. in its Form 8-K dated March 4, 2020, which we understand will be filed with the Commission pursuant to Item 4 of Form 8-K. We agree with the statements concerning our
        Firm in such Form 8-K.</div>
      <div><br>
      </div>
      <div>Very truly yours,</div>
      <div><br>
      </div>
      <div>/s/ RSM US LLP</div>
      <div><br>
      </div>
      <div>March 4, 2020</div>
      <div> <br>
      </div>
      <div> <br>
      </div>
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