<SEC-DOCUMENT>0001140361-21-015908.txt : 20210505
<SEC-HEADER>0001140361-21-015908.hdr.sgml : 20210505
<ACCEPTANCE-DATETIME>20210505134421
ACCESSION NUMBER:		0001140361-21-015908
CONFORMED SUBMISSION TYPE:	N-CEN
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210228
FILED AS OF DATE:		20210505
DATE AS OF CHANGE:		20210505
EFFECTIVENESS DATE:		20210505

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:		N-CEN
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05992
		FILM NUMBER:		21892449

	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>
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<DOCUMENT>
<TYPE>INTERNAL CONTROL RPT
<SEQUENCE>2
<FILENAME>intconrpt.htm
<DESCRIPTION>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
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      <div style="text-align: justify;">Report of&#160;Independent Registered Public Accounting Firm</div>
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    <div style="text-align: justify;">To the Shareholders and Board of Directors of Japan Smaller Capitalization Fund, Inc.</div>
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    </div>
    <div style="text-align: justify;">In planning and performing our audit of the financial statements of Japan Smaller Capitalization Fund, Inc. (&#8220;the Company&#8221;) as of and for the year ended
      February 28, 2021, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Company&#8217;s internal control over financial reporting, including controls over safeguarding securities, as a
      basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the
      Company&#8217;s internal control over financial reporting.&#160; Accordingly, we express no such opinion.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The management of the Company is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this
      responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company&#8217;s internal control over financial reporting is a process designed to provide reasonable assurance regarding
      the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles. A company&#8217;s internal control over financial reporting includes those policies
      and procedures that (1) pertain to the&#160; maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded
      as necessary to permit preparation of financial statements in accordance with U.S. generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and
      directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company&#8217;s assets that could have a material effect on the financial statements.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of
      effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the
      normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a
      reasonable possibility that a material misstatement of the Company&#8217;s annual or interim financial statements will not be prevented or detected on a timely basis.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Our consideration of the Company&#8217;s internal control over financial reporting was for the limited purpose described in the first paragraph and would not
      necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Company&#8217;s internal control over financial reporting and its operation,
      including controls over safeguarding securities that we consider to be a material weakness as defined above as of February 28, 2021.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">This report is intended solely for the information and use of management and the Board of Directors of Japan Smaller Capitalization Fund, Inc and the
      Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.</div>
    <div><br>
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    <div><br>
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    <div style="text-align: justify;">/s/ ERNST &amp; YOUNG LLP</div>
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    <div style="text-align: justify;">New York, New York</div>
    <div style="text-align: justify;">April 28, 2021</div>
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