<SEC-DOCUMENT>0001207017-25-000032.txt : 20250515
<SEC-HEADER>0001207017-25-000032.hdr.sgml : 20250515
<ACCEPTANCE-DATETIME>20250515153921
ACCESSION NUMBER:		0001207017-25-000032
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250515
DATE AS OF CHANGE:		20250515

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JAPAN SMALLER CAPITALIZATION FUND INC
		CENTRAL INDEX KEY:			0000859796
		ORGANIZATION NAME:           	
		EIN:				133553469
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-59337
		FILM NUMBER:		25952039

	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
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		30 ROCKEFELLER PLZ
		STREET 2:		56TH FL.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10112
		BUSINESS PHONE:		2126321890

	MAIL ADDRESS:	
		STREET 1:		30 ROCKEFELLER PLZ
		STREET 2:		56TH FL.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10112
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001207017-25-000009</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001207017</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>1</amendmentNo>
      <securitiesClassTitle>Cl-EndFund Eq 1</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>03/31/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000859796</issuerCik>
        <issuerName>JAPAN SMALLER CAPITALIZATION FUND INC</issuerName>
        <issuerCusip>47109U104</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>WORLDWIDE PLAZA</com:street1>
          <com:street2>309 WEST 49TH STREET</com:street2>
          <com:city>NEW YORK</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10019</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(d)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Lazard Asset Management LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>2184724</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>2300838</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2300838</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>8.12</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>JAPAN SMALLER CAPITALIZATION FUND INC</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>WORLDWIDE PLAZA 309 WEST 49TH STREET NEW YORK NY 10019</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Lazard Asset Management LLC</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>30 Rockefeller Plaza New York NY 10112</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Delaware Limited Liability Company</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>2300838</amountBeneficiallyOwned>
        <classPercent>8.12</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>2184724</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>2300838</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Lazard Asset Management LLC</reportingPersonName>
      <signatureDetails>
        <signature>Nargis Hilal</signature>
        <title>Chief Compliance Officer and Counsel</title>
        <date>05/15/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
