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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001172661-10-000189.txt : 20100216
<SEC-HEADER>0001172661-10-000189.hdr.sgml : 20100215
<ACCEPTANCE-DATETIME>20100216141117
ACCESSION NUMBER:		0001172661-10-000189
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20100216
DATE AS OF CHANGE:		20100216

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JAPAN EQUITY FUND INC
		CENTRAL INDEX KEY:			0000866095
		IRS NUMBER:				223060893
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-60837
		FILM NUMBER:		10606206

	BUSINESS ADDRESS:	
		STREET 1:		ONE EVERTRUST PLAZA
		STREET 2:		C/O DAIWA SECURITIES TRUST CO
		CITY:			JERSEY CITY
		STATE:			NJ
		ZIP:			07302
		BUSINESS PHONE:		2019153054

	MAIL ADDRESS:	
		STREET 1:		DAIWA SECURITIES TRUST CO
		STREET 2:		ONE EVERTRUST PLAZA
		CITY:			JERSEY CITY
		STATE:			NJ
		ZIP:			07302

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	JAPAN EMERGING EQUITY FUND INC
		DATE OF NAME CHANGE:	19920407

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			1607 Capital Partners, LLC
		CENTRAL INDEX KEY:			0001436866
		IRS NUMBER:				260529973
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		4991 LAKE BROOK DRIVE
		STREET 2:		SUITE 125
		CITY:			GLEN ALLEN
		STATE:			VA
		ZIP:			23060
		BUSINESS PHONE:		1-804-525-1750

	MAIL ADDRESS:	
		STREET 1:		4991 LAKE BROOK DRIVE
		STREET 2:		SUITE 125
		CITY:			GLEN ALLEN
		STATE:			VA
		ZIP:			23060
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>jeq073109a2.txt
<DESCRIPTION>SCHEDULE 13G HOLDINGS REPORT AMENDMENT
<TEXT>
                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                 SCHEDULE 13G/A
                    Under the Securities Exchange Act of 1934
				(Amendment No. 2)

                           The Japan Equity Fund, Inc.
                                (Name of Issuer)

                             Closed End Mutual Fund
                         (Title of Class of Securities)

                                   471057109
                                 (CUSIP Number)

                              December 31, 2009
             (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

[X] Rule 13d-1(b)

[ ] Rule 13d-1(c)

[ ] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.


The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).

<Page>

                               CUSIP No. 471057109


       1.    Names of Reporting Person

             1607 Capital Partners, LLC

             I.R.S. Identification Nos. of above person: 26-0529973

       2.    Check the Appropriate Box if a Member Of a Group

             [ ] (a)
             [ ] (b)

       3.    SEC Use Only

       4.    Citizenship or Place of Organization

             Virginia, United States

       5.    Sole Voting Power:  1,684,999
Number of
Shares           6.  Shared Voting Power: 0
Beneficially
Owned by         7.  Sole Dispositive Power:  1,684,999
Each Reporting
Person With      8.  Shared Dispositive Power: 0

       9.    Aggregate Amount Beneficially Owned by Each Reporting Person

             1,684,999

       10.   Check if the Aggregate Amount in Row (9) Excludes Certain Shares

       11.   Percent of Class Represented by Amount in Row (9)

	     11.67%

       12.   Type of Reporting Person

	     IA

<Page>

Item 1. (a)  Name of Issuer:  The Japan Equity Fund, Inc.

        (b)  Address of Issuer's Principal Executive Offices:

             c/o Daiwa Securities Trust Company
	     One Evertrust Plaza, 9th Floor
	     Jersey City, New Jersey 07302-3051

Item 2. (a)  Name of Person Filing:

             1607 Capital Partners, LLC

        (b)  Address of Principal Business Offices:

             4991 Lake Brook Dr., Suite 125
             Glen Allen, VA 23060

        (c)  Citizenship:

             Please refer to Item 4 on each cover sheet for each filing person

        (d)  Title of Class of Securities

             Closed End Mutual Fund

        (e)  CUSIP Number: 471057109

Item 3.  1607 Capital Partners, LLC is an investment advisor in accordance
         with Rule 13d-1(b)(1)(ii)(E);

Item 4.  Ownership

         Please see Items 5 - 9 and 11 for each cover sheet for each filing
         separately

Item 5.  Ownership of Five Percent or Less of a Class

         Not Applicable

Item 6.  Ownership of More than Five Percent on Behalf of Another Person

	 Not Applicable

<Page>


Item 7.  Identification and Classification of the Subsidiary Which Acquired the
         Security Being Reported on By the Parent Holding Company

         Not Applicable

Item 8.  Identification and Classification of Members of the Group

         Not Applicable

Item 9.  Notice of Dissolution of Group

         Not Applicable

Item 10. Certification

         By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and 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.


<Page>

                               SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.

Date:  February 16, 2010
                           1607 Capital Partners, LLC

                           By: /s/ Thomas K Tattersall
                           --------------------------
                           Name: Thomas K Tattersall
                           Title: Managing Director of Operations and Marketing

<Page>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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