<SEC-DOCUMENT>0001104659-24-064561.txt : 20240523
<SEC-HEADER>0001104659-24-064561.hdr.sgml : 20240523
<ACCEPTANCE-DATETIME>20240523085354
ACCESSION NUMBER:		0001104659-24-064561
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20240516
FILED AS OF DATE:		20240523
DATE AS OF CHANGE:		20240523

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DiMartino Rose
		CENTRAL INDEX KEY:			0001998932
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-06142
		FILM NUMBER:		24975305

	MAIL ADDRESS:	
		STREET 1:		C/O ABRDN
		STREET 2:		1900 MARKET STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ABRDN JAPAN EQUITY FUND, INC.
		CENTRAL INDEX KEY:			0000866095
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		ORGANIZATION NAME:           	
		IRS NUMBER:				223060893
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	BUSINESS ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		215-405-5700

	MAIL ADDRESS:	
		STREET 1:		1900 MARKET STREET
		STREET 2:		SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ABERDEEN JAPAN EQUITY FUND, INC.
		DATE OF NAME CHANGE:	20140428

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	JAPAN EMERGING EQUITY FUND INC
		DATE OF NAME CHANGE:	19920407
</SEC-HEADER>
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<SEQUENCE>1
<FILENAME>tm2415280-1_3seq1.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
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<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2024-05-16</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000866095</issuerCik>
        <issuerName>ABRDN JAPAN EQUITY FUND, INC.</issuerName>
        <issuerTradingSymbol>JEQ</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001998932</rptOwnerCik>
            <rptOwnerName>DiMartino Rose</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ABRDN</rptOwnerStreet1>
            <rptOwnerStreet2>1900 MARKET STREET, SUITE 200</rptOwnerStreet2>
            <rptOwnerCity>PHILADELPHIA</rptOwnerCity>
            <rptOwnerState>PA</rptOwnerState>
            <rptOwnerZipCode>19103</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <remarks>Exhibit List: Exhibit 24 - Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>/s/ Katherine Corey, by POA from Reporting Person</signatureName>
        <signatureDate>2024-05-23</signatureDate>
    </ownerSignature>
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<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>tm2415280d1_ex24.htm
<DESCRIPTION>EXHIBIT 24
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 24</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">POWER OF ATTORNEY</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">Know all by these presents, that the undersigned hereby constitutes and appoints the individuals named on Schedule A
attached hereto and as may be amended from time to time, or any of them signing singly, with full power of substitution and resubstitution,
as the undersigned's true and lawful attorneys- in-fact to:</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239; as may be required, prepare, execute in the undersigned's name and on the
undersigned's behalf, and submit to the United States Securities and Exchange Commission (the "SEC") a Form ID, including amendments thereto,
and any other documents necessary or appropriate to obtain codes and passwords enabling the undersigned to make electronic filings with
the SEC of reports required by Section 16(a) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or any rule or regulation
of the SEC;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">2. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;execute for and on behalf of the undersigned, in the undersigned's capacity as a reporting person pursuant to Section 16
of the Exchange Act, and the rules thereunder of the applicable registered investment companies (and any successor companies) listed on
Schedule A attached hereto, as amended from time to time, and any other registered investment company affiliated with or established by
abrdn Inc., abrdn Investments Limited, abrdn Asia Limited or their affiliates, for which the undersigned becomes a Section 16 reporting
person (each, a "Fund"), Forms 3, 4 and 5 in accordance with Section 16(a) of the Exchange Act;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">3. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;do and perform any and all acts for
and on behalf of the undersigned that may be necessary or desirable to complete and execute any such Form 3, 4 or 5 and timely file such
form with the SEC and any stock exchange or similar authority; and</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239; take any other action of any type whatsoever in connection with
the foregoing that, in the opinion of any of such attorneys-in-fact, may be of benefit to, in the best interest of, or legally required
by, the undersigned, it being understood that the documents executed by any of such attorneys-in-fact on behalf of the undersigned pursuant
to this Power of Attorney shall be in such form and shall contain such terms and conditions as any of such attorneys-in-fact may approve
in the discretion of any of such attorneys-in-fact.</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">The undersigned hereby grants to each such attorney-in-fact full power and authority
to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any rights and
powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power
of substitution or revocation, hereby ratifying and confirming all that any of such attorneys-in-fact, or the substitute or substitutes
of any of such attorneys-in-fact, shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers
herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned,
are not assuming, nor is any Fund assuming, any of the undersigned's responsibilities to comply with Section 16 of the Exchange Act.</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">This
Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4 and 5 with respect
to the undersigned's holdings of and transactions in securities issued by any Fund, unless earlier revoked by the undersigned in a signed
writing delivered to the foregoing attorneys-in-fact.</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed
as of this 25th day of October 2023.</P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 7%"><FONT STYLE="font-size: 10pt">Signature:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; width: 43%"><FONT STYLE="font-size: 10pt">/s/ Rose DiMartino</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Rose DiMartino</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">SCHEDULE A</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">FUND NAME AND TICKER SYMBOL</P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 5%"><FONT STYLE="font-size: 10pt">1.</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 95%"><FONT STYLE="font-size: 10pt">ABRDN AUSTRALIA EQUITY FUND, INC. (IAF)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">2. </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">ABRDN ASIA-PACIFIC INCOME FUND, INC. (FAX)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">3. </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">ABRDN GLOBAL INCOME FUND, INC. (FCO)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">4. </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">ABRDN EMERGING MARKETS EQUITY INCOME FUND, INC. (AEF)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">5. </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">THE INDIA FUND, INC. (IFN)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">6.</TD>
    <TD STYLE="font-size: 10pt">ABRDN JAPAN EQUITY FUND, INC. (JEQ)</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">7.</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">FIRST TRUST/ABRDN GLOBAL OPPORTUNITY INCOME FUND (FAM)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">8. </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">ABRDN INCOME CREDIT STRATEGIES FUND (ACP)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">9. </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">ABRDN ASIA-PACIFIC INCOME INVESTMENT COMPANY LIMITED (FAP)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">10. </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">ABRDN GLOBAL PREMIER PROPERTIES FUND (AWP)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">11. </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">ABRDN GLOBAL DYNAMIC DIVIDEND FUND (AGD)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">12.</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">ABRDN TOTAL DYNAMIC DIVIDEND FUND (AOD)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">13. </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">ABRDN GLOBAL INFRASTRUCTURE FUND (ASGI)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">14 </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">ABRDN NATIONAL MUNICIPAL INCOME FUND (VFL)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">15. </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">ABRDN HEALTHCARE INVESTORS (HQH)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">16. </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">ABRDN LIFE SCIENCES INVESTORS (HQL)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">17. </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">ABRDN HEALTHCARE OPPORTUNITIES FUND (THQ)</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">18. </FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">ABRDN WORLD HEALTHCARE FUND (THW)</FONT></TD></TR>
  </TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">INDIVIDUALS APPOINTED AS ATTORNEY-IN-FACT, WITH FULL POWER OF SUBSTITUTION AND RESUBSTITUTION</P>

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  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 5%">1.</TD>
    <TD STYLE="font-size: 10pt; width: 95%"> Lucia Sitar</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">2.</TD>
    <TD STYLE="font-size: 10pt">Megan Kennedy</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">3.</TD>
    <TD STYLE="font-size: 10pt">Katherine Corey</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">4.</TD>
    <TD STYLE="font-size: 10pt">Andrew Kim</TD></TR>
  </TABLE>



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