JOF CEF — Japan Smaller Capitalization Fund, Inc.

Japan Smaller Capitalization Fund, Inc. (JOF)

Updated October 16, 2026.

JOF is a CEF. its distribution rate is 9.65%, its trailing-12-month yield is 9.22%, its expense ratio is 2.09%. Dividend Vision Distribution Safety Score™ is 69/100 (Generally safe). Total return is 265.8% over the past 36.6 years.

Japan Smaller Capitalization Fund, Inc. is a closed-end fund listed on the NYSE and managed by Nomura Asset Management U.S.A. Inc., with Nomura Asset Management Co., Ltd. as investment adviser since inception. It seeks long-term capital appreciation and, under normal circumstances, invests at least 80% of total assets in smaller-capitalization Japanese equities, benchmarked to the Russell/Nomura Small Cap Index since September 2004. The fund has operated since March 21, 1990, and pays monthly distributions under a level distribution plan the board adopted in June 2025. For the fiscal year ended February 28, 2026, the ratio of expenses to average net assets was 2.09%, including a discount-management consulting fee (1.37% excluding that fee).

JOF performance

Price and return data through 2026-10-16.

Total return is 265.8% over the past 36.6 years. Over the past year its total return — price change plus distributions reinvested — is 26.9%. Its deepest 1-year drawdown was 17.2%.

JOF key facts

Distribution Safety Score™

69 · Generally safe

Safety-Adjusted Yield

6.66%

Issuer

Nomura

Asset type

CEF

Asset class

Equity

Inception date

03/21/1990

Expense ratio

2.09%

Total annual operating expenses

2.09%

Distribution rate

9.65%

Distribution frequency

Monthly

Trailing yield

9.22%

5-year average yield

2.16

Last close

$11.89 (as of 2026-10-16)

NAV

$14.25 as of 2026-09-30; source eodhd (stale)

Premium / discount

N/A (price 2026-10-16, NAV 2026-09-30) (NAV stale)

Market cap

$342,273,408

Average volume

52834.0

Dividend

$0.096

Ex-dividend date

10/15/2026

Payment date

10/30/2026

Beta

0.514

AUM unavailable in this published snapshot. Missing values do not mean zero or complete coverage. ?

How Dividend Vision calculates yield and returns

Distribution rate (9.65%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (9.22%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Nomura or company page; Fact sheet; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

JOF risks and drawbacks

The deepest 1-year drawdown on record here is 17.2%.

More on JOF

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Tagged: CEF, International, Small Caps, Dividend, Active.

Frequently asked questions

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