|
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| AIN HOLDINGS INC. | 30-Jul-2019 | Annual General Meeting | 1,200 | | 5953240 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ito, Junro | MGMT | FOR | FOR |
| | | | | | | | | | |
| KUSURI NO AOKI HOLDINGS CO.,LTD. | 17-Aug-2019 | Annual General Meeting | 11,300 | | BYX8TV2 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Aoki, Keisei | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Aoki, Yasutoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Aoki, Hironori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yahata, Ryoichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yoshino, Kunihiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Okada, Motoya | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Yanagida, Naoki | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Amend Business Lines, Allow the Board of Directors to Authorize Appropriation of Surplus and Purchase Own Shares, Eliminate the Articles Related to Allowing the Board of Directors to Authorize the Company to Purchase Own Shares | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Corporate Auditor Morioka, Shinichi | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| DAIKOKUTENBUSSAN CO.,LTD. | 21-Aug-2019 | Annual General Meeting | 171,000 | | 6713186 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Oga, Shoji | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Kikuchi, Kazuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kawada, Tomohiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Oga, Masahiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Omura, Masashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Noda, Naoki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fukuda, Masahiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Terao, Koji | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Imaoka, Shoichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Corporate Auditor Kuwahara, Kazunari | MGMT | FOR | FOR |
| | | | | | | Approve Details of Compensation as Stock Options for Directors (Excluding Outside Directors) | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| CREATE SD HOLDINGS CO.,LTD. | 23-Aug-2019 | Annual General Meeting | 64,400 | | B3V2XQ2 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Director who is Audit and Supervisory Committee Member Ampo, Yoko | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yamamoto, Hisao | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Hirose, Taizo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yamamoto, Itsuko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Saito, Osamu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nakaura, Shigeto | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kasakawa, Kuniaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Baniwa, Shuichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Hara, Yukio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Kawamura, Nobuhiko | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Amend Business Lines | MGMT | FOR | FOR |
| | | | | | | | | | |
| COSMOS PHARMACEUTICAL CORPORATION | 23-Aug-2019 | Annual General Meeting | 8,300 | | B036QP1 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Director who is Audit and Supervisory Committee Member Nagahara, Go | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Uno, Masateru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yokoyama, Hideaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Iwashita, Masahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Takemori, Motoi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Shibata, Futoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Uno, Yukitaka | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Kosaka, Michiyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Kino, Tetsuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Ueta, Masao | MGMT | FOR | FOR |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
SHINPO CO.,LTD. | 20-Sep-2019 | Annual General Meeting | 1,900 | | 6864493 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tanaka, Toshiaki | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Mizuno, Yasuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ando, Norihiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kataoka, Mitsuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Mori, Tatsuhide | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamada, Kiyohisa | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tanimura, Masami | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Achiwa, Chihiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Onishi, Kazuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Mitsuoka, Yojiro | MGMT | FOR | FOR |
| | | | | | | | | | |
PAN PACIFIC INTERNATIONAL HOLDINGS CORPORATION | 25-Sep-2019 | Annual General Meeting | 55,600 | | 5767753 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yoshida, Naoki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Matsumoto, Kazuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nishii, Takeshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sakakibara, Ken | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sekiguchi, Kenji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Maruyama, Tetsuji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Ishii, Yuji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Abe, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yasuda, Takao | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Nishitani, Jumpei | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Yoshino, Masaki | MGMT | FOR | FOR |
| | | | | | | | | | |
AI HOLDINGS CORPORATION | 26-Sep-2019 | Annual General Meeting | 33,400 | | B1TK201 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | | | | |
SHIBUYA CORPORATION | 26-Sep-2019 | Annual General Meeting | 10,700 | | 6804239 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shibuya, Hirotoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shibuya, Susumu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kubo, Naoyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kobayashi, Takeo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Naka, Toshiaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Mori, Katsumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yoshimichi, Yoshiaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kitamura, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Honda, Munetaka | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kawamura, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shibuya, Mitsutoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shibuya, Hidetoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nishino, Yukinobu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nishida, Masakiyo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nagai, Hidetsugu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ota, Masato | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakanishi, Shinji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Takamoto, Munehiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Futagi, Akinori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Watanabe, Hidekatsu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sugai, Toshiaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tamai, Masatoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Miyamae, Kazuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Suzuki, Yoshiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Endo, Shigeru | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Ataka, Tateki | MGMT | AGAINST | AGAINST |
| | | | | | | Approve Issuance of Trust-Type Rights Plan | MGMT | AGAINST | AGAINST |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | |
JAPAN MEAT CO.,LTD. | 21-Oct-2019 | Annual General Meeting | 132,500 | | BYM6DQ0 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sakai, Masahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Mori, Toshiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sakai, Koji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sakai, Kazuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fujiwara, Katsuro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sugiyama, Yoko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Abe, Kosei | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Midorikawa, Kiyoharu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Otaki, Atsuko | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Fujihara, Kenichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Murai, Yukio | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Seki, Hiroyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Nemoto, Yoshinori | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Change Official Company Name to JM HOLDINGS CO.,LTD., Amend Business Lines | MGMT | FOR | FOR |
| | | | | | | Approve Absorption-Type Company Split Agreement to Create a Holding Company Structure | MGMT | FOR | FOR |
| | | | | | | Approve Absorption-Type Company Split Agreement | MGMT | FOR | FOR |
| | | | | | | | | | |
| SANYO HOUSING NAGOYA CO.,LTD. | 27-Nov-2019 | Annual General Meeting | 331,100 | | 6532820 | Appoint a Director Sawada, Yasunari | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Miyazaki, Takuya | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Mito, Naoki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Omori, Takaharu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hisada, Hidenobu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Okamoto, Ryo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Endo, Akikazu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hironaka, Kazuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Senju, Norio | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Change Official Company Name to AVANTIA CO., LTD. | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Restricted-Share Compensation to be received by Directors | MGMT | AGAINST | AGAINST |
| | | | | | | Approve Retirement Allowance for Retiring Directors, and Payment of Accrued Benefits associated with Abolition of Retirement Benefit System for Current Corporate Officers | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| JINS HOLDINGS INC. | 28-Nov-2019 | Annual General Meeting | 14,400 | | B18D6G5 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Maeda, Natsuhiko | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Corporate Auditor Ono, Katsunori | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| STEP CO.,LTD. | 14-Dec-2019 | Annual General Meeting | 156,700 | | 6791999 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tatsui, Kyoji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Endo, Yosuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Umezawa, Naoyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Arai, Noriaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Takase, Hiroyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Daikoku, Akiyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hakamada, Tsuyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Morimoto, Yuriko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kijima, Fumiyoshi | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Asano, Tatsuru | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Ueda, Hideki | MGMT | FOR | FOR |
| | | | | | | | | | |
| TEAR CORPORATION | 20-Dec-2019 | Annual General Meeting | 76,700 | | B142B83 | Appoint a Director Tomiyasu, Norihisa | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Okadome, Shokichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tsuji, Kohei | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Miyazaki, Yoshiyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Manabe, Kengo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamamoto, Katsumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Mori, Zenryo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ogiso, Masato | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| EPS HOLDINGS,INC. | 20-Dec-2019 | Annual General Meeting | 98,600 | | 6367486 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yan Hao | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tashiro, Shinro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tanaka, Hisashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sekitani, Kazuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Orihashi, Shuzo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Funabashi, Haruo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ando, Yoshinori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Taguchi, Junichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Iwami, Yo | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Tamai, Yasuharu | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Tochigi, Toshiaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Higuchi, Yoshiyuki | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Reduce Term of Office of Directors to One Year, Revise Conveners and Chairpersons of a Shareholders Meeting and Board of Directors Meeting | MGMT | FOR | FOR |
| | | | | | | Approve Provision of Retirement Allowance for Retiring Corporate Auditors | MGMT | AGAINST | AGAINST |
| | | | | | | Approve Details of the Restricted-Share Compensation and the Performance-based Stock Compensation to be received by Directors | MGMT | AGAINST | AGAINST |
| | | | | | | Approve Payment of Accrued Benefits associated with Abolition of Retirement Benefit System for Current Directors | MGMT | FOR | FOR |
| | | | | | | | | | |
| SPRIX,LTD. | 26-Dec-2019 | Annual General Meeting | 44,800 | | BG1VQF0 | Appoint a Director who is not Audit and Supervisory Committee Member Tsuneishi, Hiroyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Hiraishi, Akira | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Hirai, Toshihide | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Amend Business Lines | MGMT | FOR | FOR |
| | | | | | | | | | |
| HI-LEX CORPORATION | 25-Jan-2020 | Annual General Meeting | 324,800 | | 6643476 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Teraura, Makoto | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakano, Mitsuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Teraura, Taro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hirai, Shoichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Masaki, Yasuko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kato, Toru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Akanishi, Yoshifumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Matsumoto, Koichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Yoshitake, Hideyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Kobayashi, Satoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Ota, Katsumi | MGMT | FOR | FOR |
| | | | | | | Approve Payment of Bonuses to Corporate Officers | MGMT | FOR | FOR |
| | | | | | | Approve Continuance of Policy regarding Large-scale Purchases of Company Shares (Anti-Takeover Defense Measures) | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| J.S.B.CO.,LTD. | 28-Jan-2020 | Annual General Meeting | 500 | | BF0X6T4 | Appoint a Director Oka, Yasuko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tanaka, Tsuyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kondo, Masahiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hayashi, Kenji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamamoto, Takanori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kanai, Hiroyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kosuga, Kaori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shiraishi, Norio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Endo, Tomiyoshi | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Suzuki, Yasuyuki | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| H.I.S.CO.,LTD. | 29-Jan-2020 | Annual General Meeting | 82,300 | | 5806117 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sawada, Hideo | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nakamori, Tatsuya | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Oda, Masayuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nakatani, Shigeru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yamanobe, Atsushi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Gomi, Mutsumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yada, Motoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sawada, Hidetaka | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Umeda, Tsunekazu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Katsura, Yasuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Sekita, Sonoko | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Change Official Company Name to H.I.S. HOLDINGS INC., Amend Business Lines, Change Company Location within TOKYO, Revise Directors with Title | MGMT | FOR | FOR |
| | | | | | | Approve Absorption-Type Company Split Agreement | MGMT | FOR | FOR |
| | | | | | | Approve Payment of Bonuses to Corporate Officers | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| NICHIRIN CO.,LTD. | 26-Mar-2020 | Annual General Meeting | 25,900 | | 6037080 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Tezuka, Toshio | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Morikawa, Ryoichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Ueda, Kiyokazu | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Approve Minor Revisions | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Corporate Auditor Murazumi, Shinichi | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| THE PACK CORPORATION | 26-Mar-2020 | Annual General Meeting | 77,400 | | 6887821 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Inada, Mitsuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Takinoue, Teruo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamashita, Hideaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Okada, Susumu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fujii, Michihisa | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakamura, Shuichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hayashi, Hirofumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nishio, Uichiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ashida, Norio | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Restricted-Share Compensation to be received by Directors | MGMT | FOR | FOR |
| | | | | | | | | | |
| SAKATA INX CORPORATION | 26-Mar-2020 | Annual General Meeting | 613,500 | | 6769833 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Morita, Kotaro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakamura, Masaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakamura, Hitoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ueno, Yoshiaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fukunaga, Toshihiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakagawa, Katsumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Katsuki, Yasumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Izumi, Shizue | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Sugimoto, Hiroyuki | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Outside Directors) | MGMT | FOR | FOR |
| | | | | | | | | | |
| STAR MICRONICS CO.,LTD. | 26-Mar-2020 | Annual General Meeting | 16,800 | | 6841526 | Appoint a Director who is not Audit and Supervisory Committee Member Sato, Hajime | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sato, Mamoru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sasai, Yasunao | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Iwasaki, Seigo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Nishikawa, Seiichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Doko, Hide | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Sugimoto, Motoki | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| TOSHIBA MACHINE CO.,LTD. | 27-Mar-2020 | ExtraOrdinary General Meeting | 43,000 | | 6897262 | Approve Introduction of Response Policies for the Tender Offer, etc. for Company Shares by Office Support K.K. and Its Subsidiaries | MGMT | AGAINST | AGAINST |
| | | | | | | Approve Allotment of Free Share Acquisition Rights | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| KEIYO GAS CO.,LTD. | 27-Mar-2020 | Annual General Meeting | 50,500 | | 6487469 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kikuchi, Misao | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Habu, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamaura, Nobusuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Eguchi, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Funaki, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Furuichi, Seiichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yasuda, Akihiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Maekawa, Wataru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Mori, Takao | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Oishi, Noboru | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Kagami, Toshio | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Maruyama, Kyoji | MGMT | FOR | FOR |
| | | | | | | | | | |
| OTSUKA CORPORATION | 27-Mar-2020 | Annual General Meeting | 28,100 | | 4272634 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Nakai, Kazuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Hada, Etsuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Minagawa, Katsumasa | MGMT | FOR | FOR |
| | | | | | | | | | |
| SIIX CORPORATION | 27-Mar-2020 | Annual General Meeting | 636,500 | | 6174556 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Murai, Shiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yanase, Koji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ono, Seiji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Maruyama, Toru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fujita, Tatsuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Takatani, Shinsuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Omori, Susumu | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Corporate Auditor Kawai, Takanori | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Corporate Auditor Yoshizawa, Nao | MGMT | FOR | FOR |
| | | | | | | | | | |
| MABUCHI MOTOR CO.,LTD. | 27-Mar-2020 | Annual General Meeting | 119,500 | | 6551030 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Okoshi, Hiroo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Itokawa, Masato | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Katayama, Hirotaro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Taniguchi, Shinichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Iyoda, Tadahito | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Uenishi, Eiji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Mitarai, Naoki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Tsutsumi, Kazuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Jody L. Ono | MGMT | FOR | FOR |
| | | | | | | | | | |
| NAKANISHI INC. | 27-Mar-2020 | Annual General Meeting | 118,600 | | 6271071 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakanishi, Eiichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakanishi, Kensuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Suzuki, Masataka | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nonagase, Yuji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Suzuki, Fusato | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Maki, Yoshihiro | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| PIGEON CORPORATION | 27-Mar-2020 | Annual General Meeting | 9,800 | | 6688080 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakata, Yoichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamashita, Shigeru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kitazawa, Norimasa | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Akamatsu, Eiji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Itakura, Tadashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kurachi, Yasunori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kevin Vyse-Peacock | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nitta, Takayuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hatoyama, Rehito | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Okada, Erika | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hayashi, Chiaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamaguchi, Eriko | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Matsunaga, Tsutomu | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Reduce the Board of Directors Size to 13, Adopt Reduction of Liability System for Corporate Officers | MGMT | FOR | FOR |
| | | | | | | | | | |
| SAN-A CO.,LTD. | 26-May-2020 | Annual General Meeting | 86,200 | | 6280680 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Orita, Joji | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Uechi, Tessei | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Arashiro, Kentaro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Tasaki, Masahito | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Goya, Tamotsu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Toyoda, Taku | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Takeda, Hisashi | MGMT | FOR | FOR |
| | | | | | | | | | |
| MARUZEN CO.,LTD. | 26-May-2020 | Annual General Meeting | 10,000 | | 6573498 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Nagasaka, Osamu | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Restricted-Share Compensation to be received by Directors | MGMT | FOR | FOR |
| | | | | | | Approve Payment of Accrued Benefits associated with Abolition of Retirement Benefit System for Current Corporate Officers | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| HIDAY HIDAKA CORP. | 27-May-2020 | Annual General Meeting | 26 | | 6173854 | Appoint a Director Kanda, Tadashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Takahashi, Hitoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Arita, Akira | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shima, Juichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yoshida, Nobuyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kase, Hiroyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fuchigami, Tatsutoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Aono, Hiroshige | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Akachi, Fumio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nagata, Tadashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Yoshimoto, Atsuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Shibuya, Michio | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Koyama, Shigekazu | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Corporate Auditor Rokugawa, Hiroaki | MGMT | FOR | FOR |
| | | | | | | | | | |
| IZUMI CO.,LTD. | 27-May-2020 | Annual General Meeting | 99,400 | | 6468152 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kuromoto, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Horikawa, Tomoko | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Okada, Hirotaka | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Amend Business Lines | MGMT | FOR | FOR |
| | | | | | | Approve Provision of Retirement Allowance for Retiring Corporate Auditors | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| ABC-MART,INC. | 28-May-2020 | Annual General Meeting | 26,300 | | 6292102 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Noguchi, Minoru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Katsunuma, Kiyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kojima, Jo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kikuchi, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Hattori, Kiichiro | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| TAKEUCHI MFG.CO.,LTD. | 28-May-2020 | Annual General Meeting | 30,000 | | 6565031 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Director who is Audit and Supervisory Committee Member Uchiyama, Yoshitaka | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Takeuchi, Akio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Takeuchi, Toshiya | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Watanabe, Takahiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Clay Eubanks | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kobayashi, Osamu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yokoyama, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Kusama, Minoru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Kobayashi, Akihiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Iwabuchi, Michio | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members) | MGMT | FOR | FOR |
| | | | | | | | | | |
| TOKAI RIKA CO.,LTD. | 10-Jun-2020 | Annual General Meeting | 32,500 | | 6894025 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ninoyu, Hiroyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sato, Koki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Noguchi, Kazuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nishida, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamanaka, Yasushi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fujioka, Kei | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Hotta, Masato | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Chida, Minoru | MGMT | AGAINST | AGAINST |
| | | | | | | Amend Articles to: Amend Business Lines | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Compensation to be received by Outside Directors | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Outside Directors) | MGMT | FOR | FOR |
| | | | | | | Approve Payment of Bonuses to Corporate Officers | MGMT | FOR | FOR |
| | | | | | | | | | |
| OKINAWA CELLULAR TELEPHONE COMPANY | 11-Jun-2020 | Annual General Meeting | 206,700 | | 5805738 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yuasa, Hideo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamamori, Seiji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Oroku, Kunio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Aharen, Hikaru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tanaka, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shoji, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Suga, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Toguchi, Takeyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Oshiro, Hajime | MGMT | FOR | FOR |
| | | | | | | Approve Payment of Bonuses to Corporate Officers | MGMT | FOR | FOR |
| | | | | | | | | | |
| TRANCOM CO.,LTD. | 18-Jun-2020 | Annual General Meeting | 3,800 | | 6890034 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Shimizu, Masahisa | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Tsunekawa, Yutaka | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Jinno, Yasuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kambayashi, Ryo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nakazawa, Keisuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Takebe, Atsunori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sato, Kei | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Nagamine, Hisatoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Kawamura, Kazuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Hayakawa, Yasuhisa | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Sharesres | | SEDOL
| Proposal | Proposed By | For/Against MGMTT | Vote |
| | | | | | | | | | |
| KOHSOKU CORPORATION | 18-Jun-2020 | Annual General Meeting | 332,100 | | 6488592 | Appoint a Substitute Director who is Audit and Supervisory Committee Member Ichikawa, Hiroko | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Terashi, Koki | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Terashi, Yuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Wagatsuma, Hideki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kobayashi, Hiromi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Obara, Junichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Hatakeyama, Katsuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Takahashi, Tomokazu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Miura, Koki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Iwasawa, Miyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Iwamaru, Tomio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Sasaki, Shigemitsu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Nakamura, Ken | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Uchida, Takakazu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Ito, Mitsuhiko | MGMT | FOR | FOR |
| | | | | | | | | | |
| ALPS LOGISTICS CO.,LTD. | 19-Jun-2020 | Annual General Meeting | 296,400 | | 6050764 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Usui, Masaru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Shimohiro, Katsuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Fukiyama, Koji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kega, Yoichiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Ohashi, Susumu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Nakamura, Kunihiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Oyama, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Nishikawa, Naoko | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Reduce the Board of Directors Size, Adopt Reduction of Liability System for Directors, Adopt an Executive Officer System, Approve Minor Revisions | MGMT | FOR | FOR |
| | | | | | | Amend the Conditions for the Exercise of Share Acquisition Rights as Stock-Linked Compensation Type Stock Options | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| NIPPON AIR CONDITIONING SERVICES CO.,LTD. | 19-Jun-2020 | Annual General Meeting | 213,300 | | 6631664 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tanaka, Yoji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kusano, Koji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakamura, Hidekazu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Watanabe, Kazuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakamachi, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Murotani, Toshiaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tanaka, Toshio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Higashimoto, Tsuyoshi | MGMT | FOR | FOR |
| | | | | | | Approve Payment of Bonuses to Corporate Officers | MGMT | FOR | FOR |
| | | | | | | | | | |
| SUGIMOTO & CO.,LTD. | 19-Jun-2020 | Annual General Meeting | 79,600 | | 6856928 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sugimoto, Masahiro | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Sakaguchi, Shosaku | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sugimoto, Toshio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sugimoto, Naohiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Miyaji, Kamezo | MGMT | FOR | FOR |
| | | | | | | | | | |
| T&K TOKA CO.,LTD. | 19-Jun-2020 | Annual General Meeting | 385,800 | | 6038469 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Masuda, Yoshikatsu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yoshimura, Akira | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Hojo, Minoru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kurimoto, Ryuichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nakama, Kazuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Isogai, Kota | MGMT | AGAINST | AGAINST |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| SEIREN CO.,LTD. | 19-Jun-2020 | Annual General Meeting | 378,800 | | 6793520 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kawada, Tatsuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tsubota, Koji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yu Hui | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Oenoki, Toshiyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamada, Hideyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kawada, Koji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kitabata, Takao | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hotta, Kensuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sasae, Kenichiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ueyama, Koichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Katsuki, Tomofumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Takezawa, Yasunori | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Makida, Hiroyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Kishi, Hidekatsu | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Kaiami, Makoto | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Kosaka, Keizo | MGMT | FOR | FOR |
| | | | | | | | | | |
| NS SOLUTIONS CORPORATION | 19-Jun-2020 | Annual General Meeting | 47,600 | | 6544687 | Appoint a Director Morita, Hiroyuki | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Kondo, Kazumasa | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Oshiro, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Matsumura, Atsuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fukushima, Tetsuji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tamaoki, Kazuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yoshida, Katsuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Aoshima, Yaichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ishii, Atsuko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ishii, Ichiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Sato, Akira | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Change Company Location | MGMT | FOR | FOR |
| | | | | | | | | | |
| AMIYAKI TEI CO.,LTD. | 19-Jun-2020 | Annual General Meeting | 299,800 | | 6567565 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sato, Keisuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Chijiwa, Yasushi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Funayama, Michio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sato, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Takeuchi, Takamori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Akioka, Kenji | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Nakanishi, Yasuhiro | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Sato, Kazuya | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Yasui, Toshiyuki | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Corporate Auditor Onishi, Hidenori | MGMT | FOR | FOR |
| | | | | | | Appoint Accounting Auditors | MGMT | FOR | FOR |
| | | | | | | | | | |
| SUNDRUG CO.,LTD. | 20-Jun-2020 | Annual General Meeting | 24,800 | | 6817895 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Saitsu, Tatsuro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sadakata, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tada, Naoki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tada, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sugiura, Nobuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Matsumoto, Masato | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tsuji, Tomoko | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Ozawa, Tetsuro | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Shinohara, Kazuma | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| NITTO KOHKI CO.,LTD. | 23-Jun-2020 | Annual General Meeting | 187,400 | | 6625894 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Mikiya, Toshio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ogata, Akinobu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Takata, Yoko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Mori, Kenji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakagawa, Yasuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Komiyama, Mitsuru | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Kagami, Hirohisa | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Shinozuka, Hisashi | MGMT | FOR | FOR |
| | | | | | | Approve Provision of Retirement Allowance for Retiring Corporate Auditors | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Substitute Corporate Auditor Yamada, Hideo | MGMT | FOR | FOR |
| | | | | | | | | | |
| PALTAC CORPORATION | 23-Jun-2020 | Annual General Meeting | 43,100 | | B61BG94 | Appoint a Director Mikita, Kunio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kasutani, Seiichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Noma, Masahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Moriya, Akiyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shimada, Masaharu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yogo, Katsutoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Oishi, Kaori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Asada, Katsumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Kanaoka, Yukihiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Kotera, Yohei | MGMT | FOR | FOR |
| | | | | | | | | | |
| FUJI SEAL INTERNATIONAL,INC. | 23-Jun-2020 | Annual General Meeting | 13,300 | | 5877221 | Appoint a Director Kato, Fumio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shioji, Hiroumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Maki, Tatsundo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Seki, Yuichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Okazaki, Shigeko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shirokawa, Masayuki | MGMT | FOR | FOR |
| | | | | | | | | | |
| CHUBU STEEL PLATE CO.,LTD. | 23-Jun-2020 | Annual General Meeting | 98,000 | | 6195739 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Matsuda, Susumu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Miyahana, Hideki | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Mizutani, Tadashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Nomura, Yasuhiro | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Corporate Auditor Hirano, Takahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Nishigaki, Makoto | MGMT | FOR | FOR |
| | | | | | | | | | |
| THE YAMANASHI CHUO BANK,LTD. | 24-Jun-2020 | Annual General Meeting | 177,300 | | 6985361 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shindo, Nakaba | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Seki, Mitsuyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kitta, Kazuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Osada, Yukio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tanaka, Norihiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fujita, Yutaka | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Furuya, Yoshiaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Furuya, Fumihiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamadera, Masahiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Masukawa, Michio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kano, Riyo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ichikawa, Miki | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Omata, Akira | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Asai, Kimihiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Horiuchi, Koichiro | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Corporate Auditor Nagahara, Yoshiyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Mizutani, Minako | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Outside Directors) | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal
| Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| SHIN-ETSU POLYMER CO.,LTD. | 24-Jun-2020 | Annual General Meeting | 64,500 | | 6805704 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Approve Delegation of Authority to the Board of Directors to Determine Details of Share Acquisition Rights Issued as Stock Options for Employees of the Company and Directors of the Company’s Subsidiaries | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| THE TAIKO BANK,LTD. | 24-Jun-2020 | Annual General Meeting | 132,600 | | 6871493 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Koide, Tetsuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Ishida, Yukio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kamegai, Shinichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kondo, Kieichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Tawaragi, Minoru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kawai, Shoichi | MGMT | FOR | FOR |
| | | | | | | | | | |
| YUSHIRO CHEMICAL INDUSTRY CO.,LTD. | 24-Jun-2020 | Annual General Meeting | 286,700 | | 6988757 | Appoint a Substitute Director who is Audit and Supervisory Committee Member Sato, Tsuneo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Ogo, Eiichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Arisaka, Masanori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kikuchi, Shingo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Ishikawa, Takuya | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Takahashi, Seiji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nakano, Masafumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Iizuka, Katsuko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Koshiba, Miki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Yamazaki, Toshio | MGMT | FOR | FOR |
| | | | | | | Approve Provision of Retirement Allowance for Retiring Directors (Excluding Directors who are Audit and Supervisory Committee Members) | MGMT | AGAINST | AGAINST |
| | | | | | | Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members and Outside Directors) | MGMT | FOR | FOR |
| | | | | | | | | | |
| SERIA CO.,LTD. | 24-Jun-2020 | Annual General Meeting | 183,800 | | 6680718 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kawai, Eiji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Iwama, Yasushi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Tanaka, Masahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Nakamura, Noboru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Suzuki, Hiroto | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Kataoka, Noriaki | MGMT | FOR | FOR |
| | | | | | | Approve Provision of Retirement Allowance for Retiring Directors (Excluding Directors who are Audit and Supervisory Committee Members) | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| NICHIHA CORPORATION | 24-Jun-2020 | Annual General Meeting | 70,600 | | 6638331 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamanaka, Tatsuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kojima, Kazuyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tonoi, Kazushi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kawamura, Yoshinori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kawashima, Hisayuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kesamaru, Kazuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yoshida, Yasunori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yoshioka, Narumitsu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yagi, Kiyofumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tajiri, Naoki | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Mizuno, Akihiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Sugiura, Katsumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Nishi, Hiroaki | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| YURTEC CORPORATION | 24-Jun-2020 | Annual General Meeting | 478,300 | | 6894672 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Satake, Tsutomu | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Ota, Yoshiharu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Oikawa, Masahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kobayashi, Ikumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ogasawara, Tatsuji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Inazuma, Hidetoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sugawara, Kazunari | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hasegawa, Hisaaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Masuko, Jiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Mitsui, Seiichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fukui, Kuniaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Onodera, Yuichi | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Corporate Auditor Yamamoto, Yuji | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Yamamoto, Shunji | MGMT | FOR | FOR |
| | | | | | | | | | |
| NICHIREI CORPORATION | 24-Jun-2020 | Annual General Meeting | 43,900 | | 5809042 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Otani, Kunio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Okushi, Kenya | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Taguchi, Takumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kaneko, Yoshifumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kawasaki, Junji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Umezawa, Kazuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Takenaga, Masahiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Uzawa, Shizuka | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Wanibuchi, Mieko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shoji, Kuniko | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Asahina, Kiyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Kiyota, Muneaki | MGMT | FOR | FOR |
| | | | | | | | | | |
| PIOLAX,INC. | 24-Jun-2020 | Annual General Meeting | 244,400 | | 6485968 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Director who is Audit and Supervisory Committee Member Aizawa, Yasuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Shimazu, Yukihiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nagamine, Michio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Suzuki, Toru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sugiyama, Harumitsu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Masuda, Shigeru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Oka, Toru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Nagamura, Yukio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Asano, Kenichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Komiyama, Sakae | MGMT | FOR | FOR |
| | | | | | | | | | |
| MAKINO MILLING MACHINE CO.,LTD. | 24-Jun-2020 | Annual General Meeting | 69,600 | | 6555708 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Inoue, Shinichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ueda, Yoshiki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nagano, Toshiyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Aiba, Tatsuaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yoshidome, Shin | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Masuda, Naofumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamazaki, Kodo | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Nakashima, Jiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Yamaguchi, Jinei | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| YAMASHIN-FILTER CORP. | 24-Jun-2020 | Annual General Meeting | 33,700 | | BQQD1C3 | Appoint a Director who is not Audit and Supervisory Committee Member Yamazaki, Atsuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Ioka, Chikahisa | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yamazaki, Hiroaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Morita, Hideaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Fukuzaki, Shinya | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Okoshi, Kazuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Itano, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Outside Directors and Directors who are Audit and Supervisory Committee Members) | MGMT | FOR | FOR |
| | | | | | | | | | |
| SHINKO ELECTRIC INDUSTRIES CO.,LTD. | 24-Jun-2020 | Annual General Meeting | 34,400 | | 6804927 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Fujita, Masami | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Hasebe, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kodaira, Tadashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Ozawa, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Niimi, Jun | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Ito, Akihiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Araki, Namiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Kobayashi, Kunikazu | MGMT | FOR | FOR |
| | | | | | | Approve Payment of Bonuses to Corporate Officers | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| RICOH LEASING COMPANY,LTD. | 24-Jun-2020 | Annual General Meeting | 82,300 | | 6729116 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Director who is Audit and Supervisory Committee Member Doi, Shinichiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Segawa, Daisuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nakamura, Tokuharu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kawaguchi, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sano, Hirozumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Seto, Kaoru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Futamiya, Masaya | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Arakawa, Masako | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sato, Shinji | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Ebisui, Mari | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nakamura, Akira | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Harasawa, Atsumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Ishiguro, Kazuya | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Tokumine, Kazuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Kawashima, Tokio | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Change Company Location, Increase Capital Shares to be issued, Increase the Board of Directors Size, Transition to a Company with Supervisory Committee, Approve Minor Revisions | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members) | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Compensation to be received by Directors who are Audit and Supervisory Committee Members | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Stock Compensation to be received by Directors | MGMT | FOR | FOR |
| | | | | | | | | | |
| THE KEIYO BANK,LTD. | 25-Jun-2020 | Annual General Meeting | 520,300 | | 6190648 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hashimoto, Kiyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Akiyama, Satoru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fujisaki, Kazuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sato, Seiji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Saito, Yasushi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Uchimura, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tobe, Tomoko | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Hieda, Kazuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Iwahara, Junichi | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| THE AKITA BANK,LTD. | 25-Jun-2020 | Annual General Meeting | 204,600 | | 6011653 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Director who is Audit and Supervisory Committee Member Matsui, Hideki | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Araya, Akihiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sasaki, Toshiyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Handa, Naoki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Tsuchiya, Masato | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Minakawa, Tsuyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Miura, Chikara | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Miura, Hiroyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Ashida, Kosuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Tsuji, Yoshiyuki | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sakaki, Junichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nakata, Naofumi | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Sato, Masahiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Morohashi, Masahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Kobayashi, Kenichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Omoteyama, Kyoko | MGMT | FOR | FOR |
| | | | | | | | | | |
| SG HOLDINGS CO.,LTD. | 25-Jun-2020 | Annual General Meeting | 96,500 | | BFFY885 | Appoint a Director Kuriwada, Eiichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Araki, Hideo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakajima, Shunichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Motomura, Masahide | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kawanago, Katsuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Matsumoto, Hidekazu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Takaoka, Mika | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sagisaka, Osami | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Akiyama, Masato | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Tajima, Satoshi | MGMT | FOR | FOR |
| | | | | | | | | | |
| OSAKA STEEL CO.,LTD. | 25-Jun-2020 | Annual General Meeting | 674,700
| | 6662095 | Appoint a Director Nomura, Taisuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fujita, Kazuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Wakatsuki, Teruyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakashima, Katsuhide | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ono, Kentaro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Imanaka, Kazuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ishikawa, Hironobu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Matsuzawa, Shinya | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Sugimoto, Shigeji | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Amend Business Lines | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Corporate Auditor Kishimoto, Tatsuji | MGMT | FOR | FOR |
| | | | | | | | | | |
| TOENEC CORPORATION | 25-Jun-2020 | Annual General Meeting | 82,300 | | 6895620 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ono, Tomohiko | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Takagi, Isao | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Takimoto, Tsuguhisa | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nishiwaki, Tetsuya | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hirata, Koji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fujita, Yuzo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Horiuchi, Yasuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Mizuno, Asayuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Iizuka, Atsushi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Inagaki, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yoshikawa, Naotoshi | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| SOKEN CHEMICAL & ENGINEERING CO.,LTD. | 25-Jun-2020 | Annual General Meeting | 59,300 | | 6338910 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Osaka, Noriyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fukuda, Junichiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sato, Masahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Izumiura, Nobuyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Takizawa, Kiyotaka | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tsuchiya, Jun | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kamiyama, Kenjiro | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Approve Minor Revisions | MGMT | FOR | FOR |
| | | | | | | | | | |
| NISHIKAWA RUBBER CO.,LTD. | 25-Jun-2020 | Annual General Meeting | 219,500 | | 6646862 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nishikawa, Masahiro | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Fukuoka, Yoshitomo | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kataoka, Nobukazu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Ogawa, Hideki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Marume, Yoshihiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Naito, Makoto | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Ikemoto, Mitsuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Iwamoto, Tadao | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yasuishi, Keiji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Teishi, Minoru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Deguchi, Koso | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Tatsudai, Akihiko | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members) | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Restricted-Share Compensation to be received by Directors who are Audit and Supervisory Committee Members (Excluding Outside Directors) | MGMT | AGAINST | AGAINST |
| | | | | | | Shareholder Proposal: Approve Purchase of Own Shares | SHAREHOLDER | FOR | AGAINST |
| | | | | | | Approve Continuance of Policy regarding Large-scale Purchases of Company Shares (Anti-Takeover Defense Measures) | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| MORY INDUSTRIES INC. | 25-Jun-2020 | Annual General Meeting | 55,400 | | 6602541 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Mori, Hiroaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Matsumoto, Hidehiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Asano, Hiroaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nakanishi, Masato | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Koike, Hiroki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Hayashi, Shuichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Iwasaki, Taishi | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Reduce the Board of Directors Size, Adopt an Executive Officer System, Approve Minor Revisions | MGMT | FOR | FOR |
| | | | | | | Approve Provision of Retirement Allowance for Retiring Directors (Excluding Directors who are Audit and Supervisory Committee Members) | MGMT | AGAINST | AGAINST |
| | | | | | | Approve Details of the Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members) | MGMT | FOR | FOR |
| | | | | | | | | | |
| MATSUDA SANGYO CO.,LTD. | 25-Jun-2020 | Annual General Meeting | 82,100 | | 6570596 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Matsuda, Yoshiaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Tsushima, Koji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Katayama, Yuji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yamazaki, Ryuichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Isawa, Kenji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Tsuzuki, Junichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Ueda, Takehiro | MGMT | FOR | FOR |
| | | | | | | Approve Provision of Retirement Allowance for Retiring Directors (Excluding Directors who are Audit and Supervisory Committee Members) | MGMT | AGAINST | AGAINST |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| DAINICHI CO.,LTD. | 25-Jun-2020 | Annual General Meeting | 160,000 | | 6252355 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yoshii, Hisao | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Tamura, Masahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yoshii, Yui | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kaiho, Masahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Hara, Shinya | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Noguchi, Takeshi | MGMT | FOR | FOR |
| | | | | | | Approve Provision of Retirement Allowance for Retiring Directors | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| ASIA PILE HOLDINGS CORPORATION | 25-Jun-2020 | Annual General Meeting | 233,100 | | B06D3N6 | Appoint a Director Kurose, Akira | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kurose, Shusuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Isono, Yoriyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kotera, Koji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Baba, Osami | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Okoshi, Masahiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shigematsu, Toru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Phan Khac Long | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Watanabe, Akira | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shiraga, Yohei | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kamimae, Osamu | MGMT | FOR | FOR |
| | | | | | | | | | |
| NAFCO CO.,LTD. | 25-Jun-2020 | Annual General Meeting | 48,300 | | 6712815 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Kobayashi, Koichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Fukuda, Yoshinori | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Fujii, Susumu | MGMT | FOR | FOR |
| | | | | | | Approve Provision of Retirement Allowance for Retiring Corporate Officers | MGMT | AGAINST | AGAINST |
| | | | | | | Approve Payment of Bonuses to Corporate Officers | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| AOI ELECTRONICS CO.,LTD. | 25-Jun-2020 | Annual General Meeting | 31,600 | | 4272333 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nakayama, Koji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kinoshita, Kazuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Okada, Yoshio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Saeki, Norio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Takao, Daisuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Fukuda, Kazuyuki | MGMT | FOR | FOR |
| | | | | | | | | | |
| KOMATSU WALL INDUSTRY CO.,LTD. | 25-Jun-2020 | Annual General Meeting | 30,700 | | 6498762 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kano, Yutaka | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kumada, Masami | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yamada, Shinichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kano, Shinya | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Hirose, Norio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Aya, Yukio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Hachiya, Toshio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Kaneko, Shinichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Miyamae, Satoru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Matsuki, Koichi | MGMT | FOR | FOR |
| | | | | | | | | | |
| SEKISUI JUSHI CORPORATION | 25-Jun-2020 | Annual General Meeting | 144,400 | | 6793843 | Appoint a Director Fukui, Yaichiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Baba, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Wakui, Shiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Takano, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ito, Satoko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shibanuma, Yutaka | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hamada, Jun | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sasaki, Katsuyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Inaba, Yoshimasa | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Onaka, Tsuchikazu | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Tsujiuchi, Akira | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| DAIBIRU CORPORATION | 25-Jun-2020 | Annual General Meeting | 132,400 | | 6661672 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sonobe, Toshiyuki | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Narita, Junichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tanaka, Kensuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ota, Takehiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tainaka, Hideki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Oi, Atsushi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Miyanoya, Atsushi | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Restricted-Share Compensation to be received by Directors | MGMT | FOR | FOR |
| | | | | | | Approve Payment of Bonuses to Directors | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Corporate Auditor Morimoto, Hiroshi | MGMT | FOR | FOR |
| | | | | | | | | | |
| MORITA HOLDINGS CORPORATION | 25-Jun-2020 | Annual General Meeting | 69,500 | | 6602745 | Appoint a Director Nakajima, Masahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ogata, Kazumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Morimoto, Kunio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kanaoka, Shinichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Isoda, Mitsuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kawanishi, Takao | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hojo, Masaki | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Compensation to be received by Directors | MGMT | FOR | FOR |
| | | | | | | | | | |
| SHIKOKU CHEMICALS CORPORATION | 25-Jun-2020 | Annual General Meeting | 164,500 | | 6804303 | Appoint a Director Tanaka, Naoto | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yoshioka, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Matsubara, Jun | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Watanabe, Mitsunori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hamazaki, Makoto | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Manabe, Yoshinori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Enjo, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shibuya, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Terada, Toshifumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Harada, Shuitsu | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Kagoike, Nobuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Corporate Auditor Mizuno, Takeo | MGMT | AGAINST | AGAINST |
| | | | | | | Approve Continuance of Policy regarding Large-scale Purchases of Company Shares (Anti-Takeover Defense Measures) | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| KOATSU GAS KOGYO CO.,LTD. | 25-Jun-2020 | Annual General Meeting | 562,500 | | 6495967 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Approve Payment of Bonuses to Directors | MGMT | FOR | FOR |
| | | | | | | | | | |
| TOTETSU KOGYO CO.,LTD. | 25-Jun-2020 | Annual General Meeting | 90,800 | | 6897444 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Yagishita, Naomichi | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Koike, Hitoshi | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Suga, Katsumi | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Ogashiwa, Hideo | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Shimomura, Hikaru | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Nakamura, Tomohisa | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Suetsuna, Takashi | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Nakayama, Hiroshi | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Nakanishi, Masaaki | MGMT | AGAINST | AGAINST |
| | | | | |
| Appoint a Corporate Auditor Ayabe, Mitsumasa | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL |
Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| NIHON M&A CENTER INC. | 25-Jun-2020 | Annual General Meeting | 45,500 | | B1DN466 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Director who is Audit and Supervisory Committee Member Shiga, Katsumasa | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Wakebayashi, Yasuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Miyake, Suguru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Naraki, Takamaro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Otsuki, Masahiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Takeuchi, Naoki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Watanabe, Tsuneo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kumagai, Hideyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Mori, Tokihiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Anna Dingley | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Takeuchi, Minako | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Hirayama, Iwao | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Kinoshita, Naoki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Yamada, Yoshinori | MGMT | FOR | FOR |
| | | | | | | | | | |
| SANYO SPECIAL STEEL CO.,LTD. | 25-Jun-2020 | Annual General Meeting | 113,200 | | 6777063 | Appoint a Director Higuchi, Shinya | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Takahashi, Kozo | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Oi, Shigehiro | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Omae, Kozo | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Yanagimoto, Katsu | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Kobayashi, Takashi | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Onishi, Tamae | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Usuki, Masaharu | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Masumitsu, Noriyuki | MGMT | AGAINST | AGAINST |
| | | | | |
| Appoint a Corporate Auditor Tsuga, Hiroshi | MGMT | FOR | FOR |
| | | | | |
| Appoint a Substitute Corporate Auditor Kobayashi, Akihiro | MGMT | FOR | FOR |
| | | | | | | | | | |
| TOPRE CORPORATION | 25-Jun-2020 | Annual General Meeting | 127,500 | | 6894928 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Uchigasaki, Shinichiro | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Sawa, Takashi | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Yamamoto, Yutaka | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Tsuyuki, Yoshinori | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Furusawa, Ryosuke | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Harata, Katsuro | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Osaki, Masao | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Shimizu, Hideo | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Matsuo, Masahiro | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Uchida, Akemi | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Takada, Tsuyoshi | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Ogasawara, Naoshi | MGMT | FOR | FOR |
| | | | | | | | | | |
| NETUREN CO.,LTD. | 25-Jun-2020 | Annual General Meeting | 575,600 | | 6629540 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Mizoguchi, Shigeru | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Omiya, Katsumi | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Ishiki, Nobumoto | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Yasukawa, Tomokatsu | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Suzuki, Takashi | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Misaka, Yoshitaka | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Murai, Nobuhiro | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Hisada, Naoki | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Teraura, Yasuko | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director Hanai, Mineo | MGMT | FOR | FOR |
| | | | | |
| Appoint a Corporate Auditor Ikegami, Yoshihiro | MGMT | FOR | FOR |
| | | | | |
| Appoint a Corporate Auditor Nakano, Takeshi | MGMT | FOR | FOR |
| | | | | |
| Appoint a Corporate Auditor Enjitsu, Minoru | MGMT | FOR | FOR |
| | | | | |
| Approve Adoption of the Performance-based Compensation and the Stock Compensation to be received by Directors | MGMT | FOR | FOR |
| | | | | |
| Appoint a Substitute Corporate Auditor Takahashi, Daisuke | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| NIPPON PILLAR PACKING CO.,LTD. | 25-Jun-2020 | Annual General Meeting | 97,000 | | 6641135 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Iwanami, Kiyohisa | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Iwanami, Yoshinobu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Hoshikawa, Ikuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Shukunami, Katsuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Suzuki, Yoshinori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Komamura, Junichi | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Approve Minor Revisions | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Outside Directors and Directors who are Audit and Supervisory Committee Members) | MGMT | FOR | FOR |
| | | | | | | Approve Continuance of Policy regarding Large-scale Purchases of Company Shares (Anti-Takeover Defense Measures) | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| KANADEN CORPORATION | 25-Jun-2020 | Annual General Meeting | 249,000 | | 6483304 | Appoint a Director Motohashi, Nobuyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shimamoto, Kazunori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Jin, Takeshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nagashima, Yoshiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Mori, Hisataka | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Saito, Shinsuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Iguchi, Akio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Saigusa, Hironori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Moriya, Futoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Sakai, Harushige | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Yamamura, Kozo | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Corporate Auditor Nomiyama, Yutaka | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Ipposhi, Nobutake | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Corporate Auditor Nagase, Yukiharu | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Substitute Corporate Auditor Takeuchi, Akira | MGMT | FOR | FOR |
| | | | | | | | | | |
| RYODEN CORPORATION | 25-Jun-2020 | Annual General Meeting | 695,100 | | 6763006 | Appoint a Director Shogaki, Nobuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamazaki, Hideharu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kitai, Shoji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tanaka, Osamu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Miyagishi, Masamitsu | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Shirata, Yoshiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Muroi, Masahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Ishino, Hideyo | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Suzuki, Masato | MGMT | FOR | FOR |
| | | | | | | | | | |
| THE MUSASHINO BANK,LTD. | 25-Jun-2020 | Annual General Meeting | 119,400 | | 6611440 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Otomo, Ken | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Kemmochi, Yoshio | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Tanaka, Yuichi | MGMT | FOR | FOR |
| | | | | | | | | | |
| TOKAI TOKYO FINANCIAL HOLDINGS,INC. | 25-Jun-2020 | Annual General Meeting | 109,800 | | 6894876 | Appoint a Director who is not Audit and Supervisory Committee Member Ishida, Tateaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kawamoto, Masahide | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sato, Masataka | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Mizuno, Ichiro | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Fujiwara, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Ono, Tetsuji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Inoue, Keisuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Nakayama, Tsunehiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Yamazaki, Joichi | MGMT | FOR | FOR |
| | | | | | | Remove a Director who is not Audit and Supervisory Committee Member Ishida, Tateaki | SHAREHOLDER | FOR | AGAINST |
| | | | | | | Approve Issuance of Share Acquisition Rights as Stock Options for Directors and Employees of the Company and the Company’s Subsidiaries | MGMT | AGAINST | AGAINST |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| FUKUOKA FINANCIAL GROUP,INC. | 26-Jun-2020 | Annual General Meeting | | | B1TK1Y8 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Director who is Audit and Supervisory Committee Member Gondo, Naohiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Director who is Audit and Supervisory Committee Member Miura, Masamichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Shibato, Takashige | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yoshida, Yasuhiko | MGMT | FOR
| FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Shirakawa, Yuji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Morikawa, Yasuaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yokota, Koji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nomura, Toshimi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Mori, Takujiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Fukasawa, Masahiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kosugi, Toshiya | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Tanaka, Kazunori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Yamada, Hideo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Ishibashi, Nobuko | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Increase the Board of Directors Size, Transition to a Company with Supervisory Committee, Approve Minor Revisions | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members) | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Compensation to be received by Directors who are Audit and Supervisory Committee Members | MGMT | FOR | FOR |
| | | | | | | | | | |
| THE BANK OF OKINAWA,LTD. | 26-Jun-2020 | Annual General Meeting | 76,800 | | 6657983 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tamaki, Yoshiaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamashiro, Masayasu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kinjo, Yoshiteru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamashiro, Tatsuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Iha, Kazuya | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Takara, Shigeru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hosomi, Masahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ando, Hirokazu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Toyama, Keiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Murakami, Naoko | MGMT | FOR | FOR |
| | | | | | | Approve Payment of Bonuses to Corporate Officers | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| THE OKINAWA ELECTRIC POWER COMPANY,INCORPORATED | 26-Jun-2020 | Annual General Meeting | 199,677 | | 6658050 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakahodo, Hiraku | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Onkawa, Hideki | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Kobashigawa, Kenji | MGMT | FOR | FOR |
| | | | | | | Approve Payment of Bonuses to Directors | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| STARTS CORPORATION INC. | 26-Jun-2020 | Annual General Meeting | 61,700 | | 6841913 | Appoint a Director Muraishi, Hisaji | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Isozaki, Kazuo | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Muraishi, Toyotaka | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Saito, Taroo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Naoi, Hideyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakamatsu, Manabu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Naoi, Tamotsu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hasegawa, Takahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Muramatsu, Hisayuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamazaki, Chisato | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hironaka, Yoshimichi | MGMT | FOR | FOR |
| | | | | | | Approve Provision of Retirement Allowance for Retiring Directors | MGMT | AGAINST | AGAINST |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| FUJIKURA KASEI CO.,LTD. | 26-Jun-2020 | Annual General Meeting | 1,143,200 | | 6356729 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kato, Daisuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Ueda, Hikoji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Shimoda, Yoshizo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kajiwara, Hisashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Watanabe, Hiroaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Takano, Masahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Watanabe, Satoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Tanaka, Osamu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nagahama, Yoichi | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| NICHIA STEEL WORKS,LTD. | 26-Jun-2020 | Annual General Meeting | 1,867,000 | | 6638160 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Onishi, Toshinori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Gotoda, Hideaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakatani, Yoshiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Shitatoku, Hiroyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Onishi, Nobuhiko | MGMT | FOR | FOR |
| | | | | | | Approve Provision of Retirement Allowance for Retiring Directors | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Substitute Corporate Auditor Kitabatake, Shoji | MGMT | AGAINST | AGAINST |
| | | | | | | | | | |
| C.UYEMURA & CO.,LTD. | 26-Jun-2020 | Annual General Meeting | 45,700 | | 6089014 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nishimoto, Kaori | MGMT | FOR | FOR |
| | | | | | | | | | |
| JAPAN TRANSCITY CORPORATION | 26-Jun-2020 | Annual General Meeting | 30,800 | | 6986386 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Ito, Hisaya | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Nagata, Akio | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Aburaya, Tadashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Matsumura, Itaru | MGMT | FOR | FOR |
| | | | | | | | | | |
| MEIKO TRANS CO.,LTD. | 26-Jun-2020 | Annual General Meeting | 314,800 | | 6575944 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Miyazaki, Kazuhiko | MGMT | FOR | FOR |
| | | | | | | Remove a Director Takahashi, Jiro | SHAREHOLDER | FOR | AGAINST |
| | | | | | | Remove a Director Fujimori, Toshio | SHAREHOLDER | FOR | AGAINST |
| | | | | | | Remove a Director Takahashi, Hiroshi | SHAREHOLDER | FOR | AGAINST |
| | | | | | | | | | |
| YOSSIX CO.,LTD. | 26-Jun-2020 | Annual General Meeting | 62,000 | | BSZM2R7 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yoshioka, Masanari | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Segawa, Masahito | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Yoshioka, Yutaro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Watanabe, Ryuji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Osaki, Atsuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Uemura, Ryoji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hori, Yuji | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Substitute Corporate Auditor Date, Tomio | MGMT | FOR | FOR |
| | | | | | | | | | |
| YONDENKO CORPORATION | 26-Jun-2020 | Annual General Meeting | 59,200 | | 6804433 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Miyauchi, Yoshinori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Suehiro, Kenji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Furukawa, Toshifumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sekiya, Yukio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Matsuoka, Kazuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shigematsu, Masao | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Takahashi, Ryo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamasaki, Naoki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shirai, Hisashi | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Moriito, Shigeki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Manabe, Yoko | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Restricted-Share Compensation to be received by Directors | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | | | | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| HISAKA WORKS,LTD. | 26-Jun-2020 | Annual General Meeting | 23,500 | | 6428866 | Appoint a Director Takeshita, Yoshikazu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Inoue, Tetsuya | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ota, Koji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Iizuka, Tadashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Funakoshi, Toshiyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Mizumoto, Koji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tsuno, Yuko | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Nakai, Akira | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Fujita, Noriyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Corporate Auditor Yamauchi, Toshiyuki | MGMT | FOR | FOR |
| | | | | | | |
| | |
| ELEMATEC CORPORATION | 26-Jun-2020 | Annual General Meeting | 20,500 | | 6406237 | Appoint a Director Kato, Jun | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yokode, Akira | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Suzuki, Nobuo | MGMT | FOR | FOR
|
| | | | | | | Appoint a Director Kawafuji, Sei | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tsubakimoto, Mitsuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kakihara, Yasuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Seki, Sosuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Maeda, Tatsumi | MGMT | FOR | FOR
|
| | | | | | | Appoint a Director Yatsu, Yoshiaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Shimizu, Atsushi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Tanoue, Seishi | MGMT | FOR | FOR |
| | | | | | | Amend Articles to: Allow Use of Electronic Systems for Public Notifications | MGMT | FOR | FOR |
| | | | | | | | | | |
| OBIC CO.,LTD. | 26-Jun-2020 | Annual General Meeting | 8,900 | | 6136749 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Noda, Masahiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tachibana, Shoichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kawanishi, Atsushi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Noda, Mizuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fujimoto, Takao | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ida, Hideshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ueno, Takemitsu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Gomi, Yasumasa | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ejiri, Takashi | MGMT | FOR | FOR |
| | | | | | | | | | |
| SUMITOMO METAL MINING CO.,LTD. | 26-Jun-2020 | Annual General Meeting | 2,300 | | 6858849 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakazato, Yoshiaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nozaki, Akira | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Asahi, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Matsumoto, Nobuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Higo, Toru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakano, Kazuhisa | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Ishii, Taeko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kinoshita, Manabu | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Ino, Kazushi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Nakayama, Yasuyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Yoshida, Wataru | MGMT | FOR | FOR |
| | | | | | | Approve Payment of Bonuses to Directors | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Corporate Auditor Mishina, Kazuhiro | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| RINNAI CORPORATION | 26-Jun-2020 | Annual General Meeting | 15,700 | | 6740582 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hayashi, Kenji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Naito, Hiroyasu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Narita, Tsunenori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kosugi, Masao | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kondo, Yuji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Matsui, Nobuyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kamio, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Ishikawa, Haruhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Shinji, Katsuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Matsuoka, Masaaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Watanabe, Ippei | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Corporate Auditor Ishikawa, Yoshiro | MGMT | FOR | FOR |
| | | | | | | | | | |
| MIURA CO.,LTD. | 26-Jun-2020 | Annual General Meeting | 34,900 | | 6597777 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Takahashi, Yuji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Miyauchi, Daisuke | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nishihara, Masakatsu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Takechi, Noriyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kojima, Yoshihiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yoneda, Tsuyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Ochi, Yasuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Higuchi, Tateshi | MGMT | FOR | FOR |
| | | | | | | | | | |
| SHINDENGEN ELECTRIC MANUFACTURING CO.,LTD. | 26-Jun-2020 | Annual General Meeting | 7,400 | | 6804541 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Suzuki, Yoshinori | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Negishi, Yasumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Horiguchi, Kenji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tanaka, Nobuyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yamada, Ichiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hashimoto, Hideyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Corporate Auditor Chiba, Shoji | MGMT | FOR | FOR |
| | | | | | | | | | |
| KOITO MANUFACTURING CO.,LTD. | 26-Jun-2020 | Annual General Meeting | 40,500 | | 6496324 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Kikuchi, Mitsuo | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Kawaguchi, Yohei | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Suzuki, Yukinobu | MGMT | FOR | FOR |
| | | | | | | | | | |
| NIPPON SEIKI CO.,LTD. | 26-Jun-2020 | Annual General Meeting | 45,200 | | 6642536 | Appoint a Director who is not Audit and Supervisory Committee Member Sato, Koichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Hirata, Yuji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Azuma, Masatoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Osaki, Yuji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nagai, Shoji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Okawa, Makoto | MGMT | FOR | FOR |
| PROXY VOTING REPORT |
| FOR THE PERIOD JULY 1, 2019 TO JUNE 30, 2020 |
| JAPAN SMALLER CAPITALIZATION FUND |
| |
| Company Name | Meeting Date | Meeting Type | Voted Shares | | SEDOL | Proposal | Proposed By | For/Against MGMT | Vote |
| | | | | | | | | | |
| TENMA CORPORATION | 26-Jun-2020 | Annual General Meeting | 155,800 | | 6884231 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | |
| Appoint a Director who is not Audit and Supervisory Committee Member Kaneda, Hiroshi | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sudo, Takashi | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Hirono, Hirohiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yosano, Akira | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Nagai, Yuichi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Hayashi, Shiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kurahashi, Hirofumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Matsuyama, Shoji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Kan, Koichi | MGMT | FOR | FOR |
| | | | | | | Appoint Accounting Auditors | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Haruyama, Yukio | SHAREHOLDER | FOR | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Tateno, Kazuharu | SHAREHOLDER | FOR | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Yanagisawa, Yoshiyuki | SHAREHOLDER | FOR | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sakai, Ichiro | SHAREHOLDER | FOR | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kawamura, Shuji | SHAREHOLDER | FOR | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Tsutsuno, Nobunoshin | SHAREHOLDER | FOR | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Egawa, Tomohisa | SHAREHOLDER | FOR | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Fuchigami, Keisuke | SHAREHOLDER | FOR | AGAINST |
| | | | | | | | | | |
| HITACHI CAPITAL CORPORATION | 29-Jun-2020 | Annual General Meeting | 104,900 | | 5754238 | Appoint a Director Hiraiwa, Koichiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sueyoshi, Wataru | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nakamura, Takashi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Sasaki, Yuri | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Hasegawa, Masahiko | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Oshima, Koichiro | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director Kawabe, Seiji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kojima, Kiyoshi | MGMT | FOR | FOR |
| | | | | | | | | | |
| ADEKA CORPORATION | 29-Jun-2020 | Annual General Meeting | 359,100 | | 6054904 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shirozume, Hidetaka | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tomiyasu, Haruhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Arata, Ryozo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kobayashi, Yoshiaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Fujisawa, Shigeki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Shiga, Yoji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yoshinaka, Atsuya | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Yasuda, Susumu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Kawamoto, Naoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Nagai, Kazuyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Endo, Shigeru | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Sato, Yoshiki | MGMT | FOR | FOR |
| | | | | | | | | | |
| OILES CORPORATION | 29-Jun-2020 | Annual General Meeting | 306,880 | | 6657530 | Approve Appropriation of Surplus | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Okayama, Toshio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Iida, Masami | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Suda, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Tanabe, Kazuharu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Miyazaki, Satoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Murayama, Shinichiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Director Omura, Yasuji | MGMT | FOR | FOR |
| | | | | | | Appoint a Corporate Auditor Mizoguchi, Katsuhiro | MGMT | FOR | FOR |
| | | | | | | Appoint a Substitute Corporate Auditor Tanaka, Koji | MGMT | FOR | FOR |
| | | | | | | | | | |
| MAXELL HOLDINGS,LTD. | 29-Jun-2020 | Annual General Meeting | 62,200 | | 6429386 | Appoint a Director who is not Audit and Supervisory Committee Member Nakamura, Keiji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Katsuta, Yoshiharu | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sumoto, Seiji | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Masuda, Noritoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Brian K. Heywood | MGMT | AGAINST | AGAINST |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Murase, Sachiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Suzuki, Hiroyuki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Izumi, Tatsuhiko | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is Audit and Supervisory Committee Member Watanabe, Shinobu | MGMT | FOR | FOR |
| | | | | | | Approve Provision of Retirement Allowance for Retiring Directors | MGMT | FOR | FOR |
| | | | | | | | | | |
| TOSHIBA MACHINE CO.,LTD. | 29-Jun-2020 | Annual General Meeting | 38,200 | | 6897262 | Appoint a Substitute Director who is Audit and Supervisory Committee Member Imamura, Akifumi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Iimura, Yukio | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sakamoto, Shigetomo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Kobayashi, Akiyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Ota, Hiroaki | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Sato, Kiyoshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Iwasaki, Seigo | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Inoue, Hiroshi | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Terawaki, Kazumine | MGMT | FOR | FOR |
| | | | | | | Appoint a Director who is not Audit and Supervisory Committee Member Hayakawa, Chisa | MGMT | FOR | FOR |
| | | | | | | Approve Details of the Restricted-Share Compensation to be received by Directors (Excluding Directors who are Audit and Supervisory Committee Members and Outside Directors) | MGMT | FOR | FOR |
