Abrdn Japan Equity Fund NPX Annual report of proxy voting record

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT

INVESTMENT COMPANY

Investment Company Act file number: 811-06142

THE JAPAN EQUITY FUND, INC.

(Exact name of registrant as specified in charter)

c/o Daiwa Securities Trust Company

One Evertrust Plaza

Jersey City, New Jersey 07302-3051

(Address of principal executive offices) (Zip code)

John J. O’Keefe

The Japan Equity Fund, Inc.

c/o Daiwa Securities Trust Company

One Evertrust Plaza

Jersey City, New Jersey 07302-3051

(Name and address of agent for service)

With copy to:

Leonard B. Mackey, Jr., Esq.

Clifford Chance US LLP

31 West 52nd Street

New York, New York 10019

Registrant’s telephone number, including area code: (201) 915-3054

Date of fiscal year end: October 31

Date of reporting period: June 30, 2009

Item 1. Proxy Voting Record for The Japan Equity Fund for the year ending June 30, 2009.

QUICK
CODE

ISIN CODE

SECURITY
DESCRIPTION

MEETING
DATE

AGENDA
NUMBER

PROPOSAL

MANAGEMENT
REC.

VOTE CAST

MANNER
CAST

SPONSOR

2261

JP3917800009

MEIJI DAIRIES CORP.

11/26/08

ESTABLISHMENT OF A COMPLETE PARENT COMPANY BY STOCK TRANSFER

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

8184

JP3356800007

SHIMACHU CO., LTD.

11/27/08

APPROPRIATION OF SURPLUS

For

Yes

For

Management

ELECTION OF 6 DIRECTORS - T.KOJIMA, S.YAMASHITA, H.TAKADA, K.HATATE, T.DEMURA, T.NAKAMURA

For

Yes

For

Management

ELECTION OF 4 CORPORATE AUDITORS - M.TAKEI, H.HIRATA, K.TAJIMA, H.YAMAGUCHI

For

Yes

Against

Management

RETIREMENT ALLOWANCES TO THE RETIRING AUDITORS

For

Yes

Against

Management

RETIREMENT ALLOWANCES TO THE RETIRING DIRECTORS AND AUDITORS, AND PROVISIONAL PAYMENT OF THE RETIREMENT ALLOWANCES ASSOCIATED WITH ABOLITION OF RETIREMENT ALLOWANCE SCHEME

For

Yes

Against

Management

6965

JP3771800004

HAMAMATSU PHOTONICS K.K.

12/19/08

APPROPRIATION OF SURPLUS

For

Yes

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

Against

Management

ELECTION OF 2 DIRECTORS - H.IIDA, T.SHIMAZU

For

Yes

Management

ELECTION OF 4 CORPORATE AUDITORS - M.MATSUI, Y.SUZUKI, H.SHIBATANI, T.IJICHI

For

Yes

Against

Management

RETIREMENT ALLOWANCES TO THE RETIRING DIRECTORS AND AUDITORS

For

Yes

Against

Management

5108

JP3830800003

BRIDGESTONE CORP.

3/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

Against

Management

ELECTION OF 9 DIRECTORS - S.ARAKAWA, O.INOUE, J.SATO, K.NISHIGAI, M.TSUYA, M.A.EMKES, T.TSUDA, K.KAKEHI, M.MASUNAGA

For

Yes

Against

Management

ELECTION OF 1 SUBSTITUTE CORPORATE AUDITOR - M.UCHIDA

For

Yes

For

Management

PROVISIONAL PAYMENT OF THE RETIREMENT ALLOWANCES ASSOCIATED WITH ABOLITION OF RETIREMENT ALLOWANCE SCHEME

For

Yes

For

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

PAYMENT OF COMPENSATION OF STOCK OPTIONS TO DIRECTORS

For

Yes

For

Management

5201

JP3112000009

ASAHI GLASS CO., LTD.

3/27/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 7 DIRECTORS - M.KADOMATSU, K.ISHIMURA, T.MATSUZAWA, K.KATO, K.MATSUO, H.SAWABE, T.NAGASHIMA

For

Yes

For

Management

ELECTION OF 2 CORPORATE AUDITORS - T.TERASHIMA, I.TAMAI

For

Yes

For

Management

DELEGATION OF THE AUTHORITY TO THE BOARD OF DIRECTORS TO DETERMINE THE TERMS AND CONDITIONS OF SHINKABU YOYAKU-KEN ISSUED TO EMPLOYEES OF THE COMPANY AND DIRECTORS AND EMPLOYEES OF THE SUBSIDIARIES AS STOCK OPTIONS

For

Yes

For

Management

7309

JP3358000002

SHIMANO INC.

3/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 5 DIRECTORS - K.KAKUTANI, C.Y.TENG, S.YUASA, S.WADA, K.ICHIJO

For

Yes

For

Management

PAYMENT OF DIRECTORS’ AND AUDITORS’ BONUSES

For

Yes

For

Management

REVISION OF DIRECTORS’ REMUNERATION

For

Yes

For

Management

7751

JP3242800005

CANON INC.

3/27/09

DIVIDEND OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 25 DIRECTORS - F.MITARAI, T.UCHIDA, T.TANAKA, N.TANAKA, J.ICHIKAWA, A.MOROE, K.WATANABE, Y.ADACHI, Y.MITSUHASHI, T.IWASHITA, M.OSAWA, S.MATSUMOTO, K.SHIMIZU, R.BANBA, T.HONMA, M.NAKAOKA, H.HONDA, T.KOMATSU, T.TAHARA, S.SEKINE, S.ONDA, K.FUKUMA, H.OZAWA, M.MAEDA, T.IKOMA

For

Yes

Against

Management

RETIREMENT ALLOWANCES TO THE RETIRING DIRECTORS

For

Yes

For

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

FREE DISTRIBUTION OF SHINKABU YOYAKU-KEN (RIGHT TO ACQUIRE NEW ISSUE) AS STOCK OPTIONS

For

Yes

For

Management

8060

JP3243600008

CANON MARKETING JAPAN INC.

3/26/09

DIVIDEND OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 16 DIRECTORS - H.MURASE, M.KAWASAKI, K.ASHIZAWA, K.ASADA, H.SHIBUYA, O.SASAKI, Y.SHIBASAKI, M.SAKATA, K.GOTO, T.YOSHIDA, M.SAWABE, M.KOYAMA, Y.USUI, K.KURIHARA, K.GO, S.INOUE

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - H.KAWASHIMO

For

Yes

Against

Management

RETIREMENT ALLOWANCES TO THE RETIRING DIRECTORS AND AUDITORS

For

Yes

Against

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

8804

JP3582600007

TOKYO TATEMONO CO., LTD.

3/27/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 18 DIRECTORS - K.MINAMI, M.HATANAKA, H.SAKUMA, A.SARUTA, K.KATO, S.SAITO, H.SHIBAYAMA, S.AYAKI, T.USUI, S.OKUBO, T.HATA, A.OKUBO, T.INUI, S.YOSHIDA, S.KOSHIMIZU, H.NOMURA, Y.YANAI, I.KONO

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - J.OKAWA

For

Yes

Against

Management

RETIREMENT ALLOWANCES TO THE RETIRING DIRECTORS

For

Yes

For

Management

9843

JP3756100008

NITORI CO., LTD.

5/8/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 9 DIRECTORS - A.NITORI, K.SUGIYAMA, T.SHIRAI, M.IKEDA, Y.KANEHIRA, N.KODAMA, F.SUDO, S.SHIBATA, M.SAKAMOTO

For

Yes

Against

Management

REVISION OF DIRECTORS’ AND CORPORATE AUDITORS’ REMUNERATION

For

Yes

Against

Management

3050

JP3548660004

DCM JAPAN HOLDINGS CO., LTD.

5/28/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

Against

Management

ELECTION OF 2 DIRECTORS - F.NAGANO, Y.IWAMA

For

Yes

Against

Management

ELECTION OF 1 SUBSTITUTE CORPORATE AUDITOR - K.KUBOTA

For

Yes

Against

Management

3382

JP3422950000

SEVEN & I HOLDINGS CO., LTD.

5/28/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 15 DIRECTORS - T.SUZUKI, N.MURATA, T.UJIIE, K.GOTO, T.KOBAYASHI, J.ITO, A.KAMEI, R.ISAKA, A.HANAWA, K.YAMASHITA, T.ANZAI, Z.OTAKA, N.SHIMIZU, S.T.DAVIS, I.NONAKA

For

Yes

Against

Management

DELEGATION OF THE AUTHORITY TO THE BOARD OF DIRECTORS TO DETERMINE THE TERMS AND CONDITIONS OF SHINKABU YOYAKU-KEN (RIGHT TO ACQUIRE NEW ISSUE) AS STOCK OPTIONS FOR STOCK-LINKED COMPENSATION

For

Yes

For

Management

8028

JP3802600001

FAMILYMART CO., LTD.

5/28/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 12 DIRECTORS - J.UEDA, S.UEDA, S.HARIMA, T.YOKOTA, S.INOUE, M.SEKI, Y.KOBE, Y.MIYAMOTO, T.KATO, M.TAKADA, M.KOSAKA, A.WADA

For

Yes

Against

Management

RETIREMENT ALLOWANCES TO THE RETIRING DIRECTORS

For

Yes

For

Management

1812

JP3210200006

KAJIMA CORP.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

REDUCTION OF CAPITAL SURPLUS RESERVES

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 5 DIRECTORS - S.UMEDA, N.ATSUMI, K.KAJIMA, T.TASHIRO, K.SOMEYA

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - T.KADOMA

For

Yes

For

Management

1911

JP3409800004

SUMITOMO FORESTRY CO., LTD.

6/23/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

1925

JP3505000004

DAIWA HOUSE IND. CO., LTD.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 18 DIRECTORS - T.HIGUCHI, K.MURAKAMI, T.OGAWA, N.ONO, T.ISHIBASHI, T.NISHIMURA, T.ISHIBASHI, H.AZUMA, T.UZUI, S.OTSUKA, E.TAKEDA, T.HAMA, C.AOYAGI, Y.NOTO, K.KAWAI, I.OGATA, S.NUMATA, K.TSUCHIDA

For

Yes

Against

Management

ELECTION OF 4 CORPORATE AUDITORS - K.IIDA, K.IWASAKI, R.TERADA, K.HIRATA

For

Yes

Against

Management

2002

JP3676800000

NISSHIN SEIFUN GROUP INC.

6/25/09

DIVIDEND OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 12 DIRECTORS - I.MURAKAMI, Y.MIYAUCHI, M.OTA, A.SASAKI, M.NANRI, T.MARUO, A.FUKADA, K.IKEDA, T.SHIRAGAMI, A.OKUMURA, H.OEDA, A.MIMURA

For

Yes

Against

Management

ELECTION OF 3 CORPORATE AUDITORS - T.ITO, M.WATANABE, K.FUSHIYA

For

Yes

For

Management

DETERMINATION OF THE AMOUNT, TERMS AND CONDITIONS OF STOCK OPTIONS FOR DIRECTORS OF THE COMPANY

For

Yes

Against

Management

ISSUANCE OF SHINKABU YOYAKU-KEN (RIGHT TO ACQUIRE NEW ISSUE) AS STOCK OPTIONS

For

Yes

For

Management

RENEWAL OF THE APPROVED RESOLUTION OF FREE DISTRIBUTION OF SHINKABU YOYAKU-KEN FOR IMPROVEMENT AND ASSURANCE OF THE CORPORATE VALUES AND SHAREHOLDERS COMMON PROFIT

For

Yes

For

Management

2802

JP3119600009

AJINOMOTO CO., INC.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 15 DIRECTORS - N.YAMAGUCHI, M.ITO, O.TOSAKA, N.TERASHI, Y.KUNIMOTO, K.YOKOYAMA, T.TOYODA, K.MIWA, T.YOSHIZUMI, T.NAGAMACHI, K.NAGAI, T.IWAMOTO, S.SUZUKI, S.HASHIMOTO, U.NIWA

For

Yes

Against

Management

3405

JP3269600007

KURARAY CO., LTD.

6/19/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 9 DIRECTORS - Y.WAKUI, F.ITO, Y.NINAGAWA, S.KATAOKA, H.YOSHINO, T.SAKAI, K.SAWADA, K.AOMOTO, T.SHIOYA

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - M.FUJIMOTO

For

Yes

For

Management

APPROVAL OF THE COUNTERMEASURES AGAINST A LARGE SCALE OF PURCHASE OF THE COMPANY STOCKS (ANTI-TAKEOVER MEASURES)

For

Yes

For

Management

3407

JP3111200006

ASAHI KASEI CORP.

6/26/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 10 DIRECTORS - N.YAMAGUCHI, S.HIRUTA, I.ITO, T.FUJIWARA, K.TSUJITA, Y.MIZUNO, Y.HAYASHI, Y.SETO, K.KODAMA, M.IKEDA

For

Yes

For

Management

ELECTION OF 2 CORPORATE AUDITORS - K.NAKAMAE, Y.AOKI

For

Yes

For

Management

ELECTION OF 1 SUBSTITUTE CORPORATE AUDITOR - H.HONMA

For

Yes

For

Management

RETIREMENT ALLOWANCES TO THE RETIRING DIRECTORS

For

Yes

For

Management

3861

JP3174410005

OJI PAPER CO., LTD.

6/26/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

Against

Management

ELECTION OF 12 DIRECTORS - S.SUZUKI, K.SHINODA, Y.SEKIGUCHI, S.KONDO, T.ISHIDA, T.HASHIMOTO, H.HASHIMOTO, T.ANDO, S.YAJIMA, K.SHINDO, Y.TAKEUCHI, O.AKIYAMA

For

Yes

Against

Management

ELECTION OF 2 CORPORATE AUDITORS - K.KANDA, H.TAI

For

Yes

For

Management

RETIREMENT ALLOWANCES TO THE RETIRING AUDITORS

For

Yes

For

Management

CONTINUATION OF THE COMPANY POLICIES ON A LARGE SCALE PURCHASE OF THE COMPANY STOCKS (ANTI-TAKEOVER MEASURES)

For

Yes

For

Management

SHAREHOLDER RESOLUTION - DISCHARGE OF 1 DIRECTOR

For

Yes

Against

Management

4063

JP3371200001

SHIN-ETSU CHEMICAL CO., LTD.

6/26/09

DIVIDEND OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

Against

Management

ELECTION OF 14 DIRECTORS - Y.SAITO, Y.ONO, K.TAKASUGI, F.P.POPOFF, S.KONO, T.MIYAZAKI, T.ISHIHARA, M.MIYAJIMA, T.KASAHARA, H.ONEZAWA, K.NAKAMURA, T.FUKUI, Y.MATSUI, H.OKAMOTO

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - T.FUKUI

For

Yes

For

Management

ISSUANCE OF SHINKABU YOYAKU-KEN (RIGHT TO ACQUIRE NEW ISSUE) TO EMPLOYEES OF THE COMPANY AS STOCK OPTIONS

For

Yes

For

Management

CONTINUATION OF THE COMPANY POLICIES ON A LARGE SCALE PURCHASE OF THE COMPANY STOCK (ANTI-TAKEOVER MEASURES)

For

Yes

Against

Management

4202

JP3485800001

DAICEL CHEMICAL IND., LTD.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

Against

Management

ELECTION OF 7 DIRECTORS - D.OGAWA, T.YANAMI, I.KATAGIRI, K.SHIMA, S.KOMORI, A.OKADA, Y.MIURA

For

Yes

Against

Management

4208

JP3158800007

UBE INDUSTRIES, LTD.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 8 DIRECTORS - H.TAMURA, Y.CHIBA, K.OKADA, A.FURUKAWA, M.TAKESHITA, M.UMEZU, Y.MATSUMOTO, M.MOTODA

For

Yes

For

Management

ELECTION OF 3 CORPORATE AUDITORS - K.YAMANAKA, K.FUJIOKA, M.FUJITA

For

Yes

For

Management

ELECTION OF 1 SUBSTITUTE OUTSIDE CORPORATE AUDITOR - D.KORIYA

For

Yes

For

Management

PAYMENT OF DIRECTORS’ AND AUDITORS’ BONUSES

For

Yes

For

Management

4307

JP3762800005

NOMURA RESEARCH INSTITUTE, LTD.

6/23/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 11 DIRECTORS - A.FUJINUMA, T.NARUSAWA, H.IMAI, T.SHIMAMOTO, M.MUROI, K.ISHIBASHI, M.SAWADA, S.HIROTA, T.KAWAMO, N.MINAMI, T.SAWADA

For

Yes

For

Management

ELECTION OF 1 CORPORATE AUDITOR - H.IZUMITANI

For

Yes

For

Management

4324

JP3551520004

DENTSU INC.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 12 DIRECTORS - T.TAKASHIMA, R.MORI, K.TAINAKA, T.ISHII, Y.MATSUSHITA, M.TACHIBANA, T.JOJU, K.SUGIYAMA, S.NAKAMOTO, M.NIIYAMA, S.ISHIKAWA, M.NAKATA

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - K.MATSUDA

For

Yes

For

Management

REVISION OF DIRECTORS’ AND AUDITORS’ REMUNERATION

For

Yes

Against

Management

4502

JP3463000004

TAKEDA PHARMACEUTICAL CO., LTD.

6/25/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 6 DIRECTORS - Y.HASEGAWA, M.YAMAOKA, Y.YAMANAKA, S.OKAWA, T.YOSHIDA, A.MACKENZIE

For

Yes

For

Management

ELECTION OF 2 CORPORATE AUDITORS - T.ISHIKAWA, T.SAKURADA

For

Yes

For

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

4503

JP3942400007

ASTELLAS PHARMA INC.

6/23/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 5 DIRECTORS - T.TAKENAKA, M.NOGIMORI, T.SARUTA, S.YASUTAKE, Y.TAKAI

For

Yes

For

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

PAYMENT OF THE COMPENSATION FOR STOCK OPTIONS FOR STOCK-LINKED COMPENSATION TO DIRECTORS OF THE COMPANY

For

Yes

For

Management

4527

JP3982400008

ROHTO PHARMACEUTICAL CO., LTD.

6/25/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 10 DIRECTORS - K.YAMADA, A.YOSHIDA, T.YOSHINO, T.NISHIHARA, M.KIMURA, T.OKUBO, Y.KANBARA, N.FUJII, S.MORIOKA, Y.YAMADA

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - M.UNEME

For

Yes

Against

Management

4528

JP3197600004

ONO PHARMACEUTICAL CO., LTD.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 11 DIRECTORS - G.SAGARA, K.MORIMOTO, K.KAWABATA, H.KURITA, F.TAKAHASHI, I.ONO, H.ICHIKAWA, S.FUJIYOSHI, D.FUKUSHIMA, S.MATSUOKA, N.ENDO

For

Yes

For

Management

PAYMENT OF DIRECTORS’ AND AUDITORS’ BONUSES

For

Yes

For

Management

4569

JP3247090008

KYORIN CO., LTD.

6/24/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 11 DIRECTORS - M.OGIHARA, H.OGIHARA, I.KOJO, T.TAKUSAGAWA, M.YAMASHITA, K.HIRAI, M.HOGAWA, T.MATSUDA, T.GOHO, T.MATSUMOTO, M.MIYASHITA

For

Yes

Against

Management

4901

JP3814000000

FUJI FILM HOLDINGS CORP.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 8 DIRECTORS - S.KOMORI, T.TAKAHASHI, T.SASAKI, T.YAMAMOTO, N.OKAMURA, T.KITAYAMA, Y.TODA, N.INOUE

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - T.KAWAMURA

For

Yes

Against

Management

RETIREMENT ALLOWANCES TO THE RETIRING DIRECTORS

For

Yes

For

Management

RETIREMENT ALLOWANCES TO THE RETIRING AUDITORS

For

Yes

For

Management

PAYMENT OF DIRECTORS’ COMPENSATION AS STOCK OPTIONS

For

Yes

Against

Management

5214

JP3733400000

NIPPON ELECTRIC GLASS CO., LTD.

6/26/09

DIVIDEND OF SURPLUS

For

Yes

Against

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 10 DIRECTORS - T.MORI, Y.IZUTSU, H.KATO, K.INADA, M.ARIOKA, M.ATSUJI, S.YAMAMOTO, K.INAMASU, S.ITO, M.YOKOTA

For

Yes

Against

Management

ELECTION OF 2 SUBSTITUTE CORPORATE AUDITORS - K.IKENAGA, Y.UOZUMI

For

Yes

For

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

CONTINUOUS INTRODUCTION OF THE COMPANY POLICIES ON A LARGE SCALE PURCHASE OF THE COMPANY STOCKS (ANTI-TAKEOVER MEASURES)

For

Yes

Against

Management

5405

JP3402200004

SUMITOMO METAL IND., LTD.

6/19/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 10 DIRECTORS - H.SHIMOZUMA, H.TOMONO, F.HONBE, Y.TOZAKI, Y.IMAI, S.KOZUKA, Y.ISHIZUKA, M.OKADA, M.TAKII, S.MIKI

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - T.MUTO

For

Yes

For

Management

CONTINUATION OF THE COMPANY POLICIES ON A LARGE SCALE PURCHASE OF THE COMPANY STOCK

For

Yes

Against

Management

5440

JP3247400009

KYOEI STEEL LTD.

6/26/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

Against

Management

ELECTION OF 14 DIRECTORS - A.TAKASHIMA, H.TAKASHIMA, R.YOSHIOKA, H.NAGATA, N.FUKADA, T.OGATA, K.KAWASAKI, T.ZAKO, N.GOROKU, H.KIMURA, M.DOI, Y.MATSUDA, H.AOKI, K.MORITA

For

Yes

Against

Management

PROVISIONAL PAYMENT OF THE RETIREMENT ALLOWANCES TO DIRECTORS AND AUDITORS ASSOCIATED WITH ABOLITION OF RETIREMENT ALLOWANCE SCHEME

For

Yes

Against

Management

REVISION OF DIRECTORS’ REMUNERATION

For

Yes

Against

Management

5802

JP3407400005

SUMITOMO ELECTRIC IND., LTD.

6/25/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 1 DIRECTOR - M.NISHIDA

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - I.KOBAYASHI

For

Yes

For

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

5938

JP3626800001

JS GROUP CORP.

6/18/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 9 DIRECTORS - Y.USHIODA, M.SUGINO, Y.NAGASAKA, K.INA, Y.KIKUCHI, Y.KANAMORI, M.TAKASAKI, T.SHIMURA, T.TUSTSUI

For

Yes

Against

Management

ELECTION OF 1 SUBSTITUTE CORPORATE AUDITOR - K.TAKAGI

For

Yes

For

Management

6301

JP3304200003

KOMATSU LTD.

6/24/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 10 DIRECTORS - M.SAKANE, K.NOJI, Y.KOMAMURA, Y.SUZUKI, K.KINOSHITA, M.IKEDA, K.HOTTA, N.KANO, M.FUCHIGAMI, T.OHASHI

For

Yes

For

Management

ELECTION OF 2 CORPORATE AUDITORS - K.TORII, K.MATSUO

For

Yes

For

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

DELEGATION OF THE AUTHORITY TO THE BOARD OF DIRECTORS TO DETERMINE THE TERMS AND CONDITIONS OF SHINKABU YOYAKU-KEN (RIGHT TO ACQUIRE NEW ISSUE) ISSUED TO EMPLOYEES OF THE COMPANY AND DIRECTORS OF THE MAIN SUBSIDIARIES OF THE COMPANY

For

Yes

For

Management

6503

JP3902400005

MITSUBISHI ELECTRIC CORP.

6/26/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 12 DIRECTORS - T.NOMAKUCHI, S.SHIMOMURA, M.SAITO, K.SAWAMOTO, M.MUNEYUKI, H.YOSHIMATSU, N.HASHIMOTO, H.MURAYAMA, S.YANAI, O.SHIGETA, M.SASAKI, S.MIKI

For

Yes

For

Management

6506

JP3932000007

YASKAWA ELECTRIC CORP.

6/18/09

DIVIDEND OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 15 DIRECTORS - S.NAKAYAMA, K.TOSHIMA, K.TAKEI, M.KITO, S.IWATA, T.SAWA, N.USAMI, H.GOTO, J.TSUDA, K.NAKAMURA, H.OGASAWARA, O.MOTOMATSU, S.MURAKAMI, Y.MINAMI, Y.FUKAHORI

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - M.ICHIKAWA

For

Yes

For

Management

ELECTION OF 1 SUBSTITUTE CORPORATE AUDITOR - Y.TANAKA

For

Yes

For

Management

6586

JP3862400003

MAKITA CORP.

6/25/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 11 DIRECTORS - M.GOTO, Y.KANZAKI, T.TORII, S.HORI, T.KATO, T.ASANUMA, H.NIWA, S.TOMITA, T.KANEKO, Y.AOKI, M.YOKOYAMA

For

Yes

For

Management

PAYMENT OF DIRECTORS’ AND AUDITORS’ BONUSES

For

Yes

For

Management

6702

JP3818000006

FUJITSU LTD.

6/22/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 10 DIRECTORS - M.MAZUKA, K.NOZOE, C.ITO, K.HIRONISHI, T.TOMITA, H.OURA, I.NONAKA, H.ITO, N.AKIKUSA, M.KITAGAWA

For

Yes

For

Management

ELECTION OF 2 CORPORATE AUDITORS - M.UMEMURA, H.MITANI

For

Yes

For

Management

6752

JP3866800000

PANASONIC CORP.

6/25/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 19 DIRECTORS - K.NAKAMURA, M.MATSUSHITA, F.OTSUBO, S.KOIKE, K.KITADAI, T.SAKAMOTO, T.MORI, Y.KATSURA, H.OTSUKI, I.KASHIMA, I.UNO, M.OKU, M.UENOYAMA, M.HARADA, M.MATSUSHITA, K.MORITA, K.TAKAMI, J.NOMURA, M.MAK

For

Yes

For

Management

6758

JP3435000009

SONY CORP.

6/19/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 15 DIRECTORS - H.STRINGER, R.CHUBACHI, N.ONEDA, Y.KOBAYASHI, S.F.TACHIBANA, Y.MIYAUCHI, Y.YAMAUCHI, P.BONFIELD, F.SUMITA, F.CHO, R.YASUDA, Y.UCHINAGA, M.YAHAGI, T.HSIEH, R.A.HERNANDEZ

For

Yes

For

Management

ISSUANCE OF SHINKABU YOYAKU-KEN (RIGHT TO ACQUIRE NEW ISSUE) FOR THE PURPOSE OF GRANTING STOCK OPTIONS

For

Yes

Against

Management

6845

JP3937200008

YAMATAKE CORP.

6/25/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 1 DIRECTOR - M.INOZUKA

For

Yes

For

Management

6925

JP3156400008

USHIO INC.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 9 DIRECTORS - J.USHIO, S.SUGATA, M.GOTO, S.OSHIMA, T.TAKI, S.USHIO, R.TADA, H.BANNO, A.TANAKA

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - S.NAKAYAMA

For

Yes

For

Management

6952

JP3209000003

CASIO COMPUTER CO., LTD.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 12 DIRECTORS - T.KASHIO, K.KASHIO, Y.KASHIO, F.MURAKAMI, A.TAKAGI, A.KASHIO, S.TAKASHIMA, T.TAKASU, K.TAKEICHI, T.YAMAMOTO, H.NAKAMURA, Y.MASUDA

For

Yes

Against

Management

RETIREMENT ALLOWANCES TO THE RETIRING DIRECTORS

For

Yes

For

Management

REVISION OF DIRECTORS’ REMUNERATION

For

Yes

Against

Management

6954

JP3802400006

FANUC LTD.

6/26/09

DIVIDEND OF SURPLUS

For

Yes

Against

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 14 DIRECTORS - Y.INABA, H.UCHIDA, K.KOHARI, H.KOJIMA, Y.GONDA, K.YAMAGUCHI, R.NIHEI, M.KURAKAKE, H.ARAKI, S.TANZAWA, H.MIYAJIMA, H.NODA, S.MATSUBARA, R.SCHNEIDER

For

Yes

For

Management

ELECTION OF 1 CORPORATE AUDITOR - S.KIMURA

For

Yes

Against

Management

6981

JP3914400001

MURATA MFG. CO., LTD.

6/26/09

DIVIDEND OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 5 DIRECTORS - T.MURATA, A.INOUE, H.IEKI, K.MAKINO, Y.TANAHASHI

For

Yes

For

Management

ELECTION OF 1 CORPORATE AUDITOR - M.NAKAYAMA

For

Yes

For

Management

7011

JP3900000005

MITSUBISHI HEAVY IND., LTD.

6/25/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 19 DIRECTORS - K.TSUKUDA, H.OMIYA, I.FUKUE, H.KAN, S.AOKI, S.IIJIMA, K.YASUDA, A.SAWA, T.KAWAI, S.MIYANAGA, Y.TSUKUDA, K.WATABE, M.SASAKI, A.WADA, Y.SAKAMOTO, Y.KAWAMOTO, M.SHINTANI, T.ABE, A.HISHIKAWA

For

Yes

Against

Management

ELECTION OF 2 CORPORATE AUDITORS - K.NOMURA, N.KUROYANAGI

For

Yes

Against

Management

7012

JP3224200000

KAWASAKI HEAVY IND., LTD.

6/25/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 10 DIRECTORS - T.OHASHI, C.MOTOYAMA, M.SEGAWA, S.MIHARA, S.HASEGAWA, M.TAKAO, N.KANBAYASHI, K.MATSUOKA, Y.ASANO, H.TAKADA

For

Yes

Against

Management

ELECTION OF 3 CORPORATE AUDITORS - K.DOI, T.OKUSHI, M.OKA

For

Yes

For

Management

7203

JP3633400001

TOYOTA MOTOR CORP.

6/23/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 29 DIRECTORS - F.CHO, K.OKAMOTO, K.WATANABE, T.UCHIYAMADA, A.TOYODA, Y.FUNO, A.NIIMI, T.TACHIBANA, S.SASAKI, A.OKABE, I.ICHIMARUYO, S.KOBUKI, A.SASAKI, T.ARASHIMA, M.FURUHASHI, S.OZAWA, I.NIHASHI, Y.ICHIHASHI, T.YAMASHINA, T.IJICHI, T.AGATA, T.FURUTANI, T.IWASE, Y.ISHII, T.SHIRANE, Y.INABA, M.MAEKAWA, N.HAYASHI, Y.IHARA

For

Yes

Against

Management

ISSUANCE OF SHINKABU YOYAKU-KEN (RIGHT TO ACQUIRE NEW ISSUE) AS STOCK OPTIONS

For

Yes

For

Management

7262

JP3496600002

DAIHATSU MOTOR CO., LTD.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

Against

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 12 DIRECTORS - K.SHIRAMIZU, T.MINOURA, K.KAMIO, K.INA, K.OKUMURA, M.MITSUI, M.TAKAHASHI, K.BABA, S.YAMAZAKI, N.KITAGAWA, Y.NAKAWAKI, T.NOMOTO

For

Yes

Against

Management

ELECTION OF 1 SUBSTITUTE CORPORATE AUDITOR - K.YAMAMOTO

For

Yes

For

Management

PAYMENT OF DIRECTORS’ AND AUDITORS’ BONUSES

For

Yes

For

Management

RETIREMENT ALLOWANCES TO THE RETIRING DIRECTORS AND PROVISIONAL PAYMENT OF THE RETIREMENT ALLOWANCES ASSOCIATED WITH ABOLITION OF RETIREMENT ALLOWANCE SCHEME TO THE DIRECTORS AND AUDITORS

For

Yes

Against

Management

7267

JP3854600008

HONDA MOTOR CO., LTD.

6/23/09

DIVIDEND OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 21 DIRECTORS - S.AOKI, T.FUKUI, K.KONDO, A.HYOGO, M.YOSHIMI, T.ITO, S.TAKAGI, A.HAMADA, T.IWAMURA, T.OYAMA, F.IKE, M.YAMASHITA, K.HOGEN, S.MINEKAWA, H.SODA, T.YAMADA, Y.HOJO, N.KUROYANAGI, H.KOBAYASHI, T.TANA

For

Yes

For

Management

ELECTION OF 1 CORPORATE AUDITOR - H.OKADA

For

Yes

For

Management

PAYMENT OF DIRECTORS’ AND AUDITORS’ BONUSES

For

Yes

For

Management

7269

JP3397200001

SUZUKI MOTOR CORP.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 11 DIRECTORS - O.SUZUKI, T.NAKAYAMA, T.HIROSAWA, M.TAMURA, S.NAKANISHI, E.MOCHIZUKI, T.SUZUKI, T.SUGIMOTO, M.ATSUMI, N.AIZAWA, O.HONDA

For

Yes

For

Management

ELECTION OF 1 CORPORATE AUDITOR - Y.SUZUKI

For

Yes

For

Management

PAYMENT OF DIRECTORS’ AND AUDITORS’ BONUSES

For

Yes

For

Management

7701

JP3357200009

SHIMADZU CORP.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 11 DIRECTORS - S.HATTORI, A.NAKAMOTO, T.KATO, I.KOWAKI, Y.NAKAMURA, S.SUZUKI, O.ANDO, Y.YOSHIDA, H.FUJII, K.NISHIHARA, Y.TOKUMASU

For

Yes

For

Management

ELECTION OF 1 CORPORATE AUDITOR - S.NISHIMURA

For

Yes

For

Management

7741

JP3837800006

HOYA CORP.

6/16/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 8 DIRECTORS - T.SHIINA, Y.MOGI, E.KONO, Y.KODAMA, I.KOEDA, H.SUZUKI, H.HAMADA, K.EMA

For

Yes

For

Management

ISSUANCE OF SHINKABU YOYAKU-KEN (RIGHT TO ACQUIRE NEW ISSUE) AS STOCK OPTIONS

For

Yes

For

Management

7752

JP3973400009

RICOH CO., LTD.

6/25/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 1 CORPORATE AUDITOR - Y.INOUE

For

Yes

For

Management

ELECTION OF 1 SUBSTITUTE CORPORATE AUDITOR - K.HORIE

For

Yes

For

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

7832

JP3778630008

NAMCO BANDAI HOLDINGS INC.

6/22/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 9 DIRECTORS - T.TAKASU, S.ISHIKAWA, J.HIGASHI, S.OTSU, Y.FUKUDA, K.UENO, M.YONE, K.ICHIJO, M.TASAKI

For

Yes

For

Management

8031

JP3893600001

MITSUI & CO., LTD.

6/23/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 12 DIRECTORS - S.UTSUDA, M.IIJIMA, K.ABE, Y.IZAWA, J.MATSUMOTO, N.IIO, S.TANAKA, T.OMAE, A.OKADA, N.MATSUBARA, I.NONAKA, H.HIRABAYASHI

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - H.WATANABE

For

Yes

Against

Management

8036

JP3678800008

HITACHI HIGH-TECHNOLOGIES CORP.

6/24/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 6 DIRECTORS - T.SAKIYAMA, H.OBAYASHI, W.NAKANO, H.KANAUCHI, H.UCHIDA, K.MUNEOKA

For

Yes

Against

Management

8053

JP3404600003

SUMITOMO CORP.

6/19/09

DIVIDEND OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 12 DIRECTORS - M.OKA, S.KATO, K.OMORI, S.ARAI, T.MORIYAMA, T.KANO, Y.OSAWA, N.KITAGAWA, T.HAMADA, K.NAKAMURA, T.KAWAHARA, Y.ABE

For

Yes

For

Management

ELECTION OF 3 CORPORATE AUDITORS - K.OKUBO, A.HARADA, M.NITTA

For

Yes

For

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

ISSUANCE OF SHINKABU YOYAKU-KEN (RIGHT TO ACQUIRE NEW ISSUE) TO DIRECTORS OF THE COMPANY AS STOCK OPTIONS

For

Yes

For

Management

ISSUANCE OF SHINKABU YOYAKU-KEN (RIGHT TO ACQUIRE NEW ISSUE) TO DIRECTORS OF THE COMPANY AS STOCK OPTIONS FOR STOCK-LINKED COMPENSATION

For

Yes

For

Management

8058

JP3898400001

MITSUBISHI CORP.

6/24/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 15 DIRECTORS - M.SASAKI, Y.KOJIMA, Y.UENO, T.INOUE, H.YOSHIMURA, T.IYOBE, K.FUJIMURA, T.TSUTSUMI, T.NOMAKUCHI, K.ITO, K.TSUKUDA, R.UEDA, H.NAKAHARA, O.KOMIYA, R.KATO

For

Yes

For

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

ISSUANCE OF SHINKABU YOYAKU-KEN (RIGHT TO ACQUIRE NEW ISSUE) AS STOCK OPTIONS

For

Yes

For

Management

DETERMINATION OF THE AMOUNT OF FUNDED RETIRING COMPENSATION FOR DIRECTORS

For

Yes

For

Management

8281

JP3428800001

XEBIO CO., LTD.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

Against

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

Against

Management

ELECTION OF 5 DIRECTORS - T.MOROHASHI, H.OTAKI, T.KITAZAWA, M.YASHIRO, G.ISHIWATA

For

Yes

For

Management

ELECTION OF 1 CORPORATE AUDITOR - Y.SASAKI

For

Yes

For

Management

RETIREMENT ALLOWANCES TO THE RETIRING AUDITORS

For

Yes

Against

Management

8306

JP3902900004

MITSUBISHI UFJ FINANCIAL GROUP

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

Against

Management

ELECTION OF 17 DIRECTORS - R.TAMAKOSHI, H.UEHARA, N.KUROYANAGI, K.OMORI, S.SANO, H.SAITO, N.KAMEI, S.YASUDA, K.NAGAYASU, F.AKIKUSA, K.TAKEUCHI, K.OKAUCHI, K.WACHI, T.OYAMADA, A.HARADA, T.ARAKI, T.OTOSHI

For

Yes

Against

Management

ELECTION OF 4 CORPORATE AUDITORS - T.MAEDA, K.TAKASUGA, K.OKAMOTO, Y.IKEDA

For

Yes

Against

Management

8309

JP3892100003

CHUO MITSUI TRUST HOLDINGS, INC.

6/26/09

DIVIDEND OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 6 DIRECTORS - K.FURUSAWA, K.TANABE, T.ITO, J.OKUNO, K.SUMIDA, T.KAWAI

For

Yes

For

Management

ELECTION OF 5 CORPORATE AUDITORS - T.AMANO, Y.WAKASA, Y.YONEZAWA, Y.TAKANO, H.NAKANISHI

For

Yes

For

Management

RETIREMENT ALLOWANCES TO THE RETIRING AUDITORS

For

Yes

Against

Management

8331

JP3511800009

THE CHIBA BANK, LTD.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 6 DIRECTORS - T.TAKEYAMA, H.SAKUMA, K.WATANABE, T.ABE, T.NOZAWA, K.ICHIHARA

For

Yes

For

Management

ELECTION OF 2 CORPORATE AUDITORS - Y.SARUHASHI, J.SEO

For

Yes

For

Management

RETIREMENT ALLOWANCES TO THE RETIRING DIRECTORS AND AUDITORS

For

Yes

Against

Management

PAYMENT OF DIRECTORS’ AND AUDITORS’ BONUSES

For

Yes

For

Management

8332

JP3955400001

THE BANK OF YOKOHAMA, LTD.

6/23/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 10 DIRECTORS - T.OGAWA, H.HAYAKAWA, C.OKUBO, M.ITO, R.KANEKO, T.AOI, S.YONEDA, K.KIKUCHI, S.HANAWA, H.SAKAMOTO

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - T.HARA

For

Yes

For

Management

8403

JP3405000005

SUMITOMO TRUST & BANKING CO., LTD.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

Against

Management

ELECTION OF 12 DIRECTORS - A.TAKAHASHI, T.HATABE, H.TSUNEKAGE, A.OTSUKA, K.MUKOHARA, T.SUGITA, T.ANDO, S.KUSAKAWA, R.HATTORI, S.TSUTSUI, T.OKUBO, T.SAYA

For

Yes

For

Management

ELECTION OF 2 CORPORATE AUDITORS - T.TSUBOI, T.HOSHINO

For

Yes

For

Management

8411

JP3885780001

MIZUHO FINANCIAL GROUP, INC.

6/25/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 8 DIRECTORS - T.MAEDA, T.KOSAKI, H.SAITO, S.NISHIBORI, Y.SATO, A.NOMIYAMA, M.OHASHI, K.ANRAKU

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - T.MORITA

For

Yes

For

Management

8591

JP3200450009

ORIX CORP.

6/23/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 11 DIRECTORS - Y.MIYAUCHI, Y.YANASE, H.NISHINA, H.URATA, K.KOJIMA, Y.YAMAYA, Y.YOKOYAMA, P.SHEARD, H.TAKEUCHI, T.SASAKI, T.OZAKI

For

Yes

For

Management

8604

JP3762600009

NOMURA HOLDINGS, INC.

6/25/09

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 12 DIRECTORS - J.UJIIE, K.WATANABE, T.SHIBATA, M.ITATANI, Y.KAWABATA, M.SHIBATA, H.KUBORI, H.TSUJI, F.NOMURA, M.SAKANE, T.FUJINUMA, H.SAWABE

For

Yes

For

Management

ISSUANCE OF SHINKABU YOYAKU-KEN (RIGHT TO ACQUIRE NEW ISSUE) TO DIRECTORS AND EMPLOYEES OF THE SUBSIDIARIES AS STOCK OPTIONS

For

Yes

For

Management

8725

JP3890310000

MITSUI SUMITOMO INSURANCE GROUP INC.

6/25/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 13 DIRECTORS - Y.SHIN, T.EGASHIRA, H.ASANO, I.ENDO, Y.KARASAWA, S.FUJIMOTO, K.IKEDA, H.ICHIHARA, S.HORIMOTO, E.KONO, K.KOROYASU, I.TAKA, T.SEKI

For

Yes

Against

Management

ELECTION OF 1 SUBSTITUTE CORPORATE AUDITOR - K.NOMURA

For

Yes

For

Management

DETERMINATION OF THE AMOUNT OF DIRECTORS’ AND CORPORATE AUDITORS’ REMUNERATION

For

Yes

Against

Management

8761

JP3486600004

AIOI INSURANCE CO., LTD.

6/25/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 12 DIRECTORS - H.OZAKI, T.KODAMA, M.ADACHI, H.SUZUKI, H.NAGASUE, M.NAKAMURA, T.UMEMURA, R.OHNO, T.SHIDA, Y.ISHII, S.UENO, K.WATANABE

For

Yes

Against

Management

ELECTION OF 2 CORPORATE AUDITORS - M.OZI, Y.ICHIMARU

For

Yes

Against

Management

8801

JP3893200000

MITSUI FUDOSAN CO., LTD.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

Against

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 11 DIRECTORS - H.IWASA, K.OMURO, T.SODA, M.MATSUMOTO, Y.KAGEYAMA, Y.IINUMA, S.KURAMOTO, M.KOMODA, T.AOKI, Y.HAYAKAWA, M.URANO

For

Yes

Against

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

8830

JP3409000001

SUMITOMO REALTY & DEVELOPMENT CO., LTD.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 9 DIRECTORS - J.TAKASHIMA, T.TSURUTA, K.ONODERA, Y.NAKAMURA, K.NISHIMA, M.KOBAYASHI, S.OZAWA, N.TAKEMURA, M.OHASHI

For

Yes

Against

Management

ELECTION OF 3 CORPORATE AUDITORS - R.NOMURA, T.KITAMURA, H.TOMOYASU

For

Yes

Against

Management

9020

JP3783600004

EAST JAPAN RAILWAY CO.

6/23/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 3 DIRECTORS - S.KAMATA, K.SHIMIZU, T.HARAGUCHI

For

Yes

For

Management

ELECTION OF 2 CORPORATE AUDITORS - T.YAMAGUCHI, M.NITTA

For

Yes

For

Management

PAYMENT OF DIRECTORS’ AND AUDITORS’ BONUSES

For

Yes

For

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (1)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - ESTABLISHING THE COMPLIANCE OVERSIGHT SPECIAL COMMITTEE

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (2)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (3)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (4)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - DISCHARGE OF DIRECTORS

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - ELECTION OF DIRECTORS

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - REDUCTION OF DIRECTORS AND AUDITORS’ BONUSES

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - APPROPRIATION OF SURPLUS (1)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - APPROPRIATION OF SURPLUS (2)

For

Yes

Against

Management

9062

JP3729400006

NIPPON EXPRESS CO., LTD.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 14 DIRECTORS - M.OKABE, M.KAWAI, M.IZUMIKAWA, K.WATANABE, Y.ITO, J.NAKAMURA, K.HAGIO, M.HOSOKOSHI, K.YOKOYAMA, Y.TSURI, M.MIIDA, S.UEMATSU, S.MORIYA, A.OHINATA

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - M.YAMASHITA

For

Yes

Against

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

9101

JP3753000003

NIPPON YUSEN K.K.

6/23/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 16 DIRECTORS - K.MIYAHARA, Y.YAMAWAKI, Y.KUDO, H.KURAMOTO, S.KOBAYASHI, M.KATO, H.HONO, T.NAITO, M.MOROOKA, H.HATTORI, Y.OKAMOTO, Y.OKINA, T.KUSAKARI, N.TAZAWA, H.HIRAMATSU, K.MIZUSHIMA

For

Yes

For

Management

ELECTION OF 1 CORPORATE AUDITOR - N.TAKAHATA

For

Yes

For

Management

PAYMENT OF DIRECTORS’ BONUSES

For

Yes

For

Management

9432

JP3735400008

NIPPON TELEGRAPH & TELEPHONE CO., LTD.

6/24/09

DIVIDEND OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 2 DIRECTORS - H.SHINOHARA, T.SHOJI

For

Yes

For

Management

9433

JP3496400007

KDDI CORP.

6/18/09

APPROPRIATION OF SURPLUS

For

Yes

Against

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 10 DIRECTORS - S.AMANO, T.ONODERA, S.NAGAO, H.MOROZUMI, T.TANAKA, M.TAKAHASHI, Y.SHIMATANI, M.KAWAMURA, S.SASAKI, T.KATSUMATA

For

Yes

Against

Management

ELECTION OF 1 CORPORATE AUDITOR - Y.NISHIKAWA

For

Yes

Against

Management

REVISION OF CORPORATE AUDITORS’ REMUNERATION

For

Yes

Against

Management

PAYMENT OF DIRECTORS’ AND AUDITORS’ BONUSES

For

Yes

For

Management

9437

JP3165650007

NTT DOCOMO, INC.

6/19/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 1 CORPORATE AUDITOR - Y.MAKITANI

For

Yes

Against

Management

9501

JP3585800000

THE TOKYO ELECTRIC POWER CO., LTD.

6/25/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 20 DIRECTORS - Z.AIZAWA, Y.AOYAMA, T.ARAI, H.INO, T.KATSUMATA, S.KIMURA, M.SHIMIZU, S.SHIRAKAWA, M.TAKEI, I.TAKEKURO, N.TSUZUMI, Y.NAITO, T.NISHIZAWA, T.FUJIMOTO, M.FUJIWARA, S.MUTO, T.MORITA, Y.MORIMOTO, H.YAMAGUCHI, M.YAMAZAKI

For

Yes

For

Management

ELECTION OF 1 CORPORATE AUDITOR - H.KOMIYAMA

For

Yes

For

Management

SHAREHOLDER RESOLUTION - DIVIDEND OF SURPLUS

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (1)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (2)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (3)

For

Yes

Against

Management

9503

JP3228600007

THE KANSAI ELECTRIC POWER CO., LTD.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 19 DIRECTORS - S.MORI, N.SAITO, S.KANNO, T.MUKAI, M.YAGI, Y.HAMADA, M.FUJII, T.NAKAMORI, M.IKARI, M.IKOMA, N.HASHIMOTO, Y.MUKAE, H.TOYOMATSU, J.KAGAWA, Y.DOI, Y.HIROE, N.INOUE, A.TSUJII, R.TAMAKOSHI

For

Yes

For

Management

SHAREHOLDER RESOLUTION - APPROPRIATION OF SURPLUS

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - DISCHARGE OF DIRECTOR

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (1)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (2)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (3)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (4)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (5)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (6)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (1)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (2)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (3)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (4)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (5)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (6)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (7)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (8)

For

Yes

Against

Management

9506

JP3605400005

TOHOKU ELECTRIC POWER CO., INC.

6/26/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 17 DIRECTORS - H.TAKAHASHI, H.KODAMA, M.KAIWA, N.ABE, T.UMEDA, T.KISHI, E.HAYASAKA, F.UBE, K.MORISHITA, H.KATO, T.SUZUKI, T.SATAKE, S.INOUE, Y.ONO, R.OYAMA, T.INAGAKI, M.TANAKA

For

Yes

Against

Management

ELECTION OF 1 SUBSTITUTE CORPORATE AUDITOR - T.SUZUKI

For

Yes

For

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (1)

For

Yes

Against

Management

SHAREHOLDER RESOLUTION - AMENDMENT OF THE ARTICLES OF INCORPORATION (2)

For

Yes

Against

Management

9735

JP3421800008

SECOM CO., LTD.

6/25/09

APPROPRIATION OF SURPLUS

For

Yes

For

Management

AMENDMENT OF THE ARTICLES OF INCORPORATION

For

Yes

For

Management

ELECTION OF 11 DIRECTORS - M.IIDA, J.TODA, S.KIMURA, K.HARAGUCHI, K.KUWAHARA, S.MAEDA, Y.NAKAYAMA, K.SATO, F.OBATA, T.ITO, H.ITO

For

Yes

Against

Management

RETIREMENT ALLOWANCES TO THE RETIRING DIRECTORS

For

Yes

For

Management

SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

THE JAPAN EQUITY FUND, INC.

By:	/s/ Yoshiaki Uematsu
	Name: Yoshiaki Uematsu
	Title: President

Date:	July 9, 2009

Abrdn Japan Equity Fund (JEQ) N-PXAnnual report of proxy voting record