Home / Filers / JAPAN SMALLER CAPITALIZATION FUND INC
JAPAN SMALLER CAPITALIZATION FUND INC
fund voting report
- Vote records reported
- 1,019year to 30 June 2026
- Against management
- 7.3%74 of 1,019 marked votes
- Say-on-pay support
- not reportedfor, of for + against + abstain
- Shareholder-proposal support
- 8.8%for, of for + against + abstain
foragainstabstain, withhold or otheramber tick: the portion cast against management
JAPAN SMALLER CAPITALIZATION FUND INC reported 1,019 vote records for the year to 30 June 2026. It marked 7.3% of its votes as cast against management (74 of 1,019), 1.0 percentage points above the median fund registrant, which was 6.2%.
Weighted by the number of shares voted, the against-management share is 5.2%. The two figures differ when the votes against management fall on larger or smaller holdings than the rest.
On pay and on shareholder proposals: it voted for 8.8% of the proposals put forward by security holders (the median fund registrant: 27.5%).
By category, votes against management were most frequent in CORPORATE GOVERNANCE (10.3% of 87), DIRECTOR ELECTIONS (7.3% of 813) and COMPENSATION (6.5% of 93).
Compared with other filers
Each rate is defined once, in the methodology. The median is taken over 1,241 fund registrants with at least 25 vote records in the season.
| year to 30 June 2026 | This filer | Median fund registrant | All filers pooled |
|---|---|---|---|
| Against-management share | 7.3% | 6.2% | 10.6% |
| Say-on-pay support rate | not reported | 91.6% | 86.0% |
| Shareholder-proposal support rate | 8.8% | 27.5% | 33.9% |
| Shares on loan, share of shares held | 0.00% | 0.00% | 3.12% |
| Largest families, year to 30 June 2026 | Against management | Say-on-pay support | Shareholder-proposal support |
|---|---|---|---|
| Vanguard | 20.1% | 94.1% | 42.0% |
| BlackRock and iShares | 7.5% | 88.3% | 11.9% |
| Fidelity | 6.0% | 94.7% | 27.6% |
| Dimensional | 16.4% | 78.9% | 57.4% |
| State Street and SPDR | 16.9% | 77.1% | 50.4% |
Votes by category
Filers choose one or more categories for each vote, so a vote can appear in more than one row. Category names are printed as Form N-PX defines them.
| Category (as the form names it) | Votes | For | Against | Against management | Split |
|---|---|---|---|---|---|
| DIRECTOR ELECTIONS | 813 | 749 | 64 | 7.3% | |
| AUDIT-RELATED | 2 | 1 | 1 | 0.0% | |
| SHAREHOLDER RIGHTS AND DEFENSES | 3 | 0 | 3 | 100.0% | |
| EXTRAORDINARY TRANSACTIONS | 2 | 1 | 1 | 50.0% | |
| CAPITAL STRUCTURE | 69 | 61 | 8 | 1.4% | |
| COMPENSATION | 93 | 84 | 9 | 6.5% | |
| CORPORATE GOVERNANCE | 87 | 69 | 18 | 10.3% | |
| ENVIRONMENT OR CLIMATE | 4 | 0 | 4 | 0.0% | |
| DIVERSITY, EQUITY, AND INCLUSION | 1 | 0 | 1 | 0.0% | |
| OTHER SOCIAL ISSUES | 3 | 0 | 3 | 0.0% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support | Split |
|---|---|---|---|---|---|
| year to 30 June 2024 | 995 | 7.1% | not reported | 0.0% | |
| year to 30 June 2025 | 897 | 8.5% | not reported | 14.3% | |
| year to 30 June 2026 | 1,019 | 7.3% | not reported | 8.8% |
Say-on-pay votes against management
No say-on-pay items could be matched to company meetings for this season.
Shareholder proposals it supported
Of 28 proposals from security holders that could be told apart in the filings and on which it cast a vote, JAPAN SMALLER CAPITALIZATION FUND INC voted for 3 (10.7%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.
| Company | Meeting | Proposal |
|---|---|---|
| Rohto Pharmaceutical Co., Ltd. | 24 Jun 2026 | Amend Articles to Restore Shareholder Authority to Vote on Income Allocation and Share Buybacks |
| Rohto Pharmaceutical Co., Ltd. | 24 Jun 2026 | Amend Articles to Require Majority Outsider Board |
| Tohoku Electric Power Co., Inc. | 25 Jun 2026 | Amend Articles to Abolish Advisory Posts |
Shares on loan
JAPAN SMALLER CAPITALIZATION FUND INC reported no shares on loan for the year to 30 June 2026. Shares lent out at the record date cannot be voted by the lender, which is why Form N-PX asks for the figure. More on lending and votes.
The filings
These figures are read from the filer's own Form N-PX. If a vote on this page looks wrong, the filing is the record: a dispute about a filed vote is a matter for the filer, and an error in how this site read the filing is a matter for corrections.
- N-PX filed 12 Aug 2026 accession 0001140361-26-032394
- Every N-PX filing by this filer on EDGAR
Questions
How did JAPAN SMALLER CAPITALIZATION FUND INC vote on executive pay?
JAPAN SMALLER CAPITALIZATION FUND INC reported no say-on-pay votes for the year to 30 June 2026.
How often does JAPAN SMALLER CAPITALIZATION FUND INC vote against management?
7.3% of the time in the year to 30 June 2026: 74 of the 1,019 votes it marked as for or against management. Form N-PX asks each filer to state, vote by vote, whether the vote was for or against management's recommendation; this figure counts those marks.
Did JAPAN SMALLER CAPITALIZATION FUND INC support shareholder proposals on climate?
In the category ENVIRONMENT OR CLIMATE it reported 4 votes on proposals from security holders in the year to 30 June 2026 and voted for 0 of them (0.0%). Across every category it voted for 8.8% of security-holder proposals. Filers choose the category for each vote, so the same proposal can sit in different categories in different filings.
Is this the result of the meetings?
No. Form N-PX shows how this filer voted the shares it held. It does not show how other shareholders voted or whether a proposal was approved. Companies report certified results separately, on Form 8-K.
Where does the data come from?
From the Form N-PX filings of this filer on the SEC's EDGAR system, read as filed. The SEC does not verify the contents. Amended filings (N-PX/A) replace the filings they amend. Data on this page runs through 23 Sep 2026.
Provenance: SEC EDGAR, Form N-PX and N-PX/A filings by JAPAN SMALLER CAPITALIZATION FUND INC (filer no. 859796), read as filed and not verified by the SEC. Amended filings replace the filings they amend. Filings read through 23 Sep 2026; page built 26 Sep 2026.