[Form 3] ABRDN JAPAN EQUITY FUND, INC. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Iamthongthong Pruksa filed an initial Form 3 reporting a relationship to ABRDN JAPAN EQUITY FUND, INC. (JEQ) as Director of Adviser. The filing expressly states that no securities are beneficially owned by the reporting person. The submission includes a power of attorney exhibit and was executed via an authorized POA signatory.

Positive

• Clear disclosure of reporting person's role as Director of Adviser for JEQ
• Explicit statement that no securities are beneficially owned, removing ambiguity about insider holdings

Negative

• None.

Insights

Financial Analyst

TL;DR: Initial disclosure shows no beneficial ownership; no immediate balance-sheet or market impact.

The Form 3 confirms a reporting relationship but reports zero beneficial ownership of the issuer's securities. For investors, this is a routine corporate-governance disclosure that does not indicate a stake or voting exposure by the reporting person. There are no transactions, holdings, or derivative positions disclosed that would affect ownership percentages or signal insider trading activity.

Corporate Governance Expert

TL;DR: Governance disclosure completed; absence of holdings reduces potential related-party concerns but provides limited governance signal.

The filer is identified as Director of Adviser, and the Form 3 includes an Exhibit 24 power of attorney. Reporting no beneficial ownership is a clear, factual statement; it neither raises immediate red flags nor provides affirmative evidence of alignment between management/adviser and public shareholders. This is a routine initial disclosure in situations where the individual holds an advisory role without securities.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Iamthongthong Pruksa

(Last) (First) (Middle)

C/O ABRDN

1900 MARKET STREET, SUITE 200

(Street)

PHILADELPHIA PA 19103

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/09/2025

3. Issuer Name and Ticker or Trading Symbol
ABRDN JAPAN EQUITY FUND, INC. [ JEQ ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Director of Adviser

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney

No securities are beneficially owned.

	/s/ Robert Stieger by POA from Reporting Person	09/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did the Form 3 filed for JEQ disclose about beneficial ownership?

The Form 3 states that the reporting person does not beneficially own any securities of ABRDN JAPAN EQUITY FUND, INC. (JEQ).

What relationship to JEQ does Iamthongthong Pruksa have?

The filing identifies the reporting person as Director of Adviser to JEQ.

Does the Form 3 show any derivative or non-derivative holdings?

No. The Form 3 contains no entries in Table I or Table II and expressly states no securities are beneficially owned.

Is there any power of attorney noted in the filing for JEQ Form 3?

Yes. The filing lists Exhibit 24 - Power of Attorney and was signed via an authorized POA signatory.

Does this Form 3 indicate any transactions or changes in ownership for JEQ?

No. This initial statement reports no holdings and no transactions by the reporting person.