1607 Capital Discloses 15% Ownership in Japan Smaller Capitalization Fund

Rhea-AI Filing Summary

1607 Capital Partners, LLC reports beneficial ownership of 4,248,790 shares of Japan Smaller Capitalization Fund, Inc. common stock (CUSIP 47109U104), representing 15% of the class. The filer states it has sole voting and sole dispositive power over these shares and certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. The filing identifies the issuer's principal executive offices and provides the filer’s registered address and Delaware organization status.

Positive

• Clear disclosure of beneficial ownership and voting/dispositive powers provides transparency to the market
• Holding declared in ordinary course, reducing immediate concerns of an active control contest according to the filer

Negative

• Concentrated 15% stake by a single adviser could be materially influential despite the certification
• No details on acquisition timing or intent beyond the ordinary-course certification, limiting context for investors

Insights

Investment Adviser

TL;DR A Delaware investment adviser holds a material 15% stake with sole voting and dispositive power, disclosed as held in the ordinary course of business.

The reporting shows a meaningful, concentrated position by 1607 Capital Partners, LLC in Japan Smaller Capitalization Fund, Inc., totaling 4,248,790 shares or 15% of the class. As an investment adviser (Type "IA"), the firm reports sole voting and dispositive authority, which means it can unilaterally vote and dispose of the shares. The certification that holdings are not intended to change or influence control is standard but material because >5% ownership triggers increased disclosure and investor attention. No transaction details, cost basis, or intent beyond the certification are provided.

Corporate Governance Expert

TL;DR A single adviser reporting sole control of 15% may affect governance discussions despite a stated non-control intent.

From a governance perspective, a 15% single-holder position is potentially influential even if the filer certifies no intent to alter control. The filing documents sole voting and dispositive power, which gives the holder practical ability to influence shareholder votes or strategic outcomes if they choose. The statement lacks any scheduled cooperation with other investors or planned nominations; it is a straightforward disclosure of beneficial ownership without proposed governance actions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 15)

Japan Smaller Capitalization Fund, Inc.

(Name of Issuer)

Common Stock, par value $0.10 per share

(Title of Class of Securities)

47109U104

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 47109U104

1

Names of Reporting Persons

1607 Capital Partners, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 4,248,790.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 4,248,790.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,248,790.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

15 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Japan Smaller Capitalization Fund, Inc.
(b)	Address of issuer's principal executive offices: Worldwide Plaza, 309 West 49th Street, New York, New York 10019
Item 2.
(a)	Name of person filing: 1607 Capital Partners, LLC
(b)	Address or principal business office or, if none, residence: 13 S. 13th Street, Suite 400, Richmond, Virginia 23219
(c)	Citizenship: Delaware, United States
(d)	Title of class of securities: Common Stock, par value $0.10 per share
(e)	CUSIP No.: 47109U104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 4,248,790
(b)	Percent of class: 15%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 4,248,790
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 4,248,790
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

1607 Capital Partners, LLC

Signature:	Kevin Rutherford
Name/Title:	Kevin Rutherford | Chief Compliance Officer
Date:	08/14/2025

FAQ

How many shares of JOF does 1607 Capital Partners, LLC report owning?

4,248,790 shares

What percentage of Japan Smaller Capitalization Fund, Inc. does the filing report?

15% of the class

Does 1607 Capital Partners claim voting control over the shares?

Yes. The filer reports sole voting power and sole dispositive power for the reported shares

What does the filer say about its intent regarding control of the issuer?

The filer certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer

What class of securities is reported in the filing?

Common Stock, par value $0.10 per share (CUSIP 47109U104)