Japan Smaller Capitalization Fund (NYSE: JOF) gains 12.3% passive stake by Lazard

Rhea-AI Filing Summary

Lazard Asset Management LLC has filed a Schedule 13G reporting a passive ownership stake in Japan Smaller Capitalization Fund Inc. Lazard reports beneficial ownership of 3,480,024 shares of the fund’s equity, representing 12.3% of the outstanding class. Lazard has sole voting and sole dispositive power over all of these shares, with no shared voting or dispositive authority.

The filing states that 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 fund. This positions Lazard as a significant but passive institutional investor in Japan Smaller Capitalization Fund Inc.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Japan Smaller Capitalization Fund Inc

(Name of Issuer)

Equity

(Title of Class of Securities)

47109U104

(CUSIP Number)

11/28/2025

(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

Lazard Asset Management 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

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,480,024.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,480,024.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,480,024.00

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)

12.3 %

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: 309 West 49th Street, Worldwide Plaza, New York, US-NY, 10019, US
Item 2.
(a)	Name of person filing: Lazard Asset Management LLC
(b)	Address or principal business office or, if none, residence: 30 Rockefeller Plaza, New York, 10112, NY, United States
(c)	Citizenship: NEW YORK
(d)	Title of class of securities: Equity
(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: 3,480,024
(b)	Percent of class: 12.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 3,480,024
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 3,480,024
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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.

Lazard Asset Management LLC

Signature:	Mark Anderson
Name/Title:	Managing Director, General Counsel
Date:	12/03/2025