Japan Smaller Capitalization Fund, Inc. Change in Portfolio Manager

NEW YORK, NY--(Marketwired - Jun 28, 2013) - Japan Smaller Capitalization Fund, Inc. (NYSE: JOF) (the "Fund") announced that effective July 1, 2013, Mr. Hiromitsu Daimon of Nomura Asset Management Co., Ltd. ("NAM-Tokyo") will become the Lead Portfolio Manager for the Fund and Mr. Makoto Ito of NAM-Tokyo will become the Co-Portfolio Manager for the Fund. Messrs. Daimon and Ito will be responsible for the day-to-day portfolio management of the Fund.

Mr. Daimon has been a portfolio manager with NAM-Tokyo since 2001 and a senior portfolio manager since 2006. He has recently been appointed the leader of the Japanese Small Cap Team within NAM-Tokyo. Mr. Ito joined NAM-Tokyo in 2006 and was named a portfolio manager in 2008.

Mr. Daimon has served for nine years as the portfolio manager for Japanese-domiciled open-end collective investment vehicles that focus on Japanese smaller capitalization companies. These vehicles invest in diversified portfolios of smaller capitalization issuers with a focus on value characteristics evidenced by various financial measurements. The Fund expects that its portfolio will be managed in a similar style.

The Fund invests primarily in the securities of smaller capitalization companies in Japan and is designed for investors seeking long-term capital appreciation. The manager of the Fund is Nomura Asset Management U.S.A. Inc., which is based in New York. Nomura Asset Management U.S.A. Inc. is a subsidiary of NAM-Tokyo, which is one of the largest investment advisory companies in Japan in terms of assets under management and which serves as the investment adviser to the Fund.