Ten Largest Investments

JPMORGAN JAPAN SMALLER COMPANIES TRUST PLC (the 'Company')

Legal Entity Identifier: 549300KP3CRHPQ4RF811

THE COMPANY ANNOUNCES THE TEN LARGEST INVESTMENTS IN % OF TOTAL ASSETS As at: 28 February 2017

Asahi Intecc

2.2%

Chiba Bank

2.0%

Sanwa

2.0%

Iriso Electronics

1.9%

Seria

1.7%

Cosmos Pharmaceutical

1.7%

Anicom

1.7%

Misumi Group

1.7%

Nifco

1.6%

UNIPRES

1.6%

Total

18.1%

Name of contact and telephone number for queries:

Debbie Sarfas 0044 207 742 3449

Name of authorised company official responsible for making this notification:

Rhys Williams 0044 207 742 5073 - Company Secretary

Date: 10 March 2017