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: 30 June 2017

Iriso Electronics

2.3%

Benefit One

2.3%

Misumi Group

2.3%

Asahi Intecc

2.2%

Sanwa

2.0%

Seria

1.9%

Taiheiyo Cement

1.9%

FUJITSU GENERAL

1.9%

Chiba Bank

1.8%

DTS

1.8%

Total

20.4%

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: 12 July 2017