JPMorgan Japan Smaller Companies Trust plc - Ordinary Shares - J.P. Morgan Asset Management
JPMorgan Japan Smaller Companies Trust plc

About this trust



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Manager Commentary

Fund Managers

Board of Directors

  • Alan Clifton

  • Bernard Grigsby

  • Deborah Guthrie

  • Yuuichiro Nakajima

  • Chris Russell

  • Robert White

In their words (as of )

The Company's share price outperformed the benchmark in January, while the net asset value performed in line. Shoei (producer of motorcycle helmets) and Harmonic Drive Systems (robot parts manufacturer) were among the top contributors, while Nifco (auto parts) was the top detractor.

Earnings forecasts for Japanese companies have been revised up sharply, backed by a pick-up in the global economy and the weaker Japanese yen vs. a few months ago. Japan has regained the top spot among major markets in terms of the revision index for the first time in nearly a year. The interest rate environment has also improved for Japanese banks. The outlook for inflation is gradually improving, driven by a tight labour market and rising commodity prices. Corporate governance continues to be a major focus in Japan. In 2016, total share buybacks totalled a record high of JPY 5.2 trillion.


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AGM information

Annual General Meeting: 14 July 2017 2.30pm at 60 Victoria Embankment, London, EC4Y 0JP



Source:Morningstar (
3 Actual gearing: Represents the excess amount above shareholders' funds of total assets less cash/cash equivalents, expressed as a percentage of shareholders funds. If the amount calculated is negative, this represents a net cash position.
7 Non-Benchmark holdings (where held) are classified in the appropriate sector/region. Cash is net current assets and holdings used as cash substitutes if applicable.