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UNITED STATES |
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FORM N-Q |
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QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
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Investment Company Act file number |
811-06142 |
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THE JAPAN EQUITY FUND, INC. |
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(Exact name of registrant as specified in charter) |
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c/o Daiwa Securities Trust Company |
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07302 |
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(Address of principal executive offices) |
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(Zip code) |
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John J. O’Keefe |
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(Name and address of agent for service) |
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Registrant's telephone number, including area code: |
(201) 915-3054 |
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Date of fiscal year end: |
October 31, 2005 |
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Date of reporting period: |
July 31, 2005 |
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Item 1. Schedule of Investments. – The schedule of investments for the three-month period ended July 31, 2005 is filed herewith.
The Japan Equity Fund, Inc.
Portfolio of Investments
July 31, 2005 (unaudited)
COMMON STOCKS—97.86%
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Shares |
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Value |
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Banks—9.32% |
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362 |
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Mitsubishi Tokyo Financial Group Inc. |
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3,042,450 |
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45,000 |
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Mitsui Trust Holdings, Inc. |
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455,930 |
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400 |
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Mizuho Financial Group, Inc. |
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1,805,556 |
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31 |
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Sapporo Hokuyo Holdings, Inc. |
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234,598 |
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80,000 |
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The Bank of Fukuoka, Ltd. |
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460,114 |
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170,000 |
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The Bank of Yokohama, Ltd. |
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965,634 |
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300,000 |
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The Sumitomo Trust & Banking Co., Ltd. |
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1,850,962 |
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8,815,244 |
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Chemicals—7.51% |
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70,000 |
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Asahi Organic Chemicals Industry Co., Ltd. |
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247,418 |
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50,000 |
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Hitachi Chemical Co., Ltd. |
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860,488 |
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46,000 |
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Kao Corp. |
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1,052,528 |
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42,000 |
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Nitto Denko Corp. |
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2,310,897 |
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37,000 |
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Shin-Etsu Chemical Co., Ltd. |
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1,403,312 |
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153,000 |
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Tokuyama Corp. |
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1,231,410 |
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7,106,053 |
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Communication—5.38% |
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200 |
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KDDI Corp. |
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965,100 |
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660 |
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NTT Corp. |
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2,861,645 |
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540 |
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NTT DoCoMo, Inc. |
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836,538 |
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5,000 |
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Otsuka Corp. |
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431,802 |
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5,095,085 |
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Construction—2.96% |
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90,000 |
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Daiwa House Industry Co., Ltd. |
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1,012,019 |
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250,000 |
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Maeda Corp. |
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1,408,921 |
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80,000 |
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Shimizu Corp. |
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381,766 |
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2,802,706 |
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Electric Appliances—13.84% |
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7,000 |
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Canon Inc. |
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346,510 |
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24,100 |
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Enplas Corp. |
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641,551 |
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11,000 |
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Fanuc Ltd. |
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783,476 |
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10,000 |
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Hirose Electric Co., Ltd. |
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1,039,886 |
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2,300 |
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Keyence Corp. |
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552,475 |
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191,000 |
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Matsushita Electric Industrial Co., Ltd. |
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3,115,313 |
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26,000 |
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Murata Manufacturing Co., Ltd. |
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1,259,259 |
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41,000 |
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Neomax Co., Ltd. |
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870,593 |
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160,000 |
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Sharp Corp. |
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2,424,501 |
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50 |
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Sumida Corp. |
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910 |
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30,000 |
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TDK Corp. |
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2,061,966 |
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13,096,440 |
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Electric Power & Gas—3.96% |
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25,000 |
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Hokuriku Electric Power Co. |
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506,366 |
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33,000 |
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Kyushu Electric Power Co., Inc. |
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711,004 |
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50,000 |
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Tohoku Electric Power Co., Inc. |
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1,097,311 |
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60,000 |
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Tokyo Electric Power Co., Inc. |
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1,436,966 |
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3,751,647 |
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Foods—0.92% |
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88,000 |
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Fuji Oil Co., Ltd. |
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871,225 |
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1
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Glass & Ceramic Products—1.52% |
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45,000 |
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Asahi Glass Co., Ltd. |
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435,096 |
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18,000 |
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Nichiha Corp. |
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263,622 |
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180,000 |
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Nippon Sheet Glass Co., Ltd. |
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743,590 |
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1,442,308 |
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Insurance—3.51% |
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260,000 |
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Aioi Insurance Co., Ltd. |
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1,238,426 |
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100,000 |
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Mitsui Sumitomo Insurance Co., Ltd. |
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889,423 |
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240,000 |
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Nissay Dowa General Insurance Co., Ltd. |
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1,196,581 |
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3,324,430 |
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Iron & Steel—1.44% |
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540,000 |
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Nippon Steel Corp. |
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1,365,385 |
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Land Transportation—2.55% |
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275 |
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East Japan Railway Co. |
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1,351,496 |
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275,000 |
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Fukuyama Transporting Co., Ltd. |
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1,057,692 |
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2,409,188 |
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Machinery—6.01% |
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11,000 |
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Disco Corp. |
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476,941 |
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100,000 |
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Komatsu Ltd. |
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944,623 |
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51,400 |
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Miura Co., Ltd. |
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1,084,562 |
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22,100 |
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Shinkawa Ltd. |
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418,113 |
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19,200 |
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SMC Corp. |
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2,182,906 |
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26,000 |
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THK Co., Ltd. |
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576,389 |
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5,683,534 |
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Marine Transportation—1.35% |
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220,000 |
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Nippon Yusen Kabushiki Kaisha |
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1,275,107 |
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Non-Ferrous Metals—2.92% |
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341,000 |
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Mitsui Mining & Smelting Co., Ltd. |
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1,639,423 |
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100,000 |
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Sumitomo Electric Industries, Ltd. |
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1,122,685 |
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2,762,108 |
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Other Financing Business—3.17% |
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63,000 |
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Hitachi Capital Corp. |
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1,228,365 |
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12,000 |
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Orix Corp. |
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1,775,641 |
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3,004,006 |
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Other Products—0.65% |
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28,000 |
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Bandai Co., Ltd. |
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612,001 |
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Pharmaceutical—3.90% |
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28,000 |
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Astellas Pharma Inc. |
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912,393 |
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33,300 |
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Eisai Co., Ltd. |
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1,135,497 |
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32,000 |
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Takeda Pharmaceutical Co., Ltd. |
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1,638,177 |
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3,686,067 |
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Precision Instruments—2.29% |
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10,300 |
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Hoya Corp. |
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1,270,994 |
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32,000 |
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Terumo Corp. |
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897,436 |
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2,168,430 |
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Real Estate—1.21% |
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100,000 |
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Mitsui Fudosan Co., Ltd. |
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1,140,491 |
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Retail Trade—6.01% |
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12,000 |
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Ito-Yokado Co., Ltd. |
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399,573 |
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20,000 |
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Marui Co., Ltd. |
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293,447 |
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13,000 |
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Nitori Co., Ltd. |
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899,306 |
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3,100 |
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Plenus Co., Ltd. |
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102,119 |
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15,200 |
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Shimamura Co., Ltd. |
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1,227,422 |
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2
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34,000 |
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Sundrug Co., Ltd. |
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1,425,748 |
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20,000 |
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Yamada Denki Co., Ltd. |
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1,130,698 |
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7,600 |
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York-Benimaru Co., Ltd. |
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211,788 |
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5,690,101 |
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Textile & Apparel—2.71% |
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50,000 |
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Kuraray Co., Ltd. |
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448,718 |
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225,000 |
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Teijin Ltd. |
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1,027,644 |
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26,000 |
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World Co., Ltd. |
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1,083,333 |
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2,559,695 |
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Transportation Equipment—12.52% |
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42,000 |
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Aisin Seiki Co., Ltd. |
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985,310 |
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18,000 |
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Denso Corp. |
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435,096 |
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55,000 |
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Honda Motor Co., Ltd. |
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2,830,306 |
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360,000 |
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Mazda Motor Corp. |
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1,439,103 |
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32,000 |
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NOK Corp. |
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814,815 |
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80 |
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Tachi-S Co., Ltd. |
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917 |
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40,000 |
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Tokai Rika Co., Ltd. |
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687,322 |
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123,000 |
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Toyota Motor Corp. |
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4,654,113 |
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11,846,982 |
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Wholesale Trade—2.21% |
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50,000 |
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Mitsubishi Corp. |
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714,922 |
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163,000 |
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Sumitomo Corp. |
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1,375,748 |
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2,090,670 |
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Total Common Stocks (Cost—$84,193,060) |
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92,598,903 |
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SHORT-TERM INVESTMENTS—0.08%
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Principal |
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Value |
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U.S. DOLLAR TIME DEPOSIT—0.08% |
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77 |
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Bank of New York Time Deposit, 0.05%, due 8/1/05 |
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(Cost—$77,081) |
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77,081 |
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Total
Investments—97.94% |
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92,675,984 |
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Other assets less liabilities—2.06% |
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1,952,421 |
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NET ASSETS |
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(Applicable
to 14,420,917 shares of capital stock |
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100.00 |
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94,628,405 |
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3
Item 2. Controls and Procedures.
a) The Registrant’s Principal Executive Officer and Principal Financial Officer concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) were effective as of a date within 90 days prior to the filing date of this report (the “Evaluation Date”), based on their evaluation of the effectiveness of the Registrant’s disclosure controls and procedures as of the Evaluation Date.
b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the Registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.
Item 3. Exhibits.
(a) Certification of Principal Executive Officer and Principal Financial Officer of the Registrant as required by Rule 30-a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is attached hereto as Exhibit 99.302CERT.
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
The Japan Equity Fund, Inc.
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By |
\s\John J. O’Keefe |
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John J. O’Keefe, Vice President & Treasurer |
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Date: August 12, 2005
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
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By |
\s\John J. O’Keefe |
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Date: August 12, 2005 |
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John J. O’Keefe, Vice President & Treasurer |
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\s\ Hiroshi Kimura |
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Date: August 12, 2005 |
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Hiroshi Kimura, Chairman |
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