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 April 2019

Benefit One

3.0%

Taiyo Yuden

2.5%

Misumi Group

2.3%

FP Corporation

2.3%

Raito Kogyo

2.1%

DTS

2.0%

Mercari

1.9%

Net One Systems

1.9%

Bengo4.com

1.8%

MIURA

1.7%

Total

21.5%

Name of contact and telephone number for queries:

Paul Ainger 0044 207 742 6524

Name of authorised company official responsible for making this notification:

Divya Amin 0044 207 742 1025 - Company Secretary

Date: 13 May 2019