Transaction in Own Shares

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN JAPAN SMALLER COMPANIES TRUST PLC

('the Company')

REPURCHASE OF ORDINARY SHARES INTO TREASURY

Legal Entity Identifier: 549300KP3CRHPQ4RF811

Information disclosed in accordance with LR 12.4.6 and DTR 5.5.1

The Company has today purchased into Treasury 85,000 Ordinary shares at 332.90 pence per share.

Following the transaction the Company holds 964,000 ordinary shares in Treasury. The shares in issue less the total number of Treasury shares is 54,980,560.

The Company will only re-issue shares held in Treasury at a premium to Net Asset Value.

24 March 2017

For further information, please contact:

Rhys Williams

JPMorgan Funds Limited - Secretary

Telephone 020 7742 4000