Form NPORT-P ABERDEEN JAPAN EQUITY For: Jul 31

  
    NPORT-P
    false
    
      
      
        
          0000866095
          XXXXXXXX
        
      
      
      
      
      
    
  
  
    
      ABERDEEN JAPAN EQUITY FUND, INC.
      811-06142
      0000866095
      549300TENE1BGI09O157
      1900 Market Street
      Suite 200
      PHILADELPHIA
      
      19103
      215-405-5700
      ABERDEEN JAPAN EQUITY FUND, INC.
      549300TENE1BGI09O157
      2021-10-31
      2021-07-31
      N
    
    
      153439007.22
      14795854.27
      138643152.95
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      14449355.96000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      868459.81000000
      N
      
        
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        Elecom Co Ltd
        353800BXFUVR7EPC0G35
        
        000000000
        
          
        
        80400.00000000
        NS
        
        1415529.34000000
        1.020987556818
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Chugai Pharmaceutical Co Ltd
        529900T9LAII161DCN95
        
        000000000
        
          
        
        40100.00000000
        NS
        
        1477705.33000000
        1.065833615694
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Scroll Corp
        N/A
        
        000000000
        
          
        
        173900.00000000
        NS
        
        1371053.22000000
        0.988907992084
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Otsuka Corp
        529900RG9DJ58J3UIE72
        
        000000000
        
          
        
        23600.00000000
        NS
        
        1226270.40000000
        0.884479596653
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Asahi Group Holdings Ltd
        353800KAJ02XNHLCJW79
        
        000000000
        
          
        
        118000.00000000
        NS
        
        5309354.28000000
        3.829510630009
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Tokyo Century Corp
        35380096ZLHOF84DXR74
        
        000000000
        
          
        
        34700.00000000
        NS
        
        1909645.97000000
        1.377382098839
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Advantest Corp
        353800EMK32PDKS9XR54
        
        000000000
        
          
        
        26300.00000000
        NS
        
        2321789.05000000
        1.674651074068
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        ValueCommerce Co Ltd
        N/A
        
        000000000
        
          
        
        66200.00000000
        NS
        
        2297329.62000000
        1.657009070493
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Sony Group Corp
        529900R5WX9N2OI2N910
        
        000000000
        
          
        
        56200.00000000
        NS
        
        5871015.82000000
        4.234623704870
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        MISUMI Group Inc
        353800SJWGE5BEK2V032
        
        000000000
        
          
        
        120000.00000000
        NS
        
        4182617.97000000
        3.016822598883
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Milbon Co Ltd
        N/A
        
        000000000
        
          
        
        20200.00000000
        NS
        
        1114347.33000000
        0.803752155291
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Takara Bio Inc
        529900OUPLSGTCWC5447
        
        000000000
        
          
        
        25700.00000000
        NS
        
        642443.81000000
        0.463379399797
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        As One Corp
        N/A
        
        000000000
        
          
        
        6000.00000000
        NS
        
        815184.51000000
        0.587973147360
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        USS Co Ltd
        5299000RRQD6UZXG4W72
        
        000000000
        
          
        
        127600.00000000
        NS
        
        2221252.18000000
        1.602136227240
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Welcia Holdings Co Ltd
        N/A
        
        000000000
        
          
        
        48200.00000000
        NS
        
        1640712.83000000
        1.183407038205
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Jeol Ltd
        N/A
        
        000000000
        
          
        
        23700.00000000
        NS
        
        1541192.15000000
        1.111625144990
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Coconala Inc
        N/A
        
        000000000
        
          
        
        35700.00000000
        NS
        
        559766.71000000
        0.403746379168
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Tokyo Electron Ltd
        549300H5LSF8DP3RIJ34
        
        000000000
        
          
        
        4200.00000000
        NS
        
        1732186.77000000
        1.249385009748
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Daikin Industries Ltd
        549300Y7FWSTSHMW5Y57
        
        000000000
        
          
        
        16800.00000000
        NS
        
        3508388.54000000
        2.530516989371
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Daiichi Sankyo Co Ltd
        353800XGIU2IHQGC9504
        
        000000000
        
          
        
        52100.00000000
        NS
        
        1031803.57000000
        0.744215309624
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Z Holdings Corp
        52990078MD2OL792YM35
        
        000000000
        
          
        
        349900.00000000
        NS
        
        1751312.07000000
        1.263179632557
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Okinawa Cellular Telephone Co
        N/A
        
        000000000
        
          
        
        18500.00000000
        NS
        
        880034.89000000
        0.634748179967
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Edulab Inc
        N/A
        
        000000000
        
          
        
        15800.00000000
        NS
        
        658696.89000000
        0.475102358814
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        BML Inc
        N/A
        
        000000000
        
          
        
        35200.00000000
        NS
        
        1215725.12000000
        0.876873537662
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Amada Co Ltd
        529900QF5O6TQGCPDX85
        
        000000000
        
          
        
        461500.00000000
        NS
        
        4743357.00000000
        3.421270289280
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Tokyu Fudosan Holdings Corp
        N/A
        
        000000000
        
          
        
        654800.00000000
        NS
        
        3696573.47000000
        2.666250291735
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Resorttrust Inc
        353800FM9MYWH105SE11
        
        000000000
        
          
        
        136600.00000000
        NS
        
        2245159.01000000
        1.619379653613
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Appier Group Inc
        N/A
        
        000000000
        
          
        
        33500.00000000
        NS
        
        423715.51000000
        0.305615893020
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        SHO-BOND Holdings Co Ltd
        N/A
        
        000000000
        
          
        
        34900.00000000
        NS
        
        1474227.63000000
        1.063325233617
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Astellas Pharma Inc
        529900IB708DY2HBBB35
        
        000000000
        
          
        
        127800.00000000
        NS
        
        2035518.23000000
        1.468170758302
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        WealthNavi Inc
        N/A
        
        000000000
        
          
        
        36500.00000000
        NS
        
        1422468.77000000
        1.025992802192
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Keyence Corp
        529900M7PQBS7A89DZ11
        
        000000000
        
          
        
        7800.00000000
        NS
        
        4344619.45000000
        3.133670403158
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Sansan Inc
        N/A
        
        000000000
        
          
        
        14000.00000000
        NS
        
        1144793.08000000
        0.825711948726
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Takuma Co Ltd
        N/A
        
        000000000
        
          
        
        55700.00000000
        NS
        
        894395.08000000
        0.645105842567
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        State Street Global Advisors
        549300BZ5TGIFZUZDZ37
        
        857492706
        
          
        
        81334.86000000
        NS
        USD
        81334.86000000
        0.058664894925
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Murata Manufacturing Co Ltd
        529900QZG6DL8ZRI7140
        
        000000000
        
          
        
        37600.00000000
        NS
        
        3120263.26000000
        2.250571480529
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Recruit Holdings Co Ltd
        353800R2LRSMVVC4I806
        
        000000000
        
          
        
        85700.00000000
        NS
        
        4441884.05000000
        3.203825039669
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        FANUC Corp
        529900QTSW745LOKW705
        
        000000000
        
          
        
        12200.00000000
        NS
        
        2732404.00000000
        1.970817845570
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Fukui Computer Holdings Inc
        N/A
        
        000000000
        
          
        
        30400.00000000
        NS
        
        1120853.51000000
        0.808444907772
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Sanken Electric Co Ltd
        529900516DFVRCC25K90
        
        000000000
        
          
        
        32600.00000000
        NS
        
        1547040.57000000
        1.115843470869
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Shin-Etsu Chemical Co Ltd
        353800PX8Q64N86H5W41
        
        000000000
        
          
        
        33800.00000000
        NS
        
        5513764.99000000
        3.976947200550
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Nitori Holdings Co Ltd
        N/A
        
        000000000
        
          
        
        10700.00000000
        NS
        
        2033813.41000000
        1.466941112290
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Toyota Motor Corp
        5493006W3QUS5LMH6R84
        
        000000000
        
          
        
        86600.00000000
        NS
        
        7774556.18000000
        5.607601972817
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Nippon Paint Holdings Co Ltd
        529900RYRJUN78A7PL87
        
        000000000
        
          
        
        120100.00000000
        NS
        
        1532978.63000000
        1.105700928882
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Kansai Paint Co Ltd
        549300ERRV6FTKH9NN70
        
        000000000
        
          
        
        88400.00000000
        NS
        
        2171051.56000000
        1.565927717168
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Japan Exchange Group Inc
        353800578ADEGIJTVW07
        
        000000000
        
          
        
        71600.00000000
        NS
        
        1628542.47000000
        1.174628847763
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Nabtesco Corp
        529900DVHQXYRTGW7739
        
        000000000
        
          
        
        77900.00000000
        NS
        
        2950574.24000000
        2.128178836977
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        NEC Networks & System Integration Corp
        N/A
        
        000000000
        
          
        
        85100.00000000
        NS
        
        1509124.93000000
        1.088495823911
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Pigeon Corp
        N/A
        
        000000000
        
          
        
        16400.00000000
        NS
        
        472208.80000000
        0.340592946678
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Asahi Intecc Co Ltd
        353800J3AV2SCNIO8L39
        
        000000000
        
          
        
        38500.00000000
        NS
        
        1043238.04000000
        0.752462720157
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Nihon M&A Center Inc
        N/A
        
        000000000
        
          
        
        26200.00000000
        NS
        
        729644.07000000
        0.526274867871
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Hoya Corp
        353800X4VR3BHEUCJB42
        
        000000000
        
          
        
        19100.00000000
        NS
        
        2696337.59000000
        1.944804004112
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Makita Corp
        529900CDR9E94BCM6294
        
        000000000
        
          
        
        52800.00000000
        NS
        
        2745544.27000000
        1.980295608965
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Shiseido Co Ltd
        5299008QCD0YDT5OF506
        
        000000000
        
          
        
        26600.00000000
        NS
        
        1777828.98000000
        1.282305647391
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Stanley Electric Co Ltd
        N/A
        
        000000000
        
          
        
        115500.00000000
        NS
        
        3013734.86000000
        2.173735085992
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Heiwa Real Estate Co Ltd
        N/A
        
        000000000
        
          
        
        69300.00000000
        NS
        
        2500889.05000000
        1.803831633071
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Taoka Chemical Co Ltd
        N/A
        
        000000000
        
          
        
        10600.00000000
        NS
        
        1207427.34000000
        0.870888546825
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Zuken Inc
        N/A
        
        000000000
        
          
        
        32200.00000000
        NS
        
        1014578.95000000
        0.731791601973
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Menicon Co Ltd
        3538000OOSRECSEX2327
        
        000000000
        
          
        
        12800.00000000
        NS
        
        935614.70000000
        0.674836571509
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Yamaha Corp
        529900S5TENP3IJS7S02
        
        000000000
        
          
        
        40200.00000000
        NS
        
        2227642.75000000
        1.606745592985
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Koito Manufacturing Co Ltd
        N/A
        
        000000000
        
          
        
        48400.00000000
        NS
        
        2962106.44000000
        2.136496737828
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Shoei Co Ltd
        N/A
        
        000000000
        
          
        
        39600.00000000
        NS
        
        1659044.16000000
        1.196628989387
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        KDDI Corp
        5299003FU7V4I45FU310
        
        000000000
        
          
        
        113500.00000000
        NS
        
        3471238.83000000
        2.503721789457
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Zenkoku Hosho Co Ltd
        353800VOQEKTSCSL9O03
        
        000000000
        
          
        
        72000.00000000
        NS
        
        3266704.78000000
        2.356196256715
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Workman Co Ltd
        N/A
        
        000000000
        
          
        
        7900.00000000
        NS
        
        545048.90000000
        0.393130773790
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        NEC Corp
        5493000QYMPFRTEY4K28
        
        000000000
        
          
        
        36500.00000000
        NS
        
        1851171.22000000
        1.335205656111
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Tokio Marine Holdings Inc
        5299009QN2NZ191KLS29
        
        000000000
        
          
        
        124500.00000000
        NS
        
        5933802.45000000
        4.279910203816
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
      
        Nippon Sanso Holdings Corp
        353800F1K6653B4VPY57
        
        000000000
        
          
        
        201200.00000000
        NS
        
        4453771.94000000
        3.212399491236
        Long
        EC
        CORP
        JP
        N
        
        2
        
          N
          N
          N
        
      
    
    
      
    
    
      2021-08-30
      ABERDEEN JAPAN EQUITY FUND, INC.
      Sharon Ferrari
      Sharon Ferrari
      Assistant Treasurer
    
  
  XXXX

 

Statement of Investments

 

July 31, 2021 (unaudited)

Aberdeen Japan Equity Fund, Inc.

 

			Shares or
			Principal
			Amount				Value
COMMON STOCKS (109.4%)
JAPAN (109.4%)
Communication Services (6.5%)
Coconala, Inc.(a)			35,700			$	559,767
KDDI Corp.			113,500				3,471,239
Okinawa Cellular Telephone Co.			18,500				880,035
ValueCommerce Co. Ltd.			66,200				2,297,329
Z Holdings Corp.			349,900				1,751,312
							8,959,682
Consumer Discretionary (23.5%)
Edulab, Inc.			15,800				658,697
Koito Manufacturing Co. Ltd.(b)			48,400				2,962,107
Nitori Holdings Co. Ltd.			10,700				2,033,813
Resorttrust, Inc.			136,600				2,245,159
Scroll Corp.			173,900				1,371,053
Shoei Co. Ltd.			39,600				1,659,044
Sony Group Corp.(b)			56,200				5,871,016
Stanley Electric Co. Ltd.			115,500				3,013,735
Toyota Motor Corp.(b)			86,600				7,774,556
USS Co. Ltd.			127,600				2,221,252
Workman Co. Ltd.			7,900				545,049
Yamaha Corp.			40,200				2,227,643
							32,583,124
Consumer Staples (7.4%)
Asahi Group Holdings Ltd.			118,000				5,309,354
Milbon Co. Ltd.			20,200				1,114,347
Pigeon Corp.			16,400				472,209
Shiseido Co. Ltd.			26,600				1,777,829
Welcia Holdings Co. Ltd.			48,200				1,640,713
							10,314,452
Financials (10.2%)
Japan Exchange Group, Inc.			71,600				1,628,542
Tokio Marine Holdings, Inc.(b)			124,500				5,933,802
Tokyo Century Corp.(b)			34,700				1,909,646
WealthNavi, Inc.(a)			36,500				1,422,469
Zenkoku Hosho Co. Ltd.			72,000				3,266,705
							14,161,164
Health Care (9.7%)
AS One Corp.			6,000				815,184
Asahi Intecc Co. Ltd.			38,500				1,043,238
Astellas Pharma, Inc.			127,800				2,035,518
BML, Inc.			35,200				1,215,725
Chugai Pharmaceutical Co. Ltd.(b)			40,100				1,477,705
Daiichi Sankyo Co. Ltd.			52,100				1,031,804
Hoya Corp.(b)			19,100				2,696,338
Jeol Ltd.			23,700				1,541,192

 

See accompanying Notes to Portfolio of Investments.

 

 

Statement of Investments (continued)

 

July 31, 2021 (unaudited)

Aberdeen Japan Equity Fund, Inc.

 

Menicon Co. Ltd.			12,800			$	935,615
Takara Bio, Inc.			25,700				642,444
							13,434,763
Industrials (20.5%)
Amada Co. Ltd.(b)			461,500				4,743,357
Daikin Industries Ltd.(b)			16,800				3,508,389
FANUC Corp.(b)			12,200				2,732,404
Makita Corp.(b)			52,800				2,745,544
MISUMI Group, Inc.(b)			120,000				4,182,618
Nabtesco Corp.			77,900				2,950,574
Nihon M&A Center, Inc.			26,200				729,644
Recruit Holdings Co. Ltd.(b)			85,700				4,441,884
SHO-BOND Holdings Co. Ltd.			34,900				1,474,228
Takuma Co. Ltd.			55,700				894,395
							28,403,037
Information Technology (16.4%)
Advantest Corp.(b)			26,300				2,321,789
Appier Group, Inc.(a)			33,500				423,716
Elecom Co. Ltd.			80,400				1,415,529
Fukui Computer Holdings, Inc.			30,400				1,120,854
Keyence Corp.(b)			7,800				4,344,619
Murata Manufacturing Co. Ltd.(b)			37,600				3,120,263
NEC Corp.			36,500				1,851,171
NEC Networks & System Integration Corp.			85,100				1,509,125
Otsuka Corp.			23,600				1,226,270
Sanken Electric Co. Ltd.(a)(b)			32,600				1,547,041
Sansan, Inc.(a)			14,000				1,144,793
Tokyo Electron Ltd.			4,200				1,732,187
Zuken, Inc.			32,200				1,014,579
							22,771,936
Materials (10.7%)
Kansai Paint Co. Ltd.(b)			88,400				2,171,051
Nippon Paint Holdings Co. Ltd.			120,100				1,532,979
Nippon Sanso Holdings Corp.(b)			201,200				4,453,772
Shin-Etsu Chemical Co. Ltd.(b)			33,800				5,513,765
Taoka Chemical Co. Ltd.			10,600				1,207,427
							14,878,994
Real Estate (4.5%)
Heiwa Real Estate Co. Ltd.(b)			69,300				2,500,889
Tokyu Fudosan Holdings Corp.			654,800				3,696,574
							6,197,463
Total Common Stocks							151,704,615

 

See accompanying Notes to Portfolio of Investments.

 

 

Statement of Investments (concluded)

 

July 31, 2021 (unaudited)

Aberdeen Japan Equity Fund, Inc.

 

Shares		Description			Value (US$)
SHORT-TERM INVESTMENT—0.1%
UNITED STATES—0.1%
81,335		State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.03%(c)			81,335
Total Short-Term Investment—0.1% (cost $81,335)					81,335
Total Investments—109.5% (cost $129,758,453)					151,785,950
Liabilities in Excess of Other Assets—(9.5)%					(13,142,797	)
Net Assets—100.0%				$	138,643,153

 

(a)

Non-income producing security.

(b)

All or a portion of the security has been designated as collateral for the line of credit.

(c)

Registered investment company advised by State Street Global Advisors. The rate shown is the 7 day yield as of July 31, 2021.

 

See accompanying Notes to Portfolio of Investments.

 

 

Notes to Portfolio of Investments (unaudited)

 

July 31, 2021

 

Summary of Significant Accounting Policies

 

a. Security Valuation:

 

The Fund values its securities at current market value or fair value, consistent with regulatory requirements. "Fair value" is defined in the Fund's Valuation and Liquidity Procedures as the price that could be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants without a compulsion to transact at the measurement date.

 

Equity securities that are traded on an exchange are valued at the last quoted sale price on the principal exchange on which the security is traded at the “Valuation Time” subject to application, when appropriate, of the valuation factors described in the paragraph below. Under normal circumstances, the Valuation Time is as of the close of regular trading on the New York Stock Exchange (usually 4:00 p.m. Eastern Time). In the absence of a sale price, the security is valued at the mean of the bid/ask price quoted at the close on the principal exchange on which the security is traded. Securities traded on NASDAQ are valued at the NASDAQ official closing price. Closed-end funds and exchange-traded funds ("ETFs") are valued at the market price of the security at the Valuation Time. A security using any of these pricing methodologies is determined to be a Level 1 investment.

 

Foreign equity securities that are traded on foreign exchanges that close prior to the Valuation Time are valued by applying valuation factors to the last sale price or the mean price as noted above. Valuation factors are provided by an independent pricing service provider. These valuation factors are used when pricing the Fund's portfolio holdings to estimate market movements between the time foreign markets close and the time the Fund values such foreign securities. These valuation factors are based on inputs such as depositary receipts, indices, futures, sector indices/ETFs, exchange rates, and local exchange opening and closing prices of each security. When prices with the application of valuation factors are utilized, the value assigned to the foreign securities may not be the same as quoted or published prices of the securities on their primary markets. A security that applies a valuation factor is determined to be a Level 2 investment because the exchange-traded price has been adjusted. Valuation factors are not utilized if the independent pricing service provider is unable to provide a valuation factor or if the valuation factor falls below a predetermined threshold; in such case, the security is determined to be a Level 1 investment.

 

Short-term investments are comprised of cash and cash equivalents invested in short-term investment funds which are redeemable daily. The Fund sweeps available cash into the State Street Institutional U.S. Government Money Market Fund, which has elected to qualify as a “government money market fund” pursuant to Rule 2a-7 under the Investment Company Act of 1940, and has an objective to maintain a $1.00 per share net asset value. Generally, these investment types are categorized as Level 1 investments.

 

In the event that a security’s market quotations are not readily available or are deemed unreliable (for reasons other than because the foreign exchange on which it trades closes before the Valuation Time), the security is valued at fair value as determined by the Fund's Pricing Committee, taking into account the relevant factors and surrounding circumstances using valuation policies and procedures approved by the Board. A security that has been fair valued by the Fund's Pricing Committee may be classified as Level 2 or Level 3 depending on the nature of the inputs.

 

Aberdeen Japan Equity Fund, Inc.

 

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Black Construction Awarded Three Projects in Diego Garcia Totaling $54.5 Million
• Hanryu Holdings, Inc. Announces Receipt of a Delinquency Compliance Alert Notice from Nasdaq
• Pulse Seismic Inc. Reports Q1 2024 Results and Increases Regular Dividend