Japan Equity Fund Inc. Reports Earnings Results for the First Quarter Ended January 31, 2012
March 06, 2012 at 11:04 am
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Japan Equity Fund Inc. reported earnings results for the first quarter ended January 31, 2012. For the quarter ended January 31, 2012, the fund incurred a net investment loss of approximately $239,000 (equivalent to a loss of $0.02 per share). In addition, net realized and unrealized gains from investment activities and foreign currency transactions during that same three-month period were approximately $832,000 (equivalent to a gain of $0.06 per share). In comparison, for the quarter ended January 31, 2011, the fund incurred a net investment loss of approximately $232,000 (equivalent to a loss of $0.02 per share). In addition, net realized and unrealized gains from investment activities and foreign currency transactions during that same three-month period were approximately $9,226,000 (equivalent to a gain of $0.64 per share). The net asset value per share on that date was $6.00, based on 14,481,811 shares outstanding. In comparison, total net assets on January 31, 2011 were approximately $99.2 million, equivalent to a NAV of $6.86 per share, based on 14,456,819 shares outstanding.
abrdn Japan Equity Fund, Inc. (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to outperform over the long term, on a total return basis (including appreciation and dividends), the Tokyo Stock Price Index (TOPIX). The Fund seeks to achieve its investment objective by investing substantially all of its assets, but under normal circumstances at least 80% of its assets, in equity securities of companies listed on the Tokyo Stock Exchange (TSE) or listed on the over-the-counter market in Japan or listed on other stock exchanges in Japan. The Fund invests in various sectors, including consumer discretionary, industrials, information technology, healthcare, financials, materials, communication services, consumer staples, real estate, and short-term investment. abrdn Asia Limited is the investment manager of the Fund.
ABRDN JAPAN EQUITY FUND INC 