NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
COSEL CO (JPY) 11-Aug-05 AGM Vote For All except 60,900
Vote Against 4
1, Approve Allocation of Income
2. Amend Articles
3.1 Elect Director
3.2 Elect Director
3.3 Elect Director
3.4 Elect Director
3.5 Elect Director
3.6 Elect Director
3.7 Elect Director
3.8 Elect Director
4. Approve Retirement Bonus for
Director and Special Bonus for
Family of Deceased Director
VILLAGE VANGUARD CO (JPY) 29-Aug-05 AGM Vote For All Proposals 229
1. Approve Allocation of Income,
with No Dividends
2. Elect Director
SAINT MARC CO (JPY) 24-Nov-05 EGM Vote For All except 48,300
Vote Against 3
1. Amend Stock Option Plans
Approved at 2002-2004 AGMs to
Reflect Switch to Holding
Company Structure
2. Approve Formation of Holding
Company Through Share Transfer
3. Approve Special Payments to
Continuing Directos and Statutory
Auditor in Connection with
Abolition of Retirement Bonus System
MANI INC (JPY) 25-Nov-05 AGM Vote For All Propsoals 66,300
1. Amend Articles
2.1 Elect Director
2.2 Elect Director
2.3 Elect Director
2.4 Elect Director
2.5 Elect Director
Page 1 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3. Approve Executive Stock
Option Plan
4. Approve Retirement Bonuses
for Former Statutory Auditors
RECRM RESEARCH CO LTD (JPY) 25-Nov-05 AGM Vote For All Proposals 1,720
1. Approve Allocation of Income
2. Amend Articles
SANKO SOFLAN CO INC (JPY) 25-Nov-05 AGM Vote For All Proposals 138,000
1. Approve Allocation of Income
2. Amend Articles
3.1 Elect Director
3.2 Elect Director
3.3 Elect Director
3.4 Elect Director
3.5 Elect Director
3.6 Elect Director
4. Approve Retirement Bonus for
Director
5. Approve Executive Stock
Option Plan
CHIYODA INTEGRE CO (JPY) 29-Nov-05 AGM Vote For All Proposals 38,620
1. Approve Allocation of Income
2. Amend Articles
3.1 Elect Director
3.2 Elect Director
3.3 Elect Director
3.4 Elect Director
3.5 Elect Director
4. Approve Retirement Bonus for
Director and Special Bonus for
Family of Deceased Director
SHIMACHU CO (JPY) 29-Nov-05 AGM Vote For All Proposals 59,000
Page 2 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
1. Approve Allocation of Income
2. Amend Articles
3.1 Elect Director
3.2 Elect Director
3.3 Elect Director
3.4 Elect Director
3.5 Elect Director
3.6 Elect Director
HAMAMATSU PHOTONICS (JPY) 20-Dec-05 AGM Vote For All except 86,400
Vote Against 3
1. Approve the disposal of profit for
previous business term
2. Elect the Director(s)
3. Grant retirement gratuities to the
retiring Director(s)
HAMAMATSU PHOTONICS (JPY) 20-Dec-05 AGM Vote For All except 86,400
Vote Against 3
PLEASE NOTE THAT THIS IS AN
AMENDMENT TO MEETING ID 278232
DUE TO ADDITIONAL RESOLUTIONS.
ALL VOTES RECEIVED ON THE PREVIOUS
MEETING WILL BE DISREGARDED AND
YOU WILL NEED TO RE-INSTRUCT ON
THIS MEETING NOTICE. THANK YOU.
1. Approve the appropriation of
retained earnings
2.1 Elect Mr. Teruo Hiruma as a
Director
2.2 Elect Mr. Haruji Ootsuka as a
Director
2.3 Elect Mr. Kouei Yamamoto as a
Director
2.4 Elect Mr. Hideo Hiruma as a
Director
2.5 Elect Mr. Junichi Takeuchi as a
Director
2.6 Elect Mr. Yoshiji Suzuki as a
Director
2.7 Elect Mr. Yukiaki Suzuki as a
Director
2.8 Elect Mr. Hirofumi Uchiyama as a
Director
2.9 Elect Mr. Takashi Koike as a
Director
2.10 Elect Mr. Tetsuo Hattori as a
Director
3. Grant retirement allowances to
the retiring Directors Mr. Nobuyuki
Takashita and Mr. Hiroyuki Watanabe
Page 3 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
SEIJO CORP (JPY) 26-Dec-05 AGM Vote For All except 58,400
Vote Against 5
1. Approve Allocation of Income
2. Amend Articles
3.1 Elect Director
3.2 Elect Director
3.3 Elect Director
3.4 Elect Director
3.5 Elect Director
3.6 Elect Director
3.7 Elect Director
3.8 Elect Director
4. Appoint Internal Statutory
Auditor
5. Appoint Alternate Internal
Statutory Auditor
6. Approve Retirement Bonus for
Statutory Auditor
SEIJO CORP (JPY) 26-Dec-05 AGM Vote For All except 58,400
Vote Against 5
PLEASE NOTE THAT THIS IS AN AMENDMENT
TO MEETING ID 280601 DUE TO CHANGE IN
THE AGENDA. ALL VOTES RECEIVED ON THE
PREVIOUS MEETING WILL BE DISREGARDED
AND YOU WILL NEED TO REINSTRUCT ON
THIS MEETING NOTICE. THANK YOU.
1. Approve the appropriation of
retained earnings
2. Amend the Articles of
Incorporation
3.1 Elect Mr. M. Saito as a
Director
3.2 Elect Mr. A. Tsukamoto as a
Director
3.3 Elect Mr. M. Saito as a
Director
3.4 Elect Mr. K. Hashizume as a
Director
3.5 Elect Mr. Y. Suzuki as a
Director
3.6 Elect Mr. A. Arakawa as a
Director
3.7 Elect Mr. Y. Nagata as a
Director
3.8 Elect Mr. R. Wachi as a
Director
4. Elect S. Ochi as a Corporate
Auditor and N. Wada as a
Substitute Corporate Auditor
5. Grant retirement allowances to
the retiring Auditors
Page 4 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
RENTRAK JAPAN CO LTD (JPY) 18-Jan-06 EGM Vote For All Proposals 291,700
1. Approve the equity swap
Agreement with Culture
Convenience Club Company Ltd
2. Amend the Articles of
Incorporation
SANSEI FOODS CO (JPY) 26-Jan-06 AGM Vote For All Proposals 79,700
1. Approve Allocation of Income
2. Amend Articles
3. Elect Director
TEIKOKU OIL CO (JPY) 31-Jan-06 EGM Vote For the Proposal 252,000
1. Approve Formation of Parent
Holding Company with Inpex
NACHI-FUJIKOSHI CORP (JPY) 22-Feb-06 AGM Vote For All Proposals 750,000
1. Approve Allocation of Income
2. Approve Adjustment to Aggregate
Compensation Ceilings for
Directors and Statutory Auditors
JASTEC CO (JPY) 23-Feb-06 AGM Vote For All except 106,800
Vote Against 5, 6
1. Approve Allocation of Income
2. Amend Articles to: Authorize
Share Repurchases at Board's
Discretion
3.1 Elect Director
3.2 Elect Director
3.3 Elect Director
3.4 Elect Director
3.5 Elect Director
3.6 Elect Director
3.7 Elect Director
Page 5 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3.8 Elect Director
3.9 Elect Director
4. Appoint Internal Statutory
Auditor
5. Approve Executive Stock Option
Plan
6. Approve Retirement Bonuses for
Director and Statutory Auditor
FUNAI CONSULTING CO LTD 25-Mar-06 AGM Vote For All except 81,200
Vote Against 2, 6
1. Approve Allocation of Income
2. Amend Articles
3.1 Elect Director
3.2 Elect Director
3.3 Elect Director
3.4 Elect Director
3.5 Elect Director
3.6 Elect Director
4. Approve Executive Stock Option
Plan and Deep Discount Stock
Option Plan
5. Approve Adjustment to Aggregate
Compensation Ceiling for
Directors
6. Approve Retirement Bonus for
Director
7. Appoint External Auditors
JUPITER TELECOMMUNICATIONS CO LT 28-Mar-06 AGM Vote For All except 3,239
Vote Against 3
1. Approve Handling of Net Loss
2. Approve Reduction in Legal
Reserves
3. Amend Articles
4.1 Elect Director
4.2 Elect Director
4.3 Elect Director
4.4 Elect Director
4.5 Elect Director
4.6 Elect Director
4.7 Elect Director
Page 6 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
4.8 Elect Director
4.9 Elect Director
4.10 Elect Director
4.11 Elect Director
4.12 Elect Director
4.13 Elect Director
5. Appoint Internal Statutory Auditor
6. Approve Retirement Bonus for Director
7. Approve Special Payments to Continuing
Directors and Statutory Auditor in Connection
with Abolition of Retirement Bonus System
8. Approve Deep Discount Stock Option Plan
SHIZUOKAGAS CO LTD (JPY) 30-Mar-06 AGM Vote For All except 441,000
1. Approve Appropriation of Profits Vote Against 4
2. Amend the Articles of Incorporation
3.1 Elect a Director
3.2 Elect a Director
3.3 Elect a Director
3.4 Elect a Director
3.5 Elect a Director
3.6 Elect a Director
3.7 Elect a Director
3.8 Elect a Director
3.9 Elect a Director
3.10 Elect a Director
3.11 Elect a Director
3.12 Elect a Director
3.13 Elect a Director
3.14 Elect a Director
3.15 Elect a Director
4. Approve Provision of Retirement Allowance for
Directors
SPACE CO LTD (JPY) 30-Mar-06 AGM Vote For All 69,500
1. Approve Allocation of Income Proposals
Page 7 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
2. Amend Articles
TEIKOKU OIL CO (JPY) 30-Mar-06 AGM Vote For All except 193,000
1. Approve Allocation of Income Vote Against 4
2. Amend Articles
3.1 Elect Director
3.2 Elect Director
3.3 Elect Director
3.4 Elect Director
3.5 Elect Director
3.6 Elect Director
3.7 Elect Director
3.8 Elect Director
3.9 Elect Director
3.10 Elect Director
4. Approve Retirement Bonuses for Directors
ARC LAND SAKAMOTO CO LTD 11-May-06 AGM Vote For All except 55,000
(JPY) 1. Approve Allocation of Income Vote Against 2
2. Amend Articles
3.1 Elect Mr. Youji Sakamoto as a Director
3.2 Elect Mr. Katsuji Sakamoto as a Director
3.3 Elect Mr. Morizou Sakamoto as a Director
3.4 Elect Mr. Kiyoshi Takeda as a Director
3.5 Elect Mr. Masahito Horikawa as a Director
3.6 Elect Mr. Mitsuo Bamba as a Director
3.7 Elect Mr. Hideki Oguma as a Director
3.8 Elect Mr. Minoru Wakahoi as a Director
3.9 Elect Mr. Takehiko Komagata as a Director
KIRINDO CO LTD (JPY) 12-May-06 AGM Vote For All 114,300
1. Approve Appropriation of Profits Proposals
2. Amend Articles
3. Approve Revision to Remuneration for
Directors
Page 8 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
TAKIHYO CO LTD (JPY) 24-May-06 AGM Vote For All except 500
Vote Against 4
1. Approve Appropriation of Profits
2. Amend Articles
3. Appoint a Director
4. Approve Provision of Retirement Allowance
for Directors
HIDAY HIDAKA CORP (JPY) 26-May-06 AGM Vote For All except 60,600
Vote Against 2
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
4. Amend the Compensation to be Received
by Director and Corporate Auditors
YOSHINOYA D&C CO (JPY) 26-May-06 AGM Vote For All 904
Proposals
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
4.1 Appoint a Corporate Auditor
OZEKI CO LTD (JPY) 30-May-06 AGM Vote For All except 119,100
Vote Against 4
Page 9 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
4. Approve Provision of Retirement
Allowance for Directors
SHIBAURA MECHATRONICS 15-Jun-06 AGM Vote For All except 223,000
CORP (JPY) Vote Against 2
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
3.11 Appoint a Director
3.12 Appoint a Director
4. Approve Retirement Benefits to Director
ARIAKE JAPAN CO (JPY) 16-Jun-06 AGM Vote For All except 83
Vote Against 1
1. Approve Appropriation of Profits
2. Amend Articles
3. Amend the Compensation to be Received
by Corporate Officers
MIRAI CO LTD (JPY) 19-Jun-06 AGM Vote For All except 274,700
Vote Against 5
1. Approve Appropriation of Profits
2. Amend Articles
3. Approve Merger Agreement with
Mirai Kogya
Page 10 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
4.1 Appoint a Director
4.2 Appoint a Director
4.3 Appoint a Director
4.4 Appoint a Director
4.5 Appoint a Director
4.6 Appoint a Director
5. Approve Retirement Benefits to Directors
and Auditors
MAKINO MILLING MACHINE 20-Jun-06 AGM Vote For All 844,000
CO (JPY) Proposals
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
4. Amend the Compensation to be Received
by Corporate Officers
SANYO DENKI CO (JPY) 21-Jun-06 AGM Vote For All except 196,000
Vote Against 4
1. Approve Appropriation of Profits
2. Amend Articles
3. Appoint a Corporate Auditor
4. Approve Provision of Retirement Allowance
for Corporate Auditors
ARGO GRAPHICS INC. (JPY) 22-Jun-06 AGM Vote For All 92,600
Proposals
1. Approve Appropriation of Profits
2. Amend Articles
Page 11 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3. Appoint a Supplementary Auditor
KOEI CO. (JPY) 22-Jun-06 AGM Vote For All 155,430
Proposals
1. Approve Appropriation of Profits
2. Approve the partial amendments to the
Company's Articles of Incorporation as
specified
3. Approve to give free share subscription
rights to the Directors of the Company as
the stock compensation up to JPY 40,000,000
a year
4. Approve to delegate to the Board of Directors
the determination of the guideline for the
assignment of free share subscription rights
to the Directors and the employees of the
Company and to its subsidiaries as the Stock
Option
KOEI CO. (JPY) 22-Jun-06 AGM Vote For All 155,430
Proposals
1. Approve Appropriation of Profits
2. Amend Articles
3. Authorize Use of Stock Options for Directors
4. Allow Board to Authorize Use of Stock Options
MUSASHI SEIMITSU IND CO 22-Jun-06 AGM Vote For All except 325,800
(JPY) Vote Against 5
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
3.11 Appoint a Director
Page 12 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3.12 Appoint a Director
4. Approve Payment of Bonuses to
Directors and Corporate
Auditors
5. Approve Provision of Retirement
Allowance for Directors
SEIREN CO LTD (JPY) 22-Jun-06 AGM Vote For All except 39,000
Vote Against 2
1. Approve Appropriation of Profits
2. Amend Articles
3. Appoint a Corporate Auditor
DTS CORP (JPY) 23-Jun-06 AGM Vote For All except 60,000
Vote Against 6
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
4. Appoint a Corporate Auditor
5. Approve Provision of Retirement
Allowance for Directors
6. Approve Anti-Takeover Defense
Measures
HITACHI HIGH-TECH CORP 23-Jun-06 AGM Vote For All except 178,700
(JPY) Vote Against 1
1. Amend Articles
2.1 Appoint a Director
2.2 Appoint a Director
2.3 Appoint a Director
2.4 Appoint a Director
2.5 Appoint a Director
2.6 Appoint a Director
2.7 Appoint a Director
JOSHIN DENKI CO (JPY) 23-Jun-06 AGM Vote For All 297,000
Proposals
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
Page 13 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
3.11 Appoint a Director
KYOWA EXEO CORP (JPY) 23-Jun-06 AGM Vote For All except 147,000
Vote Against 2, 4
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
4. Approve Provision of Retirement
Allowance for Directors and
Outside Auditors
NET ONE SYSTEMS CO (JPY) 23-Jun-06 AGM Vote For All except 2,257
Vote Against 2
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
4. Appoint a Supplementary
Auditor
Page 14 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
NITTAN VALVE CO (JPY) 23-Jun-06 AGM Vote For All 473,000
Proposals
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
4. Amend the Compensation to be
Received by Directors
5. Amend the Compensation to be
Received by Corporate Auditors
6. Approve Final Payment
Associated with Abolition of
Retirement Benefit System for
Directors and Auditors
SANKEN ELEC CO (JPY) 23-Jun-06 AGM Vote For All 303,000
Proposals
1. Approve Appropriation of Profits
2. Amend Articles
3. Appoint a Director
4. Approve Provision of Retirement
Allowance for Directors and
Corporate Auditors
5. Amend the Compensation to be Received by
Corporate Officers
MATSUI SECS CO (JPY) 25-Jun-06 AGM Vote For All 344,100
Proposals
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
Page 15 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
4. Appoint a Corporate Auditor
5. Appoint a Supplementary Auditor
HITACHI CONST. MACHINERY 26-Jun-06 AGM Vote For All except 395,800
(JPY) Vote Against 1
1. Amend the Articles of
Incorporation
2.1 Elect a Director
2.2 Elect a Director
2.3 Elect a Director
2.4 Elect a Director
2.5 Elect a Director
2.6 Elect a Director
2.7 Elect a Director
2.8 Elect a Director
2.9 Elect a Director
3. Approve Issuance of Share
Acquisition Rights as Stock
Options to Directors,
Executive Officers, Employees
and Directors of Subsidiaries
NS TOOL CO (JPY) 26-Jun-06 AGM Vote For All except 7,300
Vote Against 2
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
Page 16 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
3.11 Appoint a Director
ADEKA CORP (JPY) 27-Jun-06 AGM Vote For All except 84,000
Vote Against 4
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
3.11 Appoint a Director
3.12 Appoint a Director
4. Approve Provision of Retirement
Allowance for Directors
ALPS LOGISTICS CO LTD 27-Jun-06 AGM Vote For All except 116,900
(JPY) Vote Against 7
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
4. Appoint a Supplementary
Corporate Auditor
5. Amend the Compensation to
be Received by Directors
6. Amend the Compensation to be
Received by Auditors
7. Approve Provision of Retirement
Allowance for Corporate Auditors
Page 17 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
IRISO ELECTRONICS CO 27-Jun-06 AGM Vote For All except 66,300
(JPY) Vote Against 1
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
4. Approve Provision of Retirement
Allowance for Directors
SAPPORO HOKUYO HLDGS INC 27-Jun-06 AGM Vote For All except 367
(JPY) Vote Against 4
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Elect a Director
3.2 Elect a Director
3.3 Elect a Director
3.4 Elect a Director
3.5 Elect a Director
3.6 Elect a Director
3.7 Elect a Director
3.8 Elect a Director
3.9 Elect a Director
3.10 Elect a Director
4. Approve Provision of Retirement
Allowance for Directors
YAOKO CO LTD (JPY) 27-Jun-06 AGM Vote For All 85,800
Proposals
1. Approve Appropriation of Profits
2. Amend Articles
3. Amend the Compensation to be
Received by Corporate Officers
CULTURE CONVENIENCE CLUB 28-Jun-06 AGM Vote For All except 343,800
(JPY) Vote Against 2
Page 18 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
3.11 Appoint a Director
4. Approve Non-Cash Compensation
to Directors
5. Authorize Use of Stock Options
for Directors
6. Authorize Use of Stock Options
DAINICHI CO LTD (JPY) 28-Jun-06 AGM Vote For All except 93,800
Vote Against 1, 4
1. Approve Appropriation of Profits
2. Amend Articles
3. Appoint a Corporate Auditor
4. Approve Provision of Retirement
Allowance for Directors and
Corporate Auditors
DAINIPPON SCREEN MFG 28-Jun-06 AGM Vote For All 406,000
(JPY) Proposals
1. Approve Appropriation of Profits
2. Amend Articles
3. Appoint a Director
4.1 Appoint a Corporate Auditor
4.2 Appoint a Corporate Auditor
5. Appoint a Supplementary Auditor
DOWA MINING CO (JPY) 28-Jun-06 AGM Vote For All 628,000
Proposals
1. Approve Appropriation of Profits
Page 19 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
2. Approve Corporate Demerger
3. Amend Articles
4. Amend Articles
5. Amend Articles
6.1 Appoint a Director
6.2 Appoint a Director
6.3 Appoint a Director
6.4 Appoint a Director
6.5 Appoint a Director
6.6 Appoint a Director
6.7 Appoint a Director
7.1 Appoint a Corporate Auditor
7.2 Appoint a Corporate Auditor
7.3 Appoint a Corporate Auditor
8. Appoint a Supplementary Auditor
9.1 Appoint Accounting Auditors
9.2 Appoint Accounting Auditors
10. Amend the Compensation to be Received by
Directors
11. Amend the Compensation to be
Received by Auditors
12. Approve Final Payment Associated
with Abolition of Retirement
Benefit System for Directors and
Auditors
HITACHI CABLE LTD (JPY) 28-Jun-06 AGM Vote For All 272,000
Proposals
1. Amend Articles
2.1 Appoint a Director
2.2 Appoint a Director
2.3 Appoint a Director
2.4 Appoint a Director
2.5 Appoint a Director
2.6 Appoint a Director
2.7 Appoint a Director
2.8 Appoint a Director
3. Appoint Accounting Auditors
KIMMON MFG CO LTD (JPY) 28-Jun-06 AGM Vote For All 1,186,000
Proposals
Page 20 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
1. Approve Handling of Net Loss
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
4.1 Appoint a Corporate Auditor
4.2 Appoint a Corporate Auditor
5. Amend the Compensation to be
Received by Directors
NICHIHA CORP. (JPY) 28-Jun-06 AGM Vote For All except 215,600
Vote Against 4
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
4. Approve Provision of Retirement
Allowance for Directors
SANOH INDUSTRIAL CO (JPY) 28-Jun-06 AGM Vote For All except 342,400
Vote Against 2, 5
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
4. Appoint a Corporate Auditor
5. Approve Retirement Benefits to
Directors
SINTOKOGIO LTD (JPY) 28-Jun-06 AGM Vote For All except 414,000
Vote Against 2
Page 21 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
4. Amend the Compensation to be
Received by Corporate Officers
TAIYO INK MFG CO (JPY) 28-Jun-06 AGM Vote For All Except 29,600
Vote Against 5
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
4. Appoint a Supplementary Auditor
5. Approve Provision of Retirement
Allowance for Corporate Auditors
6. Amend the Compensation to be
Received by Directors
VIC TOKAI CORP (JPY) 28-Jun-06 AGM Vote For All except 29,100
Vote Against 6
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
Page 22 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3.3 Appoint a Director
4.1 Appoint a Corporate Auditor
4.2 Appoint a Corporate Auditor
4.3 Appoint a Corporate Auditor
5. Appoint a Supplementary Auditor
6. Approve Provision of Retirement
Allowance for Directors and
Corporate Auditors
BANK OF FUKUOKA LTD (JPY) 29-Jun-06 AGM Vote For All except 408,000
Vote Against 6
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
4. Approve Provision of Retirement
Allowance for Directors
5. Approve Final Payment Associated
with Abolition of Retirement
Benefit System for Directors and
Auditors
6. Amend the Compensation to be
Received by Directors
BUNKA SHUTTER CO (JPY) 29-Jun-06 AGM Vote For All except 22,000
Vote Against 3, 4
1. Approve Appropriation of Profits
2. Amend Articles
3. Approve Final Payment Associated
with Abolition of Retirement
Benefit System for Directors
4. Amend the Compensation to be
Received by Corporate Officers
Page 23 of 42
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
DAIBIRU CORP (JPY) 29-Jun-06 AGM Vote For All except 423,800
Vote Against 5
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
4. Appoint a Corporate Auditor
5. Approve Provision of Retirement
Allowance for Directors and
Corporate Auditors
DAIKOKU DENKI CO (JPY) 29-Jun-06 AGM Vote For All except 102,900
Vote Against 2
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
3.11 Appoint a Director
DAIMEI TELECOM ENG CORP 29-Jun-06 AGM Vote For All except 296,000
(JPY) Vote Against 6
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
Page 24 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
4.1 Appoint a Corporate Auditor
4.2 Appoint a Corporate Auditor
4.3 Appoint 1 Supplementary Auditor
5. Approve Retirement Benefits to
Directors and Auditors
6. Amend the Compensation to be
Received by Corporate Auditors
DOUTOR COFFEE CO (JPY) 29-Jun-06 AGM For All except Vote 208,400
Against 4
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
4. Approve Provision of
Retirement Allowance for
Directors
HUMAN HLDGS CO (2415) 29-Jun-06 AGM Vote For All Proposals 193
1. Approve Appropriation of
Profits
2. Amend Articles
3. Appoint a Supplementary Auditor
4. Approve Provision of Retirement
Allowance for Directors
IINO KAIUN KAISHA LTD (JPY) 29-Jun-06 AGM Vote For All except 166,800
Vote Against 6
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
Page 25 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3.4 Appoint a Director
3.5 Appoint a Director
4.1 Appoint a Corporate Auditor
4.2 Appoint a Corporate Auditor
5. Appoint a Supplementary Auditor
6. Approve Final Payment Associated
with Abolition of Retirement
Benefit System for Directors
and Auditors
7. Amend the Compensation to be
Received by Directors
8. Amend the Compensation to be
Received by Auditors
9. Approve Adoption of Takeover
Defense Measures
IWAI SECURITIES CO (JPY) 29-Jun-06 AGM Vote For All except 81,500
Vote Against 2, 6, 7
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
4. Appoint a Corporate Auditor
5.1 Appoint a Supplementary Auditor
5.2 Appoint a Supplementary Auditor
6. Approve Provision of Retirement
Allowance for Directors and
Corporate Auditors
7. Approve Final Payment Associated
with Abolition of Retirement
Benefit System for Directors
and Auditors
8. Amend the Compensation to be
Received by Corporate Officers
KANTO DENKA KOGYO CO (JPY) 29-Jun-06 AGM Vote For All Proposals 256,000
1. Approve Appropriation of Profits
2. Amend Articles
Page 26 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3. Adopt Take Over Defense Measure
by Shareholders Meeting
Resolution
4.1 Appoint a Director
4.2 Appoint a Director
4.3 Appoint a Director
4.4 Appoint a Director
4.5 Appoint a Director
4.6 Appoint a Director
4.7 Appoint a Director
4.8 Appoint a Director
4.9 Appoint a Director
4.10 Appoint a Director
4.11 Appoint a Director
5. Appoint a Supplementary Auditor
KATO WORKS CO (JPY) 29-Jun-06 AGM Vote For All except 443,000
Vote Against 4
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
4. Approve Provision of Retirement
Allowance for Directors
KEISEI ELECTRIC RAILWAY (JPY) 29-Jun-06 AGM Vote For All Proposals 447,000
1. Approve Appropriation of Profits
2. Amend the Articles of Incorporation
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
Page 27 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
3.11 Appoint a Director
3.12 Appoint a Director
3.13 Appoint a Director
3.14 Appoint a Director
3.15 Appoint a Director
4. Appoint a Corporate Auditor
5. Amend the Compensation to be
Received by Corporate Auditors
KINKI SHARYO CO (JPY) 29-Jun-06 AGM Vote For All except 412,000
Vote Against 2
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
4. Appoint a Supplementary
Auditor
KOATSU GAS KOGYO CO (JPY) 29-Jun-06 AGM Vote For All except 292,000
Vote Against 4
1. Approve Appropriation of
Profits
2. Amend Articles
3. Appoint a Corporate Auditor
4. Approve Provision of Retirement
Allowance for Corporate Auditors
Page 28 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
KONDOTEC INC (JPY) 29-Jun-06 AGM Vote For All Proposals 251,500
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
4. Appoint a Corporate Auditor
KURODA ELECTRIC CO (JPY) 29-Jun-06 AGM Vote For All Proposals 249,400
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
4. Appoint a Supplementary
Director
LEOPALACE21 CORP (JPY) 29-Jun-06 AGM Vote For All Proposals 263,900
1. Approve Appropriation of Profits
2. Amend Articles
3. Appoint a Director
MEIKO ELECTRONICS CO (JPY) 29-Jun-06 AGM Vote For All except 149,600
Vote Against 2, 6
1. Approve Appropriation of Profits
2. Amend Articles
Page 29 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
4. Appoint a Corporate Auditor
5. Amend the Compensation to be
Received by Directors
6. Approve Provision of Retirement
Allowance for Corporate
Auditors
MITSUBISHI MATERIALS CORP. (JPY) 29-Jun-06 AGM Vote For All except 652,000
Vote Against 2, 7
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
4.1 Appoint a Corporate Auditor
4.2 Appoint a Corporate Auditor
5. Appoint an Outside Supplementary
Auditor
6. Amend the Bonuses to be Received
by Directors
7. Approve Provision of Retirement
Allowance for Directors and
Corporate Auditors
NETUREN CO LTD 29-Jun-06 AGM Vote For All Proposals 275,900
1. Approve Appropriation of
Profits
2. Amend Articles
Page 30 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3. Appoint a Supplementary
Auditor
4. Approve Provision of
Retirement Allowance for
Corporate Auditors
NICHIAS CORP (JPY) 29-Jun-06 AGM Vote For All Proposals 555,000
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
4. Authorize Use of Stock Option
Plan for Directors
5. Authorize Use of Stock Option
Plan for Employees
NITTO KOGYO CORP (JPY) 29-Jun-06 AGM Vote For All Proposals 123,300
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
4. Appoint a Corporate Auditor
OBAYASHI CORP (JPY) 29-Jun-06 AGM Vote For All Proposals 137,000
Page 31 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
1. Approve Appropriation of
Profits
2. Amend Articles
RYODEN TRADING CO (JPY) 29-Jun-06 AGM Vote For All except 164,000
Vote Against 2, 6
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
3.11 Appoint a Director
3.12 Appoint a Director
3.13 Appoint a Director
3.14 Appoint a Director
4. Appoint a Corporate Auditor
5. Appoint a Supplementary Auditor
6. Approve Provision of Retirement
Allowance for Directors
SANYO SPECIAL STEEL (JPY) 29-Jun-06 AGM Vote For All except 347,000
Vote Against 2
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
Page 32 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3.9 Appoint a Director
3.10 Appoint a Director
3.11 Appoint a Director
3.12 Appoint a Director
3.13 Appoint a Director
4. Appoint a Corporate
Auditor
SEIKO CORP (JPY) 29-Jun-06 AGM Vote For All except 349,000
Vote Against 2
1. Approve Appropriation
of Profits
2. Amend Articles
SHIMADZU CORP (JPY) 29-Jun-06 AGM Vote For All except 284,000
Vote Against 5
1. Approve Appropriation
of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
4. Appoint a Supplementary
Auditor
5. Approve Provision of
Retirement Allowance for
Directors
SK KAKEN CO (JPY) 29-Jun-06 AGM Vote For All except 39,000
Vote Against 2
1. Approve Appropriation
of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
4. Appoint a Corporate Auditor
SMBC FRIEND SECS CO (JPY) 29-Jun-06 AGM Vote For All except 296,500
Vote Against 7
Page 33 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
1. Approve Appropriation of Profits
2. Approve Share-based Acquisition
by Parent Company Sumitomo Mitsui
Financial Group, Inc., and
becoming a Wholly-Owned Subsidiary
of that group
3. Amend Articles
4. Approve Revisions to Terms of
Outstanding Stock Options
5.1 Appoint a Director
5.2 Appoint a Director
5.3 Appoint a Director
5.4 Appoint a Director
5.5 Appoint a Director
5.6 Appoint a Director
5.7 Appoint a Director
5.8 Appoint a Director
5.9 Appoint a Director
5.10 Appoint a Director
5.11 Appoint a Director
5.12 Appoint a Director
6. Appoint a Corporate Auditor
7. Approve Provision of Retirement
Allowance for Directors and
Corporate Auditors
SOFTWARE RESEARCH ASSOC. (JPY) 29-Jun-06 AGM Vote For All except 156,800
Vote Against 3, 7
1. Approve Appropriation of
Profits
2. Approve Share Exchange Merger
with Major Shareholder RM
Business
3. Amend Articles
4. Authorize the Board to Issue
Stock Options to Directors, Senior
Executives and Employees of the
Company and Subsidiaries
5. Amend the Compensation to be
Received by Directors,
Including the use of
Stock Options
6.1 Appoint a Director
6.2 Appoint a Director
Page 34 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
6.3 Appoint a Director
6.4 Appoint a Director
6.5 Appoint a Director
6.6 Appoint a Director
7. Approve Provision of
Retirement
Allowance for Directors
SORUN CORP (JPY) 29-Jun-06 AGM Vote For All except 377,300
Vote Against 2
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
3.11 Appoint a Director
3.12 Appoint a Director
3.13 Appoint a Director
3.14 Appoint a Director
4.1 Appoint a Corporate Auditor
4.2 Appoint a Corporate Auditor
4.3 Appoint a Corporate Auditor
4.4 Appoint a Corporate Auditor
5. Approve Provision of Retirement
Allowance for Directors and
Auditors
6. Amend the Compensation to be
Received by Directors and
Auditors
SURUGA CORP (JPY) 29-Jun-06 AGM Vote For All Proposals 16,000
1. Approve Appropriation of
Profits
Page 35 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
4. Appoint a Supplementary
Auditor
TAIKISHA LTD (JPY) 29-Jun-06 AGM Vote For All Except 96,200
Vote Against 1,4
1. Approve Appropriation of
Profits
2. Amend Articles
3. Appoint a Corporate Auditor
4. Approve Retirement Benefits
to Auditors
TOHOKUSHINSHA FILM CORP (JPY) 29-Jun-06 AGM Vote For All Proposals 181,200
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
3.11 Appoint a Director
3.12 Appoint a Director
4. Appoint a Supplementary
Auditor
TOPCON CORP (JPY) 29-Jun-06 AGM Vote For All except 301,600
Vote Against 2, 6
1. Approve Appropriation of
Profits
2. Approve Payment of Bonuses to
Directors and Corporate Auditors
3. Amend Articles
Page 36 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
4.1 Appoint a Director
4.2 Appoint a Director
4.3 Appoint a Director
4.4 Appoint a Director
4.5 Appoint a Director
4.6 Appoint a Director
4.7 Appoint a Director
4.8 Appoint a Director
5.1 Appoint a Corporate Auditor
5.2 Appoint a Corporate Auditor
5.3 Appoint a Corporate Auditor
6. Approve Provision of Retirement
Allowance for Directors and
Corporate Auditors
TOPPAN FORMS CO (JPY) 29-Jun-06 AGM Vote For All except 219,000
Vote Against 4
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
3.11 Appoint a Director
3.12 Appoint a Director
3.13 Appoint a Director
3.14 Appoint a Director
4. Approve Final Payment Associated
with Abolition of Retirement
Benefit System for Directors
and Auditors
Page 37 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
5. Amend the Compensation to be
Received by Directors and
Auditors
6. Authorize Use of Stock Options
for Directors
7. Authorize Use of Stock Options
for Employees
TOYOBO LTD (JPY) 29-Jun-06 AGM Vote For All except 478,000
Vote Against 5
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
3.11 Appoint a Director
4. Appoint 1 Supplementary
Auditor
5. Approve Retirement Benefits
to Directors
TSUBAKI NAKASHIMA CO (JPY) 29-Jun-06 AGM Vote For All except 88,600
Vote Against 5
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
Page 38 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
4.1 Appoint a Corporate Auditor
4.2 Appoint a Corporate Auditor
5. Approve Retirement Benefits to
Directors and Auditors
UNIPRES CORP (JPY) 29-Jun-06 AGM Vote For All Proposals 288,900
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
4. Appoint a Corporate Auditor
5. Approve Provision of Retirement
Allowance for Directors and
Corporate Auditors
6. Amend the Compensation to be
Received by Corporate Officers
7. Allow Board to Authorize Use of
Stock Options
WORKMAN CO (JPY) 29-Jun-06 AGM Vote For All Proposals 80,700
1. Approve Appropriation of Profits
2. Amend Articles
3. Appoint a Supplementary Auditor
4. Amend the Compensation to be
Received by Directors
YAHAGI CONSTRUCT (JPY) 29-Jun-06 AGM Vote For All except 522,000
Vote Against 2
1. Approve Appropriation of
Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
Page 39 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
3.11 Appoint a Director
4. Appoint a Corporate Auditor
5. Approve Provision of Retirement
Allowance for Directors and
Corporate Auditors
6. Amend the Compensation to be
Received by Directors and
Auditors
YAMATAKE CORP (JPY) 29-Jun-06 AGM Vote For All Proposals 131,200
1. Approve Appropriation of
Profits
2. Amend the Articles of
Incorporation
3.1 Elect a Director
3.2 Elect a Director
3.3 Elect a Director
3.4 Elect a Director
3.5 Elect a Director
3.6 Elect a Director
3.7 Elect a Director
3.8 Elect a Director
4. Appoint a Corporate Auditor
5. Amend the Compensation to be
received by Directors
YAMAZEN CORP (JPY) 29-Jun-06 AGM Vote For All except 407,000
Vote Against 3, 8
1. Approve Appropriation of Profits
2. Approve Payment of Bonuses to
Directors and Corporate
Auditors
3. Amend Articles
Page 40 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
4.1 Appoint a Director
4.2 Appoint a Director
4.3 Appoint a Director
4.4 Appoint a Director
4.5 Appoint a Director
4.6 Appoint a Director
4.7 Appoint a Director
5. Appoint a Corporate Auditor
6. Appoint a Supplementary Auditor
7. Amend the Compensation to be
Received by Corporate Officers
8. Approve Provision of Retirement
Allowance for Directors and
Corporate Auditors
9. Appoint Accounting Auditors
YUASA TRADING CO LTD (JPY) 29-Jun-06 AGM Vote For All except 3,829,000
Vote Against 2, 5
1. Approve Appropriation of Profits
2. Amend Articles
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
3.4 Appoint a Director
3.5 Appoint a Director
3.6 Appoint a Director
3.7 Appoint a Director
3.8 Appoint a Director
3.9 Appoint a Director
3.10 Appoint a Director
4.1 Appoint a Corporate Auditor
5. Approve Provision of Retirement
Allowance for Directors
YUSEN AIR & SEA SERVICE CO (JPY) 29-Jun-06 AGM Vote For All except 86,000
Vote Against 1, 6
1. Approve Appropriation of Profits
2. Amend Articles
Page 41 of 42
NOMURA ASSET MANAGEMENT USA INC.
PROXY VOTING REPORT
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
JAPAN SMALLER CAP FUND (A/C# 6000426)
COMPANY NAME MEETING DATE DETAILS VOTE CAST SHARES
-----------------------------------------------------------------------------------------------------------------------------------
3.1 Appoint a Director
3.2 Appoint a Director
3.3 Appoint a Director
4.1 Appoint a Corporate Auditor
4.2 Appoint a Corporate Auditor
5. Appoint Independent Auditor
6. Approve Provision of Retirement
Allowance for Corporate Auditors
Page 41 of 42