JPMorgan Japan Small Cap Growth & Income PLC - London-based investment company focused on Japanese small caps - Says its net asset value per share at its March 31 year-end declines by 9.6% annually to 359.6 pence from 397.6p. The company underperforms its benchmark, with its total return negative 5.7% falling short of the positive 5.0% from the MSCI Japan Small Cap Index.

JPMorgan Small Cap says its four quarterly dividends for its year ended March 31 amounted to 14.2 pence per share, down 30% from 20.3p the year before.

Chair Alexa Henderson said: "Despite the persistently uncertain global investment climate, unsettling geopolitical tensions and the near-term volatility these continue to generate, the board shares the investment managers' conviction that the long term outlook for Japan's small cap companies remains positive."

Current stock price: 311.00 pence

12-month change: down 1.4%

By Will Neill, Alliance News reporter

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