Prospect Japan Fund Net Asset Value(s)

 
TIDMPJF 
 
THE PROSPECT JAPAN FUND LIMITED 
 (a closed-ended investment company incorporated in Guernsey with registration 
                                 number 28863) 
 
          FUND NAME                    NAV                 SEDOL             NAV DATE 
 
   The Prospect Japan Fund              $ 1.2102          B011QL4        7th July 2017 
           Limited 
 
Note: The Fund's NAV above includes a holding in Prospect Co. of Yen 270 
million stock acquisition rights ('SARs') (valued at par) and 6,706,000 
ordinary shares (valued at a price of Yen 69 per share) with 90 SARs having 
been converted, following the initial conversion date of 21 December 2015 and 
2.598 million ordinary shares arising sold. The SARs can be exercised into 
shares of Prospect Co. at a price of Yen 54 per Prospect Co. share at any time 
prior to the expiration date of 20 December 2020 pursuant to the terms of the 
Exercise Agreement between the Fund and Prospect Co. 
 
However, for information purposes only, if the SARs were to be 'fair valued' 
using the Black-Scholes-Merton model, in line with the annual financial 
statements, there would be an uplift of US$7,947,498.36 (31 December, 2016 
annual accounts: US$7,684,136) from the NAV based on retaining the SARs at cost 
for the same date, the exercise price remains unchanged." 
 
Top 10 Holdings 
 
Symbol    Security                    % of Total 
                                      Assets 
 
8563      THE DAITO BANK              26.31 % 
 
8562      FUKUSHIMA BANK              24.29% 
 
9313      MARUHACHI WAREHOUSE         9.95% 
 
8205      SHAKLEE GBL. GRP.           9.76% 
 
3528      PROSPECT CO                 5.76% 
 
8521      NAGANO BANK                 2.12% 
 
1921      TOMOE                       0.12% 
 
 
Date:   7th July 2017 
 
Enquiries: 
 
Limerick_FA_Team_7@ntrs.com 
 
 
 
END

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July 07, 2017 11:25 ET (15:25 GMT)

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