Schroder Japan Trust plc - SJG

Revealing undiscovered potential in Japan

Enhanced Dividend and Discount Management Policy

Following an internal review and discussion with the Company's largest shareholders, the Board of Schroder Japan Trust plc announces an enhanced dividend policy to pay out 4% of average net asset value in each financial year as well as a new Conditional Tender Offer mechanism.

Why invest in SJG?

The Schroder Japan Trust plc aims to achieve long-term capital growth by investing in a diversified portfolio of 60-70 of the best quality but undervalued companies in Japan.

An investment in the Schroder Japan Trust is an investment in:

  • A fully unconstrained approach
  • Company-specific drivers for future growth
  • Keenly trained eyes on quality and valuation
  • And a highly experienced team with a wealth of resources both locally and globally

Key Information

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NEW: Interim Report & Accounts
Latest Factsheet
Kepler Research Note
Key Information Document
Morningstar Report

Annual Results 2023

On Thursday 12 October 2023, Fund Manager Masaki Taketsume presented the Trust's annual results for the year ended 31 July 2023.

Download presentation >


For further performance data please visit the London Stock Exchange Website

Source: Morningstar, net income reinvested, net of ongoing charges and portfolio costs and where applicable, performance fees, in GBP.

Ongoing charge (as at July 2023): 0.92%

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View portfolio holdings

Awards and ratings


Source: Morningstar as at July 2024

AJ Bell Investment Award for Schroder Japan Trust plc SJG

Source: AJ Bell, 2023

Awards logo for Investment Week Investment Company of the Year Awards 2023

Source: Awarded to Schroders by Investment Week, 2023

Citywire's investment trust manager ratings are three-year risk-adjusted measures of the movement in a trust’s net asset value (NAV). They are based on the ‘information ratio’, which is a measure of a fund manager’s skill against a benchmark.  The benchmarks are applied at the trust level, using month-end cum fair NAV. This methodology is consistent with our annual Citywire Investment Trust Awards and our established fund manager ratings.  For a fund manager to be considered, they need a 36-month track record. Each trust they manage also requires a 36-month track record, unless it aligns with a trust in the same sector and is assigned the same benchmark as an eligible trust.

Source: Citywire, 2024

In the media

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AIC: Big in Japan - where are you currently finding opportunities?
Kepler: Spotlight on SJG's enhanced dividend
Kepler article: Winds of change
Fidelity: Why have investors been buying Japan?
QuotedData Investment Companies Roundup
CNBC: Japan inflation to be powered by wage increases rather than input costs
Citywire: JPMorgan Cazenove adds biotech, Japan and hedge fund after 3i-propelled 2023

Corporate Governance

Find out more about the Company's Board, view key dates and keep up with regulatory news.

The Portfolio Manager

“Japan boasts the third largest economy in the world. Its companies are a hotbed of innovation yet they are often underappreciated by investors. Schroder Japan Trust seeks to unlock the value inherent in Japanese equities.”

Masaki Taketsume

Fund Manager, Japanese Equities


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Latest Half Year Report and Accounts
Latest Annual Report and Accounts
AGM Results 2023
Privacy policy
Schroders Annual Sustainability Report
Terms of Reference: Management Engagement Committee
Terms of Reference: Nomination Committee
Terms of Reference: Audit & Risk Committee
Financial Crime Policy


Annual Reports and Accounts

2022 / 2021  / 2020 2019 / 2018 / 2017 / 2016 / 2015 / 2014 / 2013 / 2012 / 2011 / 2010 / 2009

Half Year Report

2022 / 2021 / 2020 / 2019 / 2018 / 2017 / 2016 / 2015 / 2014 / 2013 / 2012 / 2011 / 2010 / 2009

AGM Results

2022 / 2021 / 2020 / 2019



Investing in Schroder Japan Trust plc

Non-Mainstream Pooled Investments (NMPI) Status

The Company currently conducts its affairs so that its shares can be recommended by IFAs to ordinary retail investors in accordance with the FCA's rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future. The Company's shares are excluded from the FCA's restrictions which apply to non-mainstream investment products because they are shares in an investment trust.

What are the risks?

  • Concentration risk: The company may be concentrated in a limited number of geographical regions, industry sectors, markets and/or individual positions. This may result in large changes in the value of the company, both up or down, which may adversely impact the performance of the company.

  • Currency risk: The company can be exposed to different currencies. Changes in foreign exchange rates could create losses.

  • Concentration risk: The fund may be concentrated in a limited number of geographical regions, industry sectors, markets and/or individual positions. This may result in large changes in the value of the fund, both up or down.

  • Currency risk: The fund may lose value as a result of movements in foreign exchange rates, otherwise known as currency rates.

  • Derivatives risk: Derivatives, which are financial instruments deriving their value from an underlying asset, may be used to manage the portfolio efficiently. The fund may also materially invest in derivatives including using short selling and leverage techniques with the aim of making a return. A derivative may not perform as expected, may create losses greater than the cost of the derivative and may result in losses to the fund.

  • Gearing risk: The company may borrow money to make further investments, this is known as gearing. Gearing will increase returns if the value of the investments purchased increase by more than the cost of borrowing, or reduce returns if they fail to do so. In falling markets, the whole of the value in that investment could be lost, which would result in losses to the fund.

  • Liquidity risk: In difficult market conditions, the fund may not be able to sell a security for full value or at all. This could affect performance and could cause the fund to defer or suspend redemptions of its shares, meaning investors may not be able to have immediate access to their holdings.

  • Operational risk: Operational processes, including those related to the safekeeping of assets, may fail. This may result in losses to the fund.

  • Performance risk: Investment objectives express an intended result but there is no guarantee that such a result will be achieved. Depending on market conditions and the macro economic environment, investment objectives may become more difficult to achieve.

  • Counterparty risk: The fund may have contractual agreements with counterparties. If a counterparty is unable to fulfil their obligations, the sum that they owe to the fund may be lost in part or in whole.

  • Market risk: The value of investments can go up and down and an investor may not get back the amount initially invested.