Japan Smaller Capitalization Fund (Japan Smaller Capitalization Fund) Sloan Ratio % : 0.00% (As of Aug. 2023)

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What is Japan Smaller Capitalization Fund Sloan Ratio %?

Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.

Japan Smaller Capitalization Fund's Sloan Ratio for the quarter that ended in Aug. 2023 was 0.00%.

As of Aug. 2023, Japan Smaller Capitalization Fund has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.

Japan Smaller Capitalization Fund Sloan Ratio % Historical Data

The historical data trend for Japan Smaller Capitalization Fund's Sloan Ratio % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Japan Smaller Capitalization Fund Sloan Ratio % Chart

Japan Smaller Capitalization Fund Annual Data

Trend

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Sloan Ratio %

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Japan Smaller Capitalization Fund Semi-Annual Data
	Aug17	Feb18	Aug18	Feb19	Aug19	Feb20	Aug20	Feb21	Aug21	Feb22	Aug22	Feb23	Aug23
Sloan Ratio %	Get a 7-Day Free Trial								-	-	-	-	-

Competitive Comparison of Japan Smaller Capitalization Fund's Sloan Ratio %

For the Asset Management subindustry, Japan Smaller Capitalization Fund's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Japan Smaller Capitalization Fund's Sloan Ratio % Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Japan Smaller Capitalization Fund's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where Japan Smaller Capitalization Fund's Sloan Ratio % falls into.

Japan Smaller Capitalization Fund Sloan Ratio % Calculation

Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.

Japan Smaller Capitalization Fund's Sloan Ratio for the fiscal year that ended in Feb. 2023 is calculated as

Sloan Ratio	=	(Net Income (A: Feb. 2023 )	-	Cash Flow from Operations (A: Feb. 2023 )
	-	Cash Flow from Investing (A: Feb. 2023 ))	/	Total Assets (A: Feb. 2023 )
	=	(-23.39	-	0
	-	0)	/	231.035
	=	-10.12%

Japan Smaller Capitalization Fund's Sloan Ratio for the quarter that ended in Aug. 2023 is calculated as

Sloan Ratio	=	(Net Income (TTM)	-	Cash Flow from Operations (TTM))
	-	Cash Flow from Investing (TTM))	/	Total Assets (Q: Aug. 2023 )
	=	(41.747	-	0
	-	0)	/	254.458
	=	16.41%

For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data. Japan Smaller Capitalization Fund's Net Income for the trailing twelve months (TTM) ended in Aug. 2023 was 19.134 (Feb. 2023 ) + 22.613 (Aug. 2023 ) = $41.75 Mil.
Japan Smaller Capitalization Fund's Cash Flow from Operations for the trailing twelve months (TTM) ended in Aug. 2023 was 0 (Feb. 2023 ) + 0 (Aug. 2023 ) = $0.00 Mil.
Japan Smaller Capitalization Fund's Cash Flow from Investing for the trailing twelve months (TTM) ended in Aug. 2023 was 0 (Feb. 2023 ) + 0 (Aug. 2023 ) = $0.00 Mil.

Japan Smaller Capitalization Fund (NYSE:JOF) Sloan Ratio % Explanation

A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.

According to How to Beat the Market with the Sloan Ratio:

If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.

If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.

If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.

As of Aug. 2023, Japan Smaller Capitalization Fund has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.

Japan Smaller Capitalization Fund Sloan Ratio % Related Terms

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Japan Smaller Capitalization Fund (Japan Smaller Capitalization Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Japan Smaller Capitalization Fund Inc (NYSE:JOF) » Definitions » Sloan Ratio %

Comparable Companies

Traded in Other Exchanges

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Address

309 West 49th Street, Worldwide Plaza, New York, NY, USA, 10019

Website

https://funds.nomura-asset.com

Japan Smaller Capitalization Fund Inc is a United States-based non-diversified, closed-end management investment company. Its investment objective is to seek long-term capital appreciation through investments in smaller capitalization Japanese equity securities. Its portfolio of investments consists of different sectors such as banks, chemicals, construction, electric appliances, financing business, food, Information and Communication, Utilities, Real Estate, and others.

Executives

She Yi	officer: Assistant Treasurer	WORLDWIDE PLAZA, 309 WEST 49TH STREET, NEW YORK NY 10019
Rodney A Buck	director	WORLDWIDE PLAZA, 309 WEST 49TH STREET, NEW YORK NY 10019
Atsushi Katayama	other: Lead Portfolio Manager	WORLDWIDE PLAZA, 309 WEST 49TH STREET, NEW YORK NY 10019
Shinichi Masuda	officer: Vice President	WORLDWIDE PLAZA, 309 WEST 49TH STREET, NEW YORK NY 10019
Melanie Dana Malc	officer: Assistant Treasurer	WORLDWIDE PLAZA, 309 WEST 49TH STREET, NEW YORK NY 10019
Paige Ouimet	director	WORLDWIDE PLAZA, 309 WEST 49TH STREET, NEW YORK NY 10019
Michael Morronngiello	officer: Vice President	WORLDWIDE PLAZA, 309 WEST 49TH STREET, NEW YORK NY 10019
Hiroyasu Koike	other: CEO to the Adviser of JOF	WORLDWIDE PLAZA, 309 WEST 49TH STREET, NEW YORK NY 10019
Junko Nakagawa	other: CEO to the Adviser of JOF	WORLDWIDE PLAZA, 309 WEST 49TH STREET, NEW YORK NY 10019-7316
Yuichi Nomoto	director, officer: President	WORLDWIDE PLAZA, 309 WEST 49TH STREET, NEW YORK NY 10019-7316
Zheng Liu	officer: Vice President	WORLDWIDE PLAZA, 309 WEST 49TH STREET, NEW YORK NY 10019-7316
Takeshi Toyoshima	officer: Vice President	NOMURA ASSET MANAGEMENT USA INC., 309 WEST 49TH STREET, NEW YORK NY 10019
Lee Kelly So Young	officer: Assistant Treasurer	NOMURA ASSET MANAGEMENT USA INC., 309 WEST 49TH STREET, NEW YORK NY 10019
Marcia L Macharg	director	309 WEST 49TH STREET, NEW YORK NY 10019
Kunio Watanabe	other: CEO of Adviser of JOF	C/O NOMURA ASSET MANAGEMENT USA INC., 309 WEST 49TH STREET, NEW YORK NY 10019