Shigeru Shinohara

Korea Equity Fund, Inc. is a non-diversified, closed-end investment company. It seeks long-term capital appreciation through investments primarily in equity securities of Korean industries. The company was founded on September 7, 1993 and is headquartered in New York, NY.

Nomura Asset Management USA, Inc. (NAM-USA) is a registered investment advisor headquartered in New York City. The firm was founded in 1997 and is a wholly owned subsidiary of Nomura Asset Management Co., Ltd., which is wholly owned by Nomura Holdings, Inc. (TYO: 8604; NYSE: NMR) in Japan. NAM-USA offers discretionary investment management services to institutional clients such as corporate pension plans, US registered investment companies and non-US pooled investment vehicles.

Nomura Asset Management U.K. Ltd. (NAM-UK) is the Great Britain-based alternative investment management subsidiary of Nomura Asset Management Co., Ltd., which is owned by Nomura Holdings, Inc. (TYO: 8604; NYSE: NMR) in Japan. Headquartered in London, the firm was founded in 1984 as Nomura Investment Management Co., Ltd. NAM-UK manages funds for institutional clients worldwide, which includes government agencies, public and private pension funds, multinational corporations, insurance companies and financial institutions.

Japan Smaller Capitalization Fund, Inc. is a non-diversified closed-end management investment company. It invests in smaller capitalization Japanese equity securities traded on the Tokyo, Nagoya, and JASDAQ Stock Exchanges, the Mothers, Centrex Markets, and other indices. The company was founded on January 25, 1990 and is headquartered in New York, NY.

Nomura Corporate Research & Asset Management, Inc. (NCRAM) is a SEC-registered investment advisor and hedge fund manager headquartered in New York City. The firm was founded in 1991 as a subsidiary of Nomura Holding America, Inc., itself a subsidiary of Nomura Holding, Inc. (TYO: 8604, NYSE: NMR) in Japan. NCRAM provides both discretionary and non-discretionary investment management services to institutional investors in the US and globally.

Nomura Global Alpha LLC (NGA) is an independent hedge fund manager headquartered in New York City. The firm was founded in 2008 and is a wholly-owned subsidiary of Nomura Asset Management USA, Inc., ultimately held by Nomura Holdings, Inc. (TYO: 8604) in Japan. NGA provides investment advisory and investment management services primarily to institutional clients. The firm serves as investment manager to private funds and other collective vehicles (such as Japanese Investment Trusts).