The Baillie Gifford Japan Trust PLC is a United Kingdom-based investment trust. The Company’s objective is to pursue long term capital growth principally through investment in medium to smaller sized Japanese companies. The Company’s holdings are generally listed in Japan although the portfolio can also include companies listed elsewhere whose business is predominantly in Japan, as well as unlisted companies. From time to time, fixed interest holdings, or non equity investments, may be held. It invests in various sectors, such as commerce and services, retail, electricals and electronics, pharmaceuticals and food, real estate and construction, financials, manufacturing and machinery, chemicals and other materials and information, communication and utilities. The Company’s investment manager is Baillie Gifford & Co.