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Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
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SCHEDULE 13D/A 0001510281 XXXXXXXX LIVE 7 Common Shares, $0.01 par value 10/13/2025 false 0000866095 00306J109 ABRDN JAPAN EQUITY FUND, INC. 1900 Market Street Philadelphia PA 19103 Saba Capital Management, L.P. (212) 542-4635 405 Lexington Avenue, 58th Floor Attention: Michael D'Angelo New York NY 10174 0001510281 N Saba Capital Management, L.P. OO N DE 0 0 0 0 0 N 0 PN IA 0001608233 N Boaz R. Weinstein OO N NY 0 0 0 0 0 N 0 OO Y Saba Capital Management GP, LLC OO N DE 0 0 0 0 0 N 0 OO Common Shares, $0.01 par value ABRDN JAPAN EQUITY FUND, INC. 1900 Market Street Philadelphia PA 19103 This Amendment No. 7 amends Items 5 and 7. This Schedule 13D/A is being jointly filed by: (i) Saba Capital Management, L.P., a Delaware limited partnership ("Saba Capital"); (ii) Saba Capital Management GP, LLC, a Delaware limited liability company ("Saba GP"); and (iii) Mr. Boaz R. Weinstein ("Mr. Weinstein"), (together, the "Reporting Persons"). Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. The filing of this statement should not be construed as an admission that any Reporting Person is, for the purposes of Sections 13 of the Securities Exchange Act of 1934, the beneficial owner of the Common Shares reported herein. The address of the business office of each of the Reporting Persons is 405 Lexington Avenue, 58th Floor, New York, New York 10174. The principal business of: (i) Saba Capital is to serve as investment manager to private and public investment funds and/or accounts, (ii) Saba GP is to serve as general partner of the Saba Capital and other affiliated entities, and (iii) Mr. Weinstein, an individual, is managing member of the general partner of Saba Capital and other affiliated entities. The Reporting Persons have not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). The Reporting Persons have not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was, or is subject to, a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws. Saba Capital is organized as a limited partnership under the laws of the State of Delaware. Saba GP is organized as a limited liability company under the laws of the State of Delaware. Mr. Weinstein is a citizen of the United States. See the Reporting Persons section of this Schedule 13D/A for the aggregate number of Common Shares and percentages of the Common Shares beneficially owned by each of the Reporting Persons. See the Reporting Persons section of this Schedule 13D/A for the number of Common Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition. The transactions in the Common Shares effected from the filing of the Schedule 13D/A on 9/17/25 to 10/13/25, the date of the event which required filing of this Schedule 13D/A, which were all in the open market, are set forth in Schedule A, and are incorporated herein by reference. The funds and accounts advised by Saba Capital have the right to receive the dividends and proceeds of sales from the Common Shares. Oct-13-2025 Exhibit 8 - Schedule A Saba Capital Management, L.P. /s/ Michael D'Angelo General Counsel 10/15/2025 Boaz R. Weinstein /s/ Michael D'Angelo Authorized Signatory 10/15/2025 Saba Capital Management GP, LLC /s/ Michael D'Angelo Attorney-in-fact* 10/15/2025 Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823