Top 10 investments and holdings over 5%

Fidelity Japanese Values PLC

List of Top Ten Investments and all Holdings over 5% of Gross Assets at 30
September 2004, announced in accordance with Listing Rule 21.20 (l) (ii).

Security Description                                         % Gross Assets
                                                                           
KITZ CORP                                                               2.5
                                                                           
H.I.S.                                                                  2.5
                                                                           
OTSUKA                                                                  2.3
                                                                           
RYOHIN KEIKAKU                                                          2.2
                                                                           
DOSHISHA                                                                2.1
                                                                           
TOYO INK MANUFACTURING                                                  1.8
                                                                           
OZEKI                                                                   1.7
                                                                           
USS                                                                     1.7
                                                                           
HAMAKYOREX                                                              1.6
                                                                           
SHINKO ELECTRIC INDUSTRIES                                              1.6
                                                                           
TOTAL                                                                  20.0