FRANKLIN TEMPLETON JAPAN FUND, N-18F1, 1995-11-13

FRANKLIN TEMPLETON JAPAN FUND
N-18F1, 1995-11-13

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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                  Form N-18F-1



                NOTIFICATION OF ELECTION PURSUANT TO RULE 18f-1
                    UNDER THE INVESTMENT COMPANY ACT OF 1940













                         FRANKLIN TEMPLETON JAPAN FUND
                            Exact name of Registrant



<PAGE>


                            NOTIFICATION OF ELECTION



                  The undersigned  registered open-end investment company hereby
notifies the Securities and Exchange  Commission that it elects to commit itself
to pay in cash all  redemptions  by a shareholder  of record as provided by Rule
18f-1 under the  Investment  Company  Act of 1940.  It is  understood  that this
election is  irrevocable  while such Rule is in effect unless the  Commission by
order upon application permits the withdrawal of this Notification of Election.



                                   SIGNATURE



                  Pursuant  to  the   requirements   of  Rule  18f-1  under  the
Investment  Company Act of 1940, the registrant has caused this  Notification of
Election  to be duly  executed  on its  behalf  in the  city of St.  Petersburg,
Florida on the 2nd day of November, 1995.



                        Signature:     FRANKLIN TEMPLETON JAPAN FUND
                                           (Name of Registrant)



                         By:    /s/THOMAS M. MISTELE
                                 Thomas M. Mistele
                                    Secretary