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Franklin Japan Fund - Semi-Annual Comparison Franklin Templeton Investment Funds Franklin Japan Fund News Regional Portfolio Structure(Semi-Annual Comparison) Sectorial Portfolio Structure(Semi-Annual Comparison) REGIONAL PORTFOLIO Sorted By Difference in Number of Units Holdings(1 - 2) 30 Jun 2013 31 Dec 2012   Holding (Region) Value 000's (JPY) % of Fund Value 000's (JPY) % of Fund Diff Unit Trust 25 277 420 99.40 13 112 588 99.15 0.3 Cash 152 580 0.60 112 413 0.85 -0.3 TOTAL 25 430 000 100.00 13 225 000 100.00

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