Japanese Corporate Bond Yields (JPY)
Fitted spot curve as of 2026-09-10
https://bondscovery.com/yield-curve/jpy-corporate
Japanese Corporate Bond Yields (JPY) as of 2026-09-10: 10Y at 3.43%, fitted curve 1M–40Y (1.54%–4.38%), 4117 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 1.54% | — |
| 3M | 1.58% | 1.61% |
| 6M | 1.67% | 1.77% |
| 9M | 1.78% | 2.12% |
| 12M | 1.89% | 2.12% |
| 18M | 2.05% | 2.38% |
| 2Y | 2.16% | 2.50% |
| 3Y | 2.35% | 2.76% |
| 4Y | 2.53% | 3.13% |
| 5Y | 2.69% | 3.44% |
| 6Y | 2.84% | 3.66% |
| 7Y | 2.97% | 3.89% |
| 8Y | 3.11% | 4.35% |
| 9Y | 3.28% | 4.89% |
| 10Y | 3.43% | 5.16% |
| 15Y | 3.93% | 5.42% |
| 20Y | 4.22% | 5.73% |
| 25Y | 4.35% | 5.45% |
| 30Y | 4.38% | 4.77% |
| 40Y | 4.36% | 4.29% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 2.16% and the 10-year 3.43%, a 10Y−2Y spread of +127 bp — positively sloped — as of 2026-09-10. The chart and table below track how they have moved.
Fitted 2Y and 10Y yields and their spread, sampled one build date per month. See all inverted curves today →
| Tenor | Latest2026-09-10 | 1m ago2026-08-11 | 2m ago2026-07-13 | 3m ago2026-06-12 | 4m ago2026-05-13 | 5m ago2026-04-13 | 6m ago2026-03-13 |
|---|---|---|---|---|---|---|---|
| 2Y | 2.16% | 1.92% | 1.75% | 1.73% | 1.71% | 1.73% | 1.57% |
| 10Y | 3.43% | 3.32% | 3.29% | 3.20% | 3.07% | 2.95% | 2.73% |
| 10Y − 2Y | +127 bp | +140 bp | +154 bp | +147 bp | +136 bp | +122 bp | +116 bp |
Yields by rating group
The same curve split by credit quality: 1652 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 2.90%, A+ to BBB- 2.49%, Speculative 2.96%.
Bonds in this curve
A selection of 30 of the 4117 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Japan Investment Corporation | 1.33% | 2026-09-30 | 0.41% | JP332833AQ99 |
| Daikin Industries, LTD. | 1.50% | 2026-09-30 | 0.21% | JP348180AG96 |
| Mitsui Sumitomo Insurance Company, Limited | 1.46% | 2026-11-13 | 0.19% | JP388820AMB0 |
| Gree, INC. | 2.24% | 2026-11-20 | 1.30% | JP327407APB3 |
| Mori Hills Reit Investment Corporation | 1.70% | 2027-01-29 | 0.49% | JP304647AH12 |
| Shoko Chukin Bank | 1.57% | 2027-01-27 | 0.13% | JP336220AN11 |
| Aeon Mall CO., LTD. | 1.92% | 2027-04-28 | 0.49% | JP313143AN48 |
| Obayashi Corporation | 1.68% | 2027-04-27 | 0.25% | JP319000AN47 |
| Shoko Chukin Bank | 1.79% | 2027-07-27 | 0.23% | JP336220AN78 |
| Shoko Chukin Bank | 1.79% | 2027-07-27 | 0.65% | JP336220BQ74 |
| Daicel Corporation | 2.05% | 2027-12-14 | 0.38% | JP348580CLC5 |
| THK CO., LTD. | 1.96% | 2027-12-14 | 0.54% | JP353925ANC4 |
| Orix Corporation | 2.16% | 2028-06-13 | 0.42% | JP320045BP64 |
| Orix Corporation | 2.15% | 2028-06-14 | 0.21% | JP320045CM66 |
| Japan Logistics Fund, INC. | 2.48% | 2029-03-12 | 1.62% | JP304623AE39 |
| KPP Group Holdings CO., LTD. | 2.71% | 2029-03-12 | 1.17% | JP329335AQ31 |
| Invincible Investment Corporation | 3.50% | 2030-03-13 | 0.85% | JP304619AL36 |
| Konoike Transport CO., LTD. | 2.54% | 2030-03-12 | 0.36% | JP328897BL37 |
| KYB Corporation | 2.80% | 2031-03-12 | 2.24% | JP322020AS34 |
| Inpex Corporation | 2.53% | 2031-03-14 | 0.30% | JP329446BM30 |
| Hikari Tsushin, INC. | 3.66% | 2032-03-12 | 2.60% | JP378342AR38 |
| Shizuoka GAS CO., LTD. | 2.89% | 2033-03-15 | 0.99% | JP335115AP35 |
| Tokyo GAS CO LTD | 2.86% | 2034-03-13 | 0.97% | JP357300BQ32 |
| Tokyu Corporation | 3.07% | 2035-03-12 | 1.78% | JP357420AR37 |
| Japan Prime Realty Investment Corporation | 3.50% | 2036-03-14 | 0.76% | JP304089AM36 |
| Fukuoka-Kitakyushu Expressway Public Corporation | 3.45% | 2039-03-15 | 0.50% | JP380390CK30 |
| The Kansai Electric Power Company, Incorporated | 4.13% | 2044-04-25 | 1.80% | JP322860BQ46 |
| East Japan Railway Company | 4.25% | 2049-03-19 | 0.78% | JP378360BK31 |
| Tohoku Electric Power Company, Incorporated | 4.57% | 2054-04-24 | 2.10% | JP360540BQ44 |
| Tokyo Metro CO., LTD. | 4.30% | 2061-10-14 | 1.05% | JP358390CMA8 |