Japanese A–BBB Non-Callable Corporate Bond Yields (JPY)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/jpy-corporate-a-bbb-non-callable
Japanese A–BBB Non-Callable Corporate Bond Yields (JPY) as of 2026-07-27: 10Y at 3.34%, fitted curve 1M–40Y (1.35%–4.34%), 1785 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 1.35% | — |
| 3M | 1.39% | 1.41% |
| 6M | 1.45% | 1.51% |
| 9M | 1.51% | 1.64% |
| 12M | 1.58% | 1.76% |
| 18M | 1.70% | 1.95% |
| 2Y | 1.82% | 2.19% |
| 3Y | 2.05% | 2.52% |
| 4Y | 2.27% | 2.90% |
| 5Y | 2.47% | 3.29% |
| 6Y | 2.66% | 3.61% |
| 7Y | 2.82% | 3.82% |
| 8Y | 2.98% | 4.11% |
| 9Y | 3.16% | 4.59% |
| 10Y | 3.34% | 4.93% |
| 15Y | 3.89% | 5.00% |
| 20Y | 4.16% | 4.97% |
| 25Y | 4.29% | 4.80% |
| 30Y | 4.34% | 4.63% |
| 40Y | 4.32% | 4.24% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 1.82% and the 10-year 3.34%, a 10Y−2Y spread of +151 bp — positively sloped — as of 2026-07-27. 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 | Latest2026-07-27 | 1m ago2026-06-26 | 2m ago2026-05-28 | 3m ago2026-04-28 | 4m ago2026-03-30 | 5m ago2026-02-27 |
|---|---|---|---|---|---|---|
| 2Y | 1.82% | 1.70% | 1.70% | 1.68% | 1.69% | 1.53% |
| 10Y | 3.34% | 3.14% | 3.18% | 2.97% | 2.89% | 2.65% |
| 10Y − 2Y | +151 bp | +144 bp | +148 bp | +130 bp | +120 bp | +112 bp |
Bonds in this curve
A selection of 30 of the 1785 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Sumitomo Mitsui Financial Group INC | 1.38% | 2026-08-25 | 0.35% | JP340035AP81 |
| Daiwa Securities Group INC. | 1.43% | 2026-08-25 | 0.40% | JP350220AG86 |
| Isuzu Motors Limited | 1.26% | 2026-09-29 | 0.11% | JP313720AM99 |
| CLP Power Hong Kong Financing Limited | 1.29% | 2026-10-13 | 2.50% | XS0683069818 |
| Aeon Mall CO., LTD. | 1.53% | 2026-12-14 | 0.48% | JP313143APC8 |
| Sumitomo Mitsui Financial Group INC | 1.36% | 2026-12-16 | 0.20% | JP340060AMC8 |
| Resona Bank, Limited | 1.88% | 2027-03-15 | 2.46% | JP350060BC33 |
| Development Bank of Japan | 1.24% | 2027-03-15 | 0.14% | JP372155AH39 |
| Orix Corporation | 1.57% | 2027-06-15 | 0.35% | JP320045BN66 |
| Tokyo GAS CO LTD | 1.46% | 2027-06-15 | 2.29% | JP357300A769 |
| Sumitomo Mitsui Trust Bank | 1.64% | 2027-11-05 | 0.45% | JP340500ANB3 |
| Nomura Holdings INC | 1.82% | 2027-11-16 | 0.59% | JP304811AHB0 |
| Mitsui Fudosan CO., LTD. | 1.75% | 2028-05-02 | 0.30% | JP389320AJ56 |
| United Urban Investment Corporation | 1.91% | 2028-05-19 | 1.17% | JP304554AR52 |
| Sumitomo Corporation (Sumitomo Shoji Kaisha, LTD.) | 1.96% | 2029-01-29 | 1.29% | JP340460BE12 |
| Mitsubishi HC Capital INC | 2.00% | 2029-01-31 | 0.33% | JP349980AN14 |
| Sumitomo Mitsui Financial Group INC | 2.20% | 2030-02-15 | 1.29% | JP340035AR22 |
| Sekisui House, Ltd. | 2.08% | 2030-02-14 | 1.21% | JP342060DR23 |
| Softbank Group Corp | 2.69% | 2031-01-31 | 1.24% | JP373200AQ15 |
| Hikari Tsushin, INC. | 3.10% | 2031-01-31 | 0.98% | JP378342BM24 |
| Activia Properties INC. | 2.77% | 2032-02-02 | 0.81% | JP304749CH25 |
| Japan Overseas Infrastructure Investment Corporation FOR Transport & Urban Development | 2.44% | 2033-02-15 | 0.69% | JP320545AP29 |
| East Japan Railway Company | 2.77% | 2034-01-30 | 1.62% | JP378360CE12 |
| East Japan Railway Company | 2.92% | 2035-01-29 | 0.98% | JP378360CF11 |
| Hikari Tsushin, INC. | 4.65% | 2036-02-01 | 1.38% | JP378342CM23 |
| Kyushu Electric Power Company, Incorporated | 3.75% | 2039-03-25 | 0.79% | JP324640BK37 |
| East Japan Railway Company | 3.88% | 2044-01-29 | 1.98% | JP378360DE11 |
| East Japan Railway Company | 4.27% | 2049-03-19 | 0.78% | JP378360BK31 |
| Osaka GAS CO., LTD. | 4.48% | 2054-05-29 | 2.37% | JP318040CQ53 |
| East Japan Railway Company | 4.36% | 2061-12-16 | 0.99% | JP378360CMC3 |