Japanese Non-Callable Banks Corporate Bond Yields (JPY)
Fitted spot curve as of 2026-09-11
https://bondscovery.com/yield-curve/jpy-corporate-banks-non-callable
Japanese Non-Callable Banks Corporate Bond Yields (JPY) as of 2026-09-11: 10Y at 3.20%, fitted curve 1M–40Y (1.48%–4.26%), 459 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 1.48% | — |
| 3M | 1.52% | 1.54% |
| 6M | 1.60% | 1.69% |
| 9M | 1.70% | 2.03% |
| 12M | 1.81% | 2.03% |
| 18M | 1.98% | 2.33% |
| 2Y | 2.09% | 2.45% |
| 3Y | 2.27% | 2.67% |
| 4Y | 2.43% | 2.93% |
| 5Y | 2.57% | 3.22% |
| 6Y | 2.72% | 3.53% |
| 7Y | 2.85% | 3.80% |
| 8Y | 2.98% | 4.02% |
| 9Y | 3.09% | 4.23% |
| 10Y | 3.20% | 4.44% |
| 15Y | 3.69% | 5.12% |
| 20Y | 4.01% | 5.62% |
| 25Y | 4.15% | 5.28% |
| 30Y | 4.22% | 5.01% |
| 40Y | 4.26% | 4.72% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 2.09% and the 10-year 3.20%, a 10Y−2Y spread of +111 bp — positively sloped — as of 2026-09-11. 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 | Latest2026-09-11 | 1m ago2026-08-12 | 2m ago2026-07-13 | 3m ago2026-06-12 | 4m ago2026-05-14 | 5m ago2026-04-14 | 6m ago2026-03-16 |
|---|---|---|---|---|---|---|---|
| 2Y | 2.09% | 1.90% | 1.71% | 1.67% | 1.66% | 1.66% | 1.54% |
| 10Y | 3.20% | 3.19% | 3.23% | 3.11% | 3.03% | 2.92% | 2.70% |
| 10Y − 2Y | +111 bp | +129 bp | +152 bp | +144 bp | +136 bp | +126 bp | +115 bp |
Bonds in this curve
A selection of 30 of the 459 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Sumitomo Mitsui Financial Group INC | 1.48% | 2026-10-16 | 0.22% | JP340060BKA4 |
| Development Bank of Japan | 1.38% | 2026-10-16 | 0.23% | JP372155APA4 |
| Shoko Chukin Bank | 1.48% | 2026-11-27 | 0.09% | JP336220AMB6 |
| Shoko Chukin Bank | 1.51% | 2026-11-27 | 0.41% | JP336220BPB7 |
| Development Bank of Japan | 1.40% | 2027-01-29 | 0.00% | JP372155DL14 |
| Shoko Chukin Bank | 1.60% | 2027-02-26 | 0.17% | JP336220AN29 |
| Shoko Chukin Bank | 1.69% | 2027-05-14 | 1.36% | JP336220CS55 |
| Shoko Chukin Bank | 1.71% | 2027-05-27 | 0.21% | JP336220AN52 |
| Nomura Holdings INC | 2.04% | 2027-08-10 | 0.43% | JP376260CH89 |
| Development Bank of Japan | 1.69% | 2027-08-20 | 0.79% | JP372155AR86 |
| Development Bank of Japan | 1.74% | 2027-12-15 | 0.15% | JP372155AHC7 |
| Shoko Chukin Bank | 1.95% | 2027-12-20 | 0.22% | JP336220CHC0 |
| Sumitomo Mitsui Financial Group INC | 2.15% | 2028-06-15 | 0.44% | JP340060BP62 |
| Shoko Chukin Bank | 2.11% | 2028-06-20 | 0.23% | JP336220CJ64 |
| Shoko Chukin Bank | 2.22% | 2029-03-19 | 0.20% | JP336220CK38 |
| Development Bank of Japan | 1.99% | 2029-03-19 | 0.10% | JP372155BK33 |
| Development Bank of Japan | 2.16% | 2030-03-18 | 0.00% | JP372155BL32 |
| Shoko Chukin Bank | 2.43% | 2030-03-19 | 0.23% | JP336220CL37 |
| Shoko Chukin Bank | 2.59% | 2031-03-20 | 0.31% | JP336220CM36 |
| Shoko Chukin Bank | 2.59% | 2031-03-27 | 2.06% | JP336220AS32 |
| Shoko Chukin Bank | 2.71% | 2032-03-19 | 0.40% | JP336220CN35 |
| Shoko Chukin Bank | 2.86% | 2033-03-18 | 0.66% | JP336220CP33 |
| Shoko Chukin Bank | 3.03% | 2034-03-17 | 1.24% | JP336220CQ32 |
| Shoko Chukin Bank | 3.19% | 2035-03-20 | 1.97% | JP336220CR31 |
| Development Bank of Japan | 3.01% | 2036-03-17 | 2.25% | JP372155BS35 |
| Development Bank of Japan | 3.47% | 2039-04-11 | 0.44% | JP372155DK49 |
| Development Bank of Japan | 3.90% | 2044-07-12 | 1.97% | JP372155BQ78 |
| Development Bank of Japan | 4.26% | 2049-06-18 | 0.46% | JP372155DKA9 |
| Development Bank of Japan | 4.33% | 2058-03-19 | 1.18% | JP372155AJ86 |
| Development Bank of Japan | 4.32% | 2062-03-17 | 1.20% | JP372155DN46 |