Japanese High Yield (BB–D) Corporate Bond Yields (JPY)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/jpy-corporate-bb-d
Japanese High Yield (BB–D) Corporate Bond Yields (JPY) as of 2026-07-27: 10Y at 3.22%, fitted curve 1M–25Y (1.87%–4.31%), 110 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 1.87% | — |
| 3M | 1.88% | 1.89% |
| 6M | 1.90% | 1.92% |
| 9M | 1.92% | 1.96% |
| 12M | 1.94% | 2.00% |
| 18M | 1.99% | 2.07% |
| 2Y | 2.03% | 2.18% |
| 3Y | 2.14% | 2.36% |
| 4Y | 2.26% | 2.63% |
| 5Y | 2.40% | 2.96% |
| 6Y | 2.55% | 3.31% |
| 7Y | 2.72% | 3.69% |
| 8Y | 2.88% | 4.07% |
| 9Y | 3.05% | 4.43% |
| 10Y | 3.22% | 4.74% |
| 15Y | 3.89% | 5.23% |
| 20Y | 4.20% | 5.15% |
| 25Y | 4.31% | 4.76% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 2.03% and the 10-year 3.22%, a 10Y−2Y spread of +119 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 | 2.03% | 2.02% | 2.07% | 2.03% | 2.02% | 1.87% |
| 10Y | 3.22% | 3.12% | 3.20% | 2.97% | 2.89% | 2.65% |
| 10Y − 2Y | +119 bp | +110 bp | +113 bp | +94 bp | +88 bp | +78 bp |
Bonds in this curve
A selection of 30 of the 110 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Topy Industries, Limited | 1.66% | 2026-09-02 | 0.28% | JP363020AM91 |
| Nissan Motor | 2.35% | 2026-09-18 | 0.58% | JP367340BM94 |
| Daio Paper Corporation | 1.60% | 2026-10-28 | 0.19% | JP344040AMA0 |
| Nidec Corporation | 2.08% | 2026-11-27 | 0.15% | JP373480CKB0 |
| Nissan Motor | 2.48% | 2026-12-18 | 0.37% | JP367340BMC0 |
| Central Japan International Airport CO., LTD. | 1.32% | 2027-02-22 | 0.30% | JP352480AH29 |
| Central Japan International Airport CO., LTD. | 1.24% | 2027-03-16 | 0.14% | JP352480AH37 |
| Nissan Motor | 2.77% | 2027-03-19 | 0.70% | JP367340AQ34 |
| Rakuten Group, INC. | 2.52% | 2027-06-25 | 0.42% | JP396720DH64 |
| Heiwa Real Estate Reit, INC. | 2.06% | 2027-06-30 | 0.65% | JP304622BH69 |
| Kyushu Railway Company | 1.61% | 2027-11-25 | 0.34% | JP324701BNB5 |
| Topy Industries, Limited | 2.02% | 2027-12-01 | 0.51% | JP363020AHC4 |
| Heiwa Real Estate Reit, INC. | 2.29% | 2028-05-02 | 0.70% | JP304622AJ50 |
| Cosmo Energy Holdings Company, Limited | 1.89% | 2028-05-08 | 0.54% | JP329800AP53 |
| Central Japan International Airport CO., LTD. | 1.83% | 2029-02-22 | 0.52% | JP352480AQ28 |
| Central Japan International Airport CO., LTD. | 1.83% | 2029-02-22 | 0.21% | JP352480BK23 |
| Healthcare & Medical Investment Corporation | 2.50% | 2030-01-30 | 0.78% | JP304791AL10 |
| Central Japan International Airport CO., LTD. | 2.04% | 2030-02-25 | 1.13% | JP352480AR27 |
| Central Japan International Airport CO., LTD. | 2.20% | 2031-02-25 | 1.83% | JP352480AS26 |
| Central Japan International Airport CO., LTD. | 2.23% | 2031-02-25 | 0.23% | JP352480BM21 |
| Central Japan International Airport CO., LTD. | 2.42% | 2032-02-25 | 0.32% | JP352480AN21 |
| Central Japan International Airport CO., LTD. | 2.30% | 2032-03-15 | 0.22% | JP352480AN39 |
| Central Japan International Airport CO., LTD. | 2.45% | 2033-03-17 | 0.70% | JP352480AP37 |
| Kyushu Railway Company | 2.71% | 2033-07-21 | 0.77% | JP324701AP70 |
| Central Japan International Airport CO., LTD. | 2.64% | 2034-03-21 | 0.79% | JP352480AQ36 |
| Central Japan International Airport CO., LTD. | 2.79% | 2035-03-16 | 1.50% | JP352480AR35 |
| Kyushu Railway Company | 3.14% | 2036-06-04 | 2.99% | JP324701AS69 |
| OJI Holdings Corporation | 3.70% | 2039-07-19 | 0.80% | JP317441BK73 |
| Kyushu Railway Company | 3.99% | 2044-08-01 | 2.08% | JP324701CQ85 |
| Kyushu Railway Company | 4.33% | 2049-03-05 | 0.93% | JP324701BK33 |