Japanese Industrials Corporate Bond Yields (JPY)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/jpy-corporate-industrials
Japanese Industrials Corporate Bond Yields (JPY) as of 2026-07-27: 10Y at 3.35%, fitted curve 1M–15Y (1.34%–3.92%), 386 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 1.34% | — |
| 3M | 1.38% | 1.40% |
| 6M | 1.45% | 1.53% |
| 9M | 1.53% | 1.68% |
| 12M | 1.60% | 1.81% |
| 18M | 1.72% | 1.97% |
| 2Y | 1.84% | 2.18% |
| 3Y | 2.06% | 2.50% |
| 4Y | 2.27% | 2.92% |
| 5Y | 2.48% | 3.31% |
| 6Y | 2.68% | 3.67% |
| 7Y | 2.86% | 3.99% |
| 8Y | 3.04% | 4.27% |
| 9Y | 3.20% | 4.50% |
| 10Y | 3.35% | 4.70% |
| 15Y | 3.92% | 5.06% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 1.84% and the 10-year 3.35%, 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 | 1.84% | 1.74% | 1.70% | 1.72% | 1.69% | 1.55% |
| 10Y | 3.35% | 3.18% | 3.26% | 3.03% | 2.94% | 2.73% |
| 10Y − 2Y | +151 bp | +144 bp | +156 bp | +131 bp | +125 bp | +118 bp |
Yields by rating group
The same curve split by credit quality: 158 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: A+ to BBB- 2.13%, Speculative 2.24%.
Bonds in this curve
A selection of 30 of the 386 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Nippon Sanso Holdings Corporation | 1.29% | 2026-08-31 | 0.33% | JP371160AP83 |
| Makino Milling Machine CO., LTD. | 1.44% | 2026-09-01 | 0.50% | JP386280AG95 |
| Isuzu Motors Limited | 1.26% | 2026-09-29 | 0.11% | JP313720AM99 |
| Daikin Industries, LTD. | 1.23% | 2026-09-30 | 0.21% | JP348180AG96 |
| Sanwa Holdings Corporation | 1.46% | 2026-12-16 | 0.37% | JP334440AGC2 |
| Shimizu Corporation | 1.31% | 2026-12-16 | 0.10% | JP335880AMC6 |
| Takasago Thermal Engineering CO., LTD. | 1.60% | 2027-04-21 | 0.49% | JP345520BH40 |
| Fujifilm Holdings Corporation | 1.39% | 2027-04-20 | 0.20% | JP381400BN42 |
| Okamura Corporation | 1.62% | 2027-06-16 | 0.39% | JP319240AN62 |
| Sanken Electric CO., LTD. | 2.13% | 2027-06-16 | 1.10% | JP332960AN63 |
| Hanwa CO., LTD. | 1.82% | 2027-11-02 | 0.60% | JP377780BNB5 |
| NGK Insulators, LTD. | 1.70% | 2027-11-24 | 0.30% | JP369520ANB7 |
| Nifco INC. | 1.95% | 2028-05-08 | 0.39% | JP375620BJ51 |
| Fuji Electric CO., LTD. | 1.79% | 2028-05-25 | 0.40% | JP382000AJ58 |
| Sumitomo Corporation (Sumitomo Shoji Kaisha, LTD.) | 1.96% | 2029-01-29 | 1.29% | JP340460BE12 |
| Kawasaki Heavy Industries, LTD. | 2.01% | 2029-02-28 | 0.74% | JP322420AQ24 |
| THK CO., LTD. | 2.11% | 2030-01-29 | 1.16% | JP353925AR10 |
| Sumitomo Corporation (Sumitomo Shoji Kaisha, LTD.) | 2.13% | 2030-02-20 | 1.23% | JP340460AR26 |
| Mitsubishi Materials Corporation | 2.46% | 2031-02-27 | 2.17% | JP390300BS23 |
| Konica Minolta, INC. | 2.88% | 2031-03-11 | 2.51% | JP330060AS38 |
| Shimizu Corporation | 2.58% | 2032-02-20 | 1.44% | JP335880AR28 |
| Kanematsu Corporation | 2.80% | 2032-02-27 | 1.84% | JP321710BR23 |
| NSK LTD. | 2.88% | 2033-03-07 | 1.15% | JP372080BP38 |
| Nippon Sanso Holdings Corporation | 2.76% | 2033-03-11 | 2.17% | JP371160BS30 |
| Sumitomo Corporation (Sumitomo Shoji Kaisha, LTD.) | 2.92% | 2034-02-27 | 1.02% | JP340460AQ27 |
| Inabata & CO., LTD. | 3.23% | 2034-06-05 | 1.77% | JP314600AQ64 |
| DAI Nippon Printing CO., LTD. | 3.12% | 2035-05-01 | 1.92% | JP349380AR57 |
| Fujifilm Holdings Corporation | 3.03% | 2035-06-12 | 1.84% | JP381400CR62 |
| Konica Minolta, INC. | 3.84% | 2036-03-11 | 3.24% | JP330060BS37 |
| Kawasaki Heavy Industries, LTD. | 3.87% | 2039-07-12 | 0.82% | JP322420BK78 |