Japanese Real Estate / Construction Corporate Bond Yields (JPY)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/jpy-corporate-real-estate-construction
Japanese Real Estate / Construction Corporate Bond Yields (JPY) as of 2026-07-27: 10Y at 3.46%, fitted curve 1M–30Y (1.43%–4.58%), 638 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 1.43% | — |
| 3M | 1.48% | 1.51% |
| 6M | 1.57% | 1.67% |
| 9M | 1.67% | 1.85% |
| 12M | 1.75% | 2.01% |
| 18M | 1.90% | 2.19% |
| 2Y | 2.03% | 2.40% |
| 3Y | 2.24% | 2.68% |
| 4Y | 2.43% | 3.01% |
| 5Y | 2.62% | 3.37% |
| 6Y | 2.81% | 3.75% |
| 7Y | 2.99% | 4.09% |
| 8Y | 3.16% | 4.37% |
| 9Y | 3.32% | 4.59% |
| 10Y | 3.46% | 4.77% |
| 15Y | 3.99% | 5.05% |
| 20Y | 4.27% | 5.13% |
| 25Y | 4.50% | 5.40% |
| 30Y | 4.58% | 5.00% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 2.03% and the 10-year 3.46%, a 10Y−2Y spread of +144 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% | 1.88% | 1.87% | 1.83% | 1.89% | 1.74% |
| 10Y | 3.46% | 3.24% | 3.33% | 3.14% | 3.01% | 2.78% |
| 10Y − 2Y | +144 bp | +136 bp | +145 bp | +131 bp | +112 bp | +104 bp |
Yields by rating group
The same curve split by credit quality: 142 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: A+ to BBB- 2.51%, Speculative 2.49%.
Bonds in this curve
A selection of 30 of the 638 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Mori Hills Reit Investment Corporation | 1.49% | 2026-08-28 | 0.34% | JP304647AG88 |
| Kenedix Residential Investment Corporation | 1.59% | 2026-08-28 | 0.54% | JP304748BG85 |
| Japan Investment Corporation | 1.11% | 2026-09-30 | 0.41% | JP332833AQ99 |
| Global ONE Real Estate Investment Corporation | 1.56% | 2026-10-16 | 0.47% | JP304452AGA7 |
| Japan Prime Realty Investment Corporation | 1.51% | 2026-12-14 | 2.90% | JP304089A6C0 |
| Aeon Mall CO., LTD. | 1.53% | 2026-12-14 | 0.48% | JP313143APC8 |
| Tokyo Tatemono CO., LTD. | 1.56% | 2027-03-19 | 0.52% | JP358260AH30 |
| Mitsubishi Estate Company Limited | 1.39% | 2027-03-19 | 2.31% | JP389960A762 |
| Nippon Prologis Reit INC | 1.76% | 2027-06-15 | 0.50% | JP304755CH67 |
| Sotetsu Holdings, INC. | 1.55% | 2027-06-15 | 0.36% | JP331640AN63 |
| Kenedix Retail Reit Corporation | 1.92% | 2027-10-29 | 0.50% | JP304790AN68 |
| Ichigo INC. | 2.60% | 2027-10-29 | 1.65% | JP312001AQA1 |
| Heiwa Real Estate Reit, INC. | 2.29% | 2028-05-02 | 0.70% | JP304622AJ50 |
| Mitsui Fudosan CO., LTD. | 1.75% | 2028-05-02 | 0.30% | JP389320AJ56 |
| Xymax Reit Investment Corporation | 2.41% | 2029-01-31 | 1.00% | JP304869AQ12 |
| Invincible Investment Corporation | 2.71% | 2029-02-09 | 1.47% | JP304619AQ23 |
| Sekisui House, Ltd. | 2.08% | 2030-02-14 | 1.21% | JP342060DR23 |
| Chuo-Nittochi Group CO., LTD. | 2.50% | 2030-02-14 | 1.65% | JP351760AR20 |
| Mitsui Fudosan CO., LTD. | 2.47% | 2031-02-12 | 0.50% | JP304830AM20 |
| Chuo-Nittochi Group CO., LTD. | 2.71% | 2031-02-13 | 2.35% | JP351760AS29 |
| Sotetsu Holdings, INC. | 2.57% | 2032-01-30 | 0.70% | JP331640AH12 |
| Activia Properties INC. | 2.77% | 2032-02-02 | 0.81% | JP304749CH25 |
| Hoshino Resorts Reit, INC. | 3.04% | 2033-02-25 | 2.52% | JP304761AS27 |
| Sumitomo Realty & Development CO., LTD. | 2.88% | 2034-02-06 | 0.98% | JP340900AQ25 |
| Sekisui House, Ltd. | 3.01% | 2035-02-14 | 1.61% | JP342060BR25 |
| Activia Properties INC. | 3.44% | 2036-02-08 | 0.75% | JP304749AM20 |
| Aeon Mall CO., LTD. | 4.18% | 2039-07-01 | 0.90% | JP313143DK71 |
| Tokyo Metropolitan Housing Supply Corporation | 3.91% | 2044-06-20 | 1.78% | JP358680AQ98 |
| Tokyo Metropolitan Housing Supply Corporation | 4.24% | 2049-06-18 | 0.64% | JP358680CK92 |
| Mitsubishi Estate Company Limited | 4.54% | 2056-06-27 | 0.79% | JP389960AG62 |