Japanese Secured Corporate Bond Yields (JPY)
Fitted spot curve as of 2026-09-10
https://bondscovery.com/yield-curve/jpy-corporate-secured
Japanese Secured Corporate Bond Yields (JPY) as of 2026-09-10: 10Y at 3.51%, fitted curve 1M–40Y (1.45%–4.44%), 672 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 1.45% | — |
| 3M | 1.50% | 1.53% |
| 6M | 1.61% | 1.73% |
| 9M | 1.74% | 2.10% |
| 12M | 1.85% | 2.10% |
| 18M | 2.01% | 2.34% |
| 2Y | 2.13% | 2.50% |
| 3Y | 2.32% | 2.75% |
| 4Y | 2.50% | 3.08% |
| 5Y | 2.68% | 3.48% |
| 6Y | 2.86% | 3.93% |
| 7Y | 3.05% | 4.32% |
| 8Y | 3.22% | 4.65% |
| 9Y | 3.37% | 4.92% |
| 10Y | 3.51% | 5.13% |
| 15Y | 3.99% | 5.43% |
| 20Y | 4.23% | 5.49% |
| 25Y | 4.44% | 6.23% |
| 30Y | 4.44% | 4.39% |
| 40Y | 4.34% | 3.67% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 2.13% and the 10-year 3.51%, a 10Y−2Y spread of +139 bp — positively sloped — as of 2026-09-10. 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 | Latest2026-09-10 | 1m ago2026-08-11 | 2m ago2026-07-13 | 3m ago2026-06-12 | 4m ago2026-05-13 | 5m ago2026-04-13 | 6m ago2026-03-13 |
|---|---|---|---|---|---|---|---|
| 2Y | 2.13% | 1.90% | 1.75% | 1.72% | 1.69% | 1.70% | 1.54% |
| 10Y | 3.51% | 3.40% | 3.37% | 3.26% | 3.16% | 3.04% | 2.76% |
| 10Y − 2Y | +139 bp | +150 bp | +162 bp | +155 bp | +146 bp | +134 bp | +122 bp |
Bonds in this curve
A selection of 30 of the 672 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Tepco Power Grid, Incorporated | 1.56% | 2026-10-08 | 0.64% | JP358581ALA8 |
| The Kansai Electric Power Company, Incorporated | 1.44% | 2026-10-23 | 0.33% | JP322860AGA9 |
| Shikoku Electric Power Company, Incorporated | 1.43% | 2026-11-25 | 0.26% | JP335080AGB7 |
| The Chugoku Electric Power Company, Incorporated | 1.48% | 2026-11-25 | 0.26% | JP352220AGB7 |
| Tokyo Metro CO., LTD. | 1.51% | 2027-01-29 | 0.22% | JP358390AH17 |
| Tepco Power Grid, Incorporated | 1.67% | 2027-01-27 | 0.68% | JP358581AL10 |
| The Kansai Electric Power Company, Incorporated | 1.71% | 2027-05-25 | 0.47% | JP322860AH55 |
| The Kansai Electric Power Company, Incorporated | 1.71% | 2027-05-25 | 0.39% | JP322860BN56 |
| Narita International Airport Corporation | 1.73% | 2027-08-10 | 0.26% | JP365190BN80 |
| Kyushu Electric Power Company, Incorporated | 1.82% | 2027-08-25 | 0.38% | JP324640AH82 |
| Tokyo Metro CO., LTD. | 1.89% | 2027-12-15 | 0.24% | JP358390AHC8 |
| Narita International Airport Corporation | 1.88% | 2027-12-17 | 0.25% | JP365190AHC3 |
| The Kansai Electric Power Company, Incorporated | 2.11% | 2028-06-20 | 0.44% | JP322860BJ60 |
| The Okinawa Electric Power Company, Incorporated | 2.08% | 2028-06-23 | 0.36% | JP319470AP61 |
| Fukuoka-Kitakyushu Expressway Public Corporation | 2.14% | 2029-03-19 | 0.18% | JP380390AK32 |
| Fukuoka-Kitakyushu Expressway Public Corporation | 2.14% | 2029-03-19 | 1.10% | JP380390BE39 |
| Tokyo Metro CO., LTD. | 2.33% | 2030-03-19 | 2.23% | JP358390BA47 |
| Fukuoka-Kitakyushu Expressway Public Corporation | 2.31% | 2030-03-19 | 0.83% | JP380390BF38 |
| Shoko Chukin Bank | 2.59% | 2031-03-20 | 0.31% | JP336220CM36 |
| Fukuoka-Kitakyushu Expressway Public Corporation | 2.43% | 2031-03-20 | 0.25% | JP380390AM30 |
| Japan Freight Railway Company | 2.62% | 2032-03-17 | 0.37% | JP369420AN36 |
| Fukuoka-Kitakyushu Expressway Public Corporation | 2.67% | 2033-03-18 | 0.40% | JP380390BJ34 |
| Fukuoka-Kitakyushu Expressway Public Corporation | 2.82% | 2034-03-15 | 0.38% | JP380390BK31 |
| Fukuoka-Kitakyushu Expressway Public Corporation | 2.96% | 2035-03-16 | 0.22% | JP380390BL30 |
| Fukuoka-Kitakyushu Expressway Public Corporation | 3.06% | 2036-03-21 | 0.44% | JP380390BM39 |
| Fukuoka-Kitakyushu Expressway Public Corporation | 3.45% | 2039-03-15 | 0.50% | JP380390CK30 |
| The Kansai Electric Power Company, Incorporated | 4.13% | 2044-04-25 | 1.80% | JP322860BQ46 |
| Shikoku Electric Power Company, Incorporated | 4.42% | 2049-06-25 | 0.94% | JP335080BK63 |
| Tohoku Electric Power Company, Incorporated | 4.57% | 2054-04-24 | 2.10% | JP360540BQ44 |
| Tokyo Metro CO., LTD. | 4.30% | 2061-10-14 | 1.05% | JP358390CMA8 |