Japanese High Yield (BB–D) Senior Unsecured Corporate Bond Yields (JPY)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/jpy-corporate-senior-unsecured-bb-d
Japanese High Yield (BB–D) Senior Unsecured Corporate Bond Yields (JPY) as of 2026-07-27: 10Y at 3.27%, fitted curve 1M–25Y (1.93%–4.31%), 89 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 1.93% | — |
| 3M | 1.94% | 1.95% |
| 6M | 1.96% | 1.98% |
| 9M | 1.98% | 2.03% |
| 12M | 2.01% | 2.07% |
| 18M | 2.05% | 2.15% |
| 2Y | 2.11% | 2.26% |
| 3Y | 2.22% | 2.45% |
| 4Y | 2.35% | 2.73% |
| 5Y | 2.49% | 3.05% |
| 6Y | 2.64% | 3.39% |
| 7Y | 2.79% | 3.74% |
| 8Y | 2.95% | 4.09% |
| 9Y | 3.11% | 4.41% |
| 10Y | 3.27% | 4.69% |
| 15Y | 3.89% | 5.14% |
| 20Y | 4.19% | 5.11% |
| 25Y | 4.31% | 4.77% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 2.11% and the 10-year 3.27%, a 10Y−2Y spread of +116 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 | 2.11% | 1.98% | 2.03% | 1.99% | 1.98% | 1.87% |
| 10Y | 3.27% | 3.12% | 3.15% | 2.96% | 2.89% | 2.64% |
| 10Y − 2Y | +116 bp | +114 bp | +112 bp | +97 bp | +91 bp | +77 bp |
Bonds in this curve
A selection of 30 of the 89 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 |
| Nissan Motor | 2.77% | 2027-03-19 | 0.70% | JP367340AQ34 |
| Kurita Water Industries LTD. | 1.55% | 2027-05-26 | 0.29% | JP327000AN57 |
| 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 |
| ARE Holdings, INC. | 2.18% | 2029-03-05 | 1.92% | JP311670AS30 |
| Kyushu Railway Company | 1.90% | 2029-03-07 | 0.29% | JP324701AK34 |
| Healthcare & Medical Investment Corporation | 2.50% | 2030-01-30 | 0.78% | JP304791AL10 |
| Kyushu Railway Company | 2.15% | 2030-06-07 | 0.29% | JP324701BL65 |
| OJI Holdings Corporation | 2.42% | 2031-03-24 | 0.37% | JP317441BM30 |
| Kyushu Railway Company | 2.33% | 2031-04-15 | 0.27% | JP324701AM40 |
| Jxtg Holdings, INC. | 2.67% | 2032-06-15 | 0.83% | JP338645AN63 |
| Kyushu Railway Company | 2.60% | 2032-11-25 | 0.65% | JP324701CNB3 |
| Kyushu Railway Company | 2.71% | 2033-07-21 | 0.77% | JP324701AP70 |
| Rakuten Group, INC. | 4.42% | 2033-12-02 | 1.30% | JP396720EMC2 |
| Mitsui O.S.K.Lines, LTD. | 3.06% | 2034-05-23 | 1.32% | JP336270BQ57 |
| Rakuten Group, INC. | 4.53% | 2034-06-23 | 0.90% | JP396720EK68 |
| Kyushu Railway Company | 3.04% | 2035-07-31 | 1.93% | JP324701BR77 |
| 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 |