Japan Senior Unsecured Corporate Bond Yields (JPY)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/jpy-corporate-senior-unsecured-japan
Japan Senior Unsecured Corporate Bond Yields (JPY) as of 2026-07-27: 10Y at 3.31%, fitted curve 1M–40Y (1.33%–4.36%), 3465 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 1.33% | — |
| 3M | 1.38% | 1.41% |
| 6M | 1.46% | 1.53% |
| 9M | 1.54% | 1.69% |
| 12M | 1.61% | 1.83% |
| 18M | 1.74% | 1.99% |
| 2Y | 1.85% | 2.19% |
| 3Y | 2.07% | 2.51% |
| 4Y | 2.28% | 2.91% |
| 5Y | 2.48% | 3.29% |
| 6Y | 2.67% | 3.63% |
| 7Y | 2.85% | 3.93% |
| 8Y | 3.02% | 4.19% |
| 9Y | 3.17% | 4.41% |
| 10Y | 3.31% | 4.58% |
| 15Y | 3.83% | 4.88% |
| 20Y | 4.12% | 4.98% |
| 25Y | 4.26% | 4.84% |
| 30Y | 4.33% | 4.68% |
| 40Y | 4.36% | 4.44% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 1.85% and the 10-year 3.31%, a 10Y−2Y spread of +146 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 | 1.85% | 1.76% | 1.74% | 1.72% | 1.73% | 1.58% |
| 10Y | 3.31% | 3.17% | 3.21% | 3.00% | 2.91% | 2.67% |
| 10Y − 2Y | +146 bp | +140 bp | +147 bp | +128 bp | +119 bp | +109 bp |
Yields by rating group
The same curve split by credit quality: 1667 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 1.97%, A+ to BBB- 2.28%, Speculative 2.45%.
Bonds in this curve
A selection of 30 of the 3466 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Sumitomo Mitsui Financial Group INC | 1.38% | 2026-08-25 | 0.35% | JP340035AP81 |
| Daiwa Securities Group INC. | 1.43% | 2026-08-25 | 0.40% | JP350220AG86 |
| Isuzu Motors Limited | 1.26% | 2026-09-29 | 0.11% | JP313720AM99 |
| Daikin Industries, LTD. | 1.23% | 2026-09-30 | 0.21% | JP348180AG96 |
| 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 |
| Japan Exchange Group, INC. | 1.44% | 2027-03-16 | 0.35% | JP318320AHF7 |
| Credit Saison CO LTD | 1.50% | 2027-03-15 | 0.24% | JP327140AM34 |
| Nippon Prologis Reit INC | 1.76% | 2027-06-15 | 0.50% | JP304755CH67 |
| Okamura Corporation | 1.62% | 2027-06-16 | 0.39% | JP319240AN62 |
| 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 |
| Credit Saison CO LTD | 2.04% | 2029-01-31 | 0.48% | JP327140AK10 |
| Healthcare & Medical Investment Corporation | 2.50% | 2030-01-30 | 0.78% | JP304791AL10 |
| Credit Saison CO LTD | 2.23% | 2030-01-30 | 1.21% | JP327140BR12 |
| Credit Saison CO LTD | 2.43% | 2031-01-30 | 2.04% | JP327140BS11 |
| Softbank Group Corp | 2.69% | 2031-01-31 | 1.24% | JP373200AQ15 |
| Sotetsu Holdings, INC. | 2.57% | 2032-01-30 | 0.70% | JP331640AH12 |
| Keio Corporation | 2.62% | 2033-02-02 | 1.00% | JP327780AP28 |
| East Japan Railway Company | 2.77% | 2034-01-30 | 1.62% | JP378360CE12 |
| East Japan Railway Company | 2.92% | 2035-01-29 | 0.98% | JP378360CF11 |
| Hikari Tsushin, INC. | 4.65% | 2036-02-01 | 1.38% | JP378342CM23 |
| Keisei Electric Railway CO., LTD. | 3.59% | 2039-03-08 | 0.79% | JP327860AK34 |
| East Japan Railway Company | 3.88% | 2044-01-29 | 1.98% | JP378360DE11 |
| Kyushu Railway Company | 4.33% | 2049-03-05 | 0.93% | JP324701BK33 |
| Osaka GAS CO., LTD. | 4.48% | 2054-05-29 | 2.37% | JP318040CQ53 |
| East Japan Railway Company | 4.36% | 2061-12-16 | 0.99% | JP378360CMC3 |