Japan Investment Grade Corporate Bond Yields (USD)
Fitted spot curve as of 2026-10-26
https://bondscovery.com/yield-curve/usd-corporate-japan
Japan Investment Grade Corporate Bond Yields (USD) as of 2026-10-26: 10Y at 5.93%, fitted curve 1M–40Y (4.55%–6.31%), 320 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.55% | — |
| 3M | 4.60% | 4.62% |
| 6M | 4.69% | 4.88% |
| 9M | 4.79% | 5.15% |
| 12M | 4.88% | 5.15% |
| 18M | 5.03% | 5.39% |
| 2Y | 5.13% | 5.55% |
| 3Y | 5.32% | 5.81% |
| 4Y | 5.49% | 6.13% |
| 5Y | 5.62% | 6.36% |
| 6Y | 5.73% | 6.49% |
| 7Y | 5.81% | 6.52% |
| 8Y | 5.87% | 6.49% |
| 9Y | 5.91% | 6.40% |
| 10Y | 5.93% | 6.30% |
| 15Y | 6.01% | 6.39% |
| 20Y | 6.19% | 7.37% |
| 25Y | 6.28% | 7.31% |
| 30Y | 6.31% | 6.80% |
| 40Y | 6.31% | 6.51% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 5.13% and the 10-year 5.93%, a 10Y−2Y spread of +80 bp — positively sloped — as of 2026-10-26. 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 | Latest2026-10-26 | 1m ago2026-09-25 | 2m ago2026-08-27 | 3m ago2026-07-28 | 4m ago2026-06-29 | 5m ago2026-05-29 | 6m ago2026-04-29 |
|---|---|---|---|---|---|---|---|
| 2Y | 5.13% | 5.27% | 4.71% | 4.81% | 4.62% | 4.56% | 4.41% |
| 10Y | 5.93% | 5.90% | 5.59% | 5.56% | 5.28% | 5.33% | 5.20% |
| 10Y − 2Y | +80 bp | +63 bp | +88 bp | +75 bp | +66 bp | +77 bp | +79 bp |
Bonds in this curve
A selection of 30 of the 375 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Renesas Electronics Corp | 4.98% | 2026-11-25 | 2.17% | US75972BAB71 |
| Renesas Electronics Corp | 4.75% | 2026-11-25 | 2.17% | USJ4881VAB39 |
| Smfg | 4.56% | 2027-01-11 | 3.45% | US86562MAN02 |
| Smfg | 4.44% | 2027-01-14 | 2.17% | US86562MCM01 |
| Honda | 4.76% | 2027-03-12 | 4.90% | US02665WFD83 |
| Honda | 4.66% | 2027-03-10 | 2.53% | US438127AB80 |
| Nomura | 4.97% | 2027-07-02 | 5.59% | US65535HBR93 |
| Orix | 4.91% | 2027-07-18 | 3.70% | US686330AJ06 |
| Toyota | 4.66% | 2027-09-20 | 4.55% | US89236TKJ33 |
| Mitsubishi HC Capital | 5.32% | 2028-01-23 | 5.30% | XS2971996843 |
| Norinchukin Bank | 5.23% | 2028-03-09 | 5.43% | USJ5901UCR17 |
| Smtb | 5.05% | 2028-03-09 | 5.50% | USJ7771YSA66 |
| Mitsubishi HC Capital | 5.40% | 2028-09-12 | 5.81% | USU6S68YAE81 |
| Smtb | 5.18% | 2028-09-14 | 5.55% | USJ7771YSP36 |
| Mitsubishi Corp | 5.19% | 2029-07-02 | 5.00% | USJ43830FH65 |
| Panasonic | 5.29% | 2029-07-19 | 3.11% | USJ6354YAQ73 |
| Japan Tobacco | 5.40% | 2030-06-15 | 5.25% | USJ27869BC95 |
| Softbank Group | 5.84% | 2030-07-09 | 4.70% | USJ75963DB15 |
| Terumo Corporation | 5.48% | 2031-04-28 | 4.49% | XS3327684414 |
| Mitsubishi HC Capital | 5.73% | 2031-07-21 | 5.20% | USU6S68YAK42 |
| Mitsubishi HC Capital | 5.81% | 2033-02-28 | 5.66% | USU6S68YAA69 |
| Smtb | 5.74% | 2034-03-07 | 5.35% | USJ7771YSY43 |
| Mitsubishi Corp | 5.60% | 2034-07-17 | 5.12% | USJ43830FJ22 |
| Softbank Group | 6.31% | 2035-07-09 | 5.33% | USJ75963DC97 |
| Sony | 5.71% | 2036-06-30 | 5.09% | US835699AC35 |
| Smfg | 6.04% | 2041-01-12 | 2.30% | US86562MCF59 |
| Takeda | 6.18% | 2044-07-05 | 5.65% | US874060BL90 |
| JTI | 6.44% | 2051-09-14 | 3.30% | XS2383492902 |
| Sekisui House | 6.94% | 2061-08-06 | 3.97% | US552676AV06 |
| Takeda | 6.30% | 2064-07-05 | 5.80% | US874060BN56 |