Japan Corporate Bond Yields (USD)
Fitted spot curve as of 2026-09-10
https://bondscovery.com/yield-curve/usd-corporate-japan
Japan Corporate Bond Yields (USD) as of 2026-09-10: 10Y at 5.72%, fitted curve 1M–40Y (4.20%–6.24%), 365 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.20% | — |
| 3M | 4.38% | 4.47% |
| 6M | 4.58% | 4.89% |
| 9M | 4.71% | 5.04% |
| 12M | 4.78% | 5.04% |
| 18M | 4.87% | 5.14% |
| 2Y | 4.95% | 5.26% |
| 3Y | 5.09% | 5.48% |
| 4Y | 5.23% | 5.76% |
| 5Y | 5.35% | 6.00% |
| 6Y | 5.46% | 6.19% |
| 7Y | 5.55% | 6.32% |
| 8Y | 5.62% | 6.38% |
| 9Y | 5.68% | 6.39% |
| 10Y | 5.72% | 6.36% |
| 15Y | 5.90% | 6.57% |
| 20Y | 6.13% | 7.66% |
| 25Y | 6.22% | 7.19% |
| 30Y | 6.24% | 6.61% |
| 40Y | 6.24% | 6.45% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.95% and the 10-year 5.72%, a 10Y−2Y spread of +77 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 | 4.95% | 4.72% | 4.73% | 4.64% | 4.50% | 4.40% | 4.16% |
| 10Y | 5.72% | 5.62% | 5.43% | 5.37% | 5.31% | 5.24% | 5.11% |
| 10Y − 2Y | +77 bp | +90 bp | +70 bp | +72 bp | +82 bp | +84 bp | +94 bp |
Yields by rating group
The same curve split by credit quality: 422 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: A+ to BBB- 5.16%, Speculative 6.41%.
Bonds in this curve
A selection of 30 of the 425 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Honda Motor CO LTD | 4.15% | 2026-10-05 | 4.40% | US02665WFP14 |
| Sumitomo Mitsui Financial Group INC | 4.12% | 2026-10-19 | 3.01% | US86562MAK62 |
| Toyota Motor Corporation | 4.40% | 2026-11-20 | 5.40% | US89236TLD53 |
| Toyota Motor Corporation | 4.39% | 2027-01-08 | 4.60% | US89236TMY81 |
| Rakuten Group, INC. | 5.43% | 2027-02-15 | 11.25% | USJ64264AG96 |
| Mitsubishi UFJ Financial Group (Mufg) | 4.40% | 2027-02-22 | 3.68% | US606822AN45 |
| Toyota Motor Corporation | 4.48% | 2027-05-14 | 4.50% | US89236TNG66 |
| Nomura Holdings INC | 5.11% | 2027-07-02 | 5.59% | US65535HBR93 |
| NTT Finance Corporation | 5.06% | 2027-07-27 | 4.37% | USJ5S39RAK09 |
| Toyota Motor Corporation | 4.45% | 2027-08-13 | 1.15% | US89236THG31 |
| AIR Lease Corp | 5.01% | 2027-12-15 | 5.85% | US00914AAT97 |
| Toyota Motor Corporation | 4.73% | 2028-01-11 | 3.05% | US89236TEM36 |
| Honda Motor CO LTD | 5.06% | 2028-07-07 | 5.12% | US02665WEM91 |
| Honda Motor CO LTD | 5.02% | 2028-07-08 | 4.44% | US438127AD47 |
| Honda Motor CO LTD | 5.17% | 2029-03-13 | 4.90% | US02665WFE66 |
| Toyota Motor Corporation | 4.89% | 2029-03-13 | 4.05% | US89236TPQ21 |
| Sumitomo Mitsui Trust Bank | 5.20% | 2030-03-13 | 4.70% | USJ7771YTZ09 |
| Takeda Pharmaceutical CO LTD | 5.18% | 2030-03-31 | 2.05% | US874060AX48 |
| Toyota Motor Corporation | 5.21% | 2031-03-21 | 5.10% | US89236TLZ65 |
| Toyota Motor Corporation | 5.17% | 2031-03-25 | 2.36% | US892331AN94 |
| Orix Corporation | 5.41% | 2032-04-13 | 4.00% | US686330AP65 |
| Nippon Life Insurance Company | 5.48% | 2033-04-02 | 5.05% | USJ54675BH56 |
| Nomura Holdings INC | 5.77% | 2034-07-03 | 5.78% | US65535HBV06 |
| Sumitomo Mitsui Trust Bank | 5.67% | 2035-03-13 | 5.05% | USJ7771YUB12 |
| Mizuho Bank LTD | 5.70% | 2036-04-16 | 5.18% | USJ45992RN62 |
| Takeda Pharmaceutical CO LTD | 6.02% | 2040-07-09 | 3.02% | US874060AY21 |
| Takeda Pharmaceutical CO LTD | 6.18% | 2044-07-05 | 5.65% | US874060BL90 |
| Takeda Pharmaceutical CO LTD | 6.19% | 2050-07-09 | 3.17% | US874060AZ95 |
| Takeda Pharmaceutical CO LTD | 6.21% | 2054-07-05 | 5.65% | US874060BM73 |
| Takeda Pharmaceutical CO LTD | 6.32% | 2064-07-05 | 5.80% | US874060BN56 |