Japan Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-japan
Japan Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.57%, fitted curve 1M–40Y (4.60%–6.48%), 408 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.60% | — |
| 3M | 4.62% | 4.63% |
| 6M | 4.65% | 4.67% |
| 9M | 4.67% | 4.73% |
| 12M | 4.70% | 4.79% |
| 18M | 4.76% | 4.87% |
| 2Y | 4.82% | 4.98% |
| 3Y | 4.93% | 5.15% |
| 4Y | 5.03% | 5.36% |
| 5Y | 5.14% | 5.55% |
| 6Y | 5.24% | 5.73% |
| 7Y | 5.33% | 5.89% |
| 8Y | 5.42% | 6.03% |
| 9Y | 5.50% | 6.15% |
| 10Y | 5.57% | 6.25% |
| 15Y | 5.86% | 6.43% |
| 20Y | 6.02% | 6.52% |
| 25Y | 6.11% | 6.48% |
| 30Y | 6.31% | 7.28% |
| 40Y | 6.48% | 7.01% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.82% and the 10-year 5.57%, a 10Y−2Y spread of +76 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 | 6m ago2026-01-28 |
|---|---|---|---|---|---|---|---|
| 2Y | 4.82% | 4.59% | 4.60% | 4.36% | 4.47% | 3.97% | 4.03% |
| 10Y | 5.57% | 5.28% | 5.36% | 5.22% | 5.37% | 4.86% | 4.95% |
| 10Y − 2Y | +76 bp | +69 bp | +77 bp | +86 bp | +90 bp | +90 bp | +92 bp |
Yields by rating group
The same curve split by credit quality: 465 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: A+ to BBB- 5.02%, Speculative 6.34%.
Bonds in this curve
A selection of 30 of the 467 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Nissan Motor | 3.99% | 2026-09-15 | 6.95% | US65480CAE57 |
| Sumitomo Mitsui Financial Group INC | 4.19% | 2026-09-17 | 1.40% | US86562MCH16 |
| Honda Motor CO LTD | 4.45% | 2026-10-05 | 4.40% | US02665WFP14 |
| Sumitomo Mitsui Financial Group INC | 4.15% | 2026-10-19 | 3.01% | US86562MAK62 |
| Honda Motor CO LTD | 5.08% | 2027-01-08 | 2.35% | US02665WDJ71 |
| Toyota Motor Corporation | 4.53% | 2027-01-08 | 4.60% | US89236TMY81 |
| Toyota Motor Corporation | 4.50% | 2027-03-19 | 5.00% | US89236TLY90 |
| Toyota Motor Corporation | 4.42% | 2027-03-22 | 3.05% | US89236TJZ93 |
| Toyota Motor Corporation | 4.67% | 2027-06-30 | 4.19% | US892331AS81 |
| Nomura Holdings INC | 5.10% | 2027-07-02 | 5.59% | US65535HBR93 |
| Toyota Motor Corporation | 4.58% | 2027-11-10 | 5.45% | US89236TKL88 |
| Honda Motor CO LTD | 4.83% | 2028-01-12 | 4.70% | US02665WED92 |
| Toyota Motor Corporation | 4.58% | 2028-05-12 | 4.25% | US89236TPZ20 |
| Japan Tobacco INC | 4.93% | 2028-05-15 | 4.85% | USJ27869BB13 |
| Mitsubishi UFJ Financial Group (Mufg) | 4.65% | 2029-03-07 | 3.74% | US606822BH67 |
| Sumitomo Mitsui Trust Bank | 4.82% | 2029-03-07 | 5.20% | USJ7771YSX69 |
| Toyota Motor Corporation | 4.84% | 2030-02-13 | 2.15% | US89236TGU34 |
| Sekisui House, Ltd. | 5.00% | 2030-02-23 | 4.70% | XS2919470935 |
| Tohoku Electric Power Company, Incorporated | 5.23% | 2031-03-04 | 4.32% | XS3289874227 |
| Toyota Motor Corporation | 4.99% | 2031-03-21 | 5.10% | US89236TLZ65 |
| Honda Motor CO LTD | 5.33% | 2032-03-10 | 2.97% | US438127AC63 |
| Mitsubishi HC Capital INC | 5.46% | 2033-02-28 | 5.66% | USU6S68YAA69 |
| Sumitomo Mitsui Trust Bank | 5.34% | 2034-03-07 | 5.35% | USJ7771YSY43 |
| Orix Corporation | 5.52% | 2035-02-25 | 5.40% | US686329AB98 |
| Mizuho Bank LTD | 5.51% | 2036-04-16 | 5.18% | USJ45992RN62 |
| Mitsubishi UFJ Financial Group (Mufg) | 5.52% | 2039-03-07 | 4.15% | US606822BE37 |
| Mitsubishi UFJ Financial Group (Mufg) | 5.81% | 2044-03-10 | 4.70% | USJ0423YBR48 |
| Takeda Pharmaceutical CO LTD | 6.05% | 2050-07-09 | 3.17% | US874060AZ95 |
| Takeda Pharmaceutical CO LTD | 6.09% | 2054-07-05 | 5.65% | US874060BM73 |
| Sekisui House, Ltd. | 6.77% | 2061-08-06 | 3.97% | US552676AV06 |