Japan Callable Corporate Bond Yields (USD)
Fitted spot curve as of 2026-09-11
https://bondscovery.com/yield-curve/usd-corporate-japan-callable
Japan Callable Corporate Bond Yields (USD) as of 2026-09-11: 10Y at 5.87%, fitted curve 1M–40Y (4.82%–6.31%), 287 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.82% | — |
| 3M | 4.84% | 4.85% |
| 6M | 4.87% | 5.02% |
| 9M | 4.91% | 5.07% |
| 12M | 4.94% | 5.07% |
| 18M | 5.00% | 5.20% |
| 2Y | 5.07% | 5.34% |
| 3Y | 5.19% | 5.54% |
| 4Y | 5.31% | 5.80% |
| 5Y | 5.42% | 6.04% |
| 6Y | 5.53% | 6.26% |
| 7Y | 5.63% | 6.45% |
| 8Y | 5.72% | 6.62% |
| 9Y | 5.80% | 6.76% |
| 10Y | 5.87% | 6.88% |
| 15Y | 6.12% | 7.07% |
| 20Y | 6.24% | 7.09% |
| 25Y | 6.28% | 6.77% |
| 30Y | 6.29% | 6.55% |
| 40Y | 6.31% | 6.59% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 5.07% and the 10-year 5.87%, a 10Y−2Y spread of +80 bp — positively sloped — as of 2026-09-11. 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 | Latest2026-09-11 | 1m ago2026-08-12 | 2m ago2026-07-13 | 3m ago2026-06-12 | 4m ago2026-05-14 | 5m ago2026-04-14 | 6m ago2026-03-16 |
|---|---|---|---|---|---|---|---|
| 2Y | 5.07% | 4.77% | 4.81% | 4.70% | 4.58% | 4.42% | 4.23% |
| 10Y | 5.87% | 5.59% | 5.40% | 5.37% | 5.29% | 5.21% | 5.06% |
| 10Y − 2Y | +80 bp | +81 bp | +59 bp | +67 bp | +70 bp | +78 bp | +84 bp |
Yields by rating group
The same curve split by credit quality: 327 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: A+ to BBB- 5.30%, Speculative 6.48%.
Bonds in this curve
A selection of 30 of the 327 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Honda Motor CO LTD | 3.98% | 2026-10-05 | 4.40% | US02665WFP14 |
| Honda Motor CO LTD | 5.39% | 2027-01-08 | 2.35% | US02665WDJ71 |
| Toyota Motor Corporation | 4.52% | 2027-01-08 | 4.60% | US89236TMY81 |
| Rakuten Group, INC. | 5.62% | 2027-02-15 | 11.25% | USJ64264AG96 |
| Mizuho Financial Group | 4.63% | 2027-02-28 | 3.66% | US60687YAK55 |
| Toyota Motor Corporation | 4.84% | 2027-06-30 | 4.19% | US892331AS81 |
| Nomura Holdings INC | 5.25% | 2027-07-02 | 5.59% | US65535HBR93 |
| Nissan Motor | 5.83% | 2027-09-13 | 5.30% | US65480CAG06 |
| Sumitomo Mitsui Trust Bank | 5.19% | 2027-09-15 | 4.95% | USJ7771YNL76 |
| AIR Lease Corp | 5.10% | 2027-12-15 | 5.85% | US00914AAT97 |
| Honda Motor CO LTD | 4.95% | 2028-01-12 | 4.70% | US02665WED92 |
| Honda Motor CO LTD | 5.12% | 2028-07-07 | 5.12% | US02665WEM91 |
| Honda Motor CO LTD | 5.09% | 2028-07-08 | 4.44% | US438127AD47 |
| Toyota Motor Corporation | 4.96% | 2029-03-13 | 4.05% | US89236TPQ21 |
| Development Bank of Japan | 4.98% | 2029-04-10 | 4.62% | XS2798964164 |
| Takeda Pharmaceutical CO LTD | 5.32% | 2030-03-31 | 2.05% | US874060AX48 |
| Toyota Motor Corporation | 5.19% | 2030-04-01 | 3.38% | US89236TGY55 |
| Toyota Motor Corporation | 5.33% | 2031-03-21 | 5.10% | US89236TLZ65 |
| Toyota Motor Corporation | 5.19% | 2031-03-25 | 2.36% | US892331AN94 |
| Honda Motor CO LTD | 5.62% | 2032-07-09 | 5.15% | US02665WGF23 |
| Nissan Motor | 7.34% | 2032-07-17 | 7.75% | USJ57160CY75 |
| Nippon Life Insurance Company | 5.58% | 2033-04-02 | 5.05% | USJ54675BH56 |
| Nomura Holdings INC | 5.87% | 2034-07-03 | 5.78% | US65535HBV06 |
| Marubeni Corporation | 5.72% | 2035-04-01 | 5.38% | USJ3979FCZ83 |
| Mizuho Bank LTD | 5.73% | 2036-04-16 | 5.18% | US60688XBQ25 |
| Takeda Pharmaceutical CO LTD | 6.12% | 2040-07-09 | 3.02% | US874060AY21 |
| Takeda Pharmaceutical CO LTD | 6.24% | 2044-07-05 | 5.65% | US874060BL90 |
| Takeda Pharmaceutical CO LTD | 6.28% | 2050-07-09 | 3.17% | US874060AZ95 |
| Takeda Pharmaceutical CO LTD | 6.25% | 2054-07-05 | 5.65% | US874060BM73 |
| Takeda Pharmaceutical CO LTD | 6.38% | 2064-07-05 | 5.80% | US874060BN56 |