bonds / 20Y / JGB (20-Year) No. 125
Bond Information
| Name | JGB (20-Year) No. 125 |
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| ISIN | — |
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| Issue # | 125 |
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| Coupon (%) | 2.2% semi-annual |
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| Issue Date | 2011-03-22 |
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| Maturity | 2031-03-20 （Remaining 4.5y） |
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| Outstanding | ¥1.7T （2026-03-31・MOF） |
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| Total issued | ¥1.8T （annual report, FY-end） |
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| Statutory basis | 特例借換前倒財投 |
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| STRIPS principal | ¥1.2B （2026-06-30） |
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| SLF usage | last 30d —／ total ¥47.6B（last 2026-06-18・BOJ） |
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| BOJ Holding | ¥810.1B（46.4%）（as of 2026-08-31・Source: BOJ・Ratios approximate due to differing as-of dates） |
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| Status | active |
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Results
Yield Calculator (price input) | Simple Yield | 2.200 % |
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| Compound Yield | 2.1985 % |
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| Accrued Interest | 1.066849 (177 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 4.23 |
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| Macaulay Duration | 4.28 |
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| DV01 | — |
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| Convexity | 20.7 |
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Estimates based on the input price.
Cashflow Schedule
| Date | Type | Amount (per 100) |
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| 2026-09-20 | coupon | 1.100 |
| 2027-03-20 | coupon | 1.100 |
| 2027-09-20 | coupon | 1.100 |
| …（5 omitted）… |
| 2030-09-20 | coupon | 1.100 |
| 2031-03-20 | coupon + redemption | 101.100 |
Related Auctions
| Auction Date | | Bid/Cover | Tail (sen) | Avg Yield (%) |
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| 2011-03-16 | new | 4.13 | 22 | 2.130 |
Horizon total return settle 2026-09-13 ・ CMT 2026-09-10
| CMT interpolated (rem 4.5y) | 2.186 % → ref. price 100.054 |
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| G-spread (vs interpolated CMT) | — |
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| Horizon | Scenario | Yield@H | Price@H | Carry | Total return | Ann. |
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| 3m 2026-12-13 | -50bp | 1.656 | 102.235 | -0.561 | +1.60% | +6.41% |
| -25bp | 1.906 | 101.202 | -0.561 | +0.58% | +2.32% |
| Unchanged (roll-down) | 2.156 | 100.180 | -0.561 | -0.43% | -1.72% |
| +25bp | 2.406 | 99.171 | -0.561 | -1.43% | -5.71% |
| +50bp | 2.656 | 98.173 | -0.561 | -2.42% | -9.66% |
| 6m 2027-03-13 | -50bp | 1.626 | 102.228 | 1.082 | +3.22% | +6.44% |
| -25bp | 1.876 | 101.251 | 1.082 | +2.25% | +4.51% |
| Unchanged (roll-down) | 2.126 | 100.285 | 1.082 | +1.30% | +2.60% |
| +25bp | 2.376 | 99.330 | 1.082 | +0.35% | +0.71% |
| +50bp | 2.626 | 98.386 | 1.082 | -0.58% | -1.16% |
| 12m 2027-09-13 | -50bp | 1.542 | 102.239 | 2.200 | +4.34% | +4.34% |
| -25bp | 1.792 | 101.380 | 2.200 | +3.49% | +3.49% |
| Unchanged (roll-down) | 2.042 | 100.528 | 2.200 | +2.64% | +2.64% |
| +25bp | 2.292 | 99.685 | 2.200 | +1.81% | +1.81% |
| +50bp | 2.542 | 98.851 | 2.200 | +0.99% | +0.99% |