bonds / 20Y / JGB (20-Year) No. 165
Bond Information
| Name | JGB (20-Year) No. 165 |
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| ISIN | — |
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| Issue # | 165 |
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| Coupon (%) | 0.5% semi-annual |
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| Issue Date | 2018-07-13 |
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| Maturity | 2038-06-20 （Remaining 11.6y） |
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| Outstanding | ¥3.7T （2026-03-31・MOF） |
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| Total issued | ¥3.7T （annual report, FY-end） |
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| Statutory basis | 4条特例借換前倒 |
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| SLF usage | last 30d —／ total ¥36.4B（last 2026-09-09・BOJ） |
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| BOJ Holding | ¥1.1T（30.3%）（as of 2026-10-20・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 | 0.500 % |
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| Compound Yield | 0.4996 % |
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| Accrued Interest | 0.178082 (130 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 11.29 |
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| Macaulay Duration | 11.31 |
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| DV01 | — |
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| Convexity | 135.5 |
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Estimates based on the input price.
Cashflow Schedule
| Date | Type | Amount (per 100) |
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| 2026-12-20 | coupon | 0.250 |
| 2027-06-20 | coupon | 0.250 |
| 2027-12-20 | coupon | 0.250 |
| …（19 omitted）… |
| 2037-12-20 | coupon | 0.250 |
| 2038-06-20 | coupon + redemption | 100.250 |
Related Auctions
Horizon total return settle 2026-10-28 ・ CMT 2026-10-23
| CMT interpolated (rem 11.6y) | 3.013 % → ref. price 75.454 |
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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 2027-01-28 | -50bp | 2.486 | 80.385 | -0.125 | +6.35% | +25.42% |
| -25bp | 2.736 | 78.223 | -0.125 | +3.50% | +13.99% |
| Unchanged (roll-down) | 2.986 | 76.124 | -0.125 | +0.72% | +2.88% |
| +25bp | 3.236 | 74.084 | -0.125 | -1.98% | -7.91% |
| +50bp | 3.486 | 72.102 | -0.125 | -4.60% | -18.39% |
| 6m 2027-04-28 | -50bp | 2.460 | 80.982 | 0.249 | +7.64% | +15.27% |
| -25bp | 2.710 | 78.848 | 0.249 | +4.82% | +9.63% |
| Unchanged (roll-down) | 2.960 | 76.775 | 0.249 | +2.08% | +4.15% |
| +25bp | 3.210 | 74.759 | 0.249 | -0.59% | -1.18% |
| +50bp | 3.460 | 72.800 | 0.249 | -3.18% | -6.36% |
| 12m 2027-10-28 | -50bp | 2.406 | 82.180 | 0.500 | +9.55% | +9.55% |
| -25bp | 2.656 | 80.107 | 0.500 | +6.81% | +6.81% |
| Unchanged (roll-down) | 2.906 | 78.089 | 0.500 | +4.15% | +4.15% |
| +25bp | 3.156 | 76.126 | 0.500 | +1.55% | +1.55% |
| +50bp | 3.406 | 74.216 | 0.500 | -0.98% | -0.98% |