bonds / 20Y / JGB (20-Year) No. 185
Bond Information
| Name | JGB (20-Year) No. 185 |
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| ISIN | — |
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| Issue # | 185 |
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| Coupon (%) | 1.1% semi-annual |
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| Issue Date | 2023-07-14 |
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| Maturity | 2043-06-20 （Remaining 16.6y） |
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| Outstanding | ¥3.7T （2026-03-31・MOF） |
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| Total issued | ¥3.8T （annual report, FY-end） |
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| Statutory basis | 4条特例借換財投 |
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| SLF usage | last 30d —／ total ¥1.1B（last 2026-04-06・BOJ） |
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| BOJ Holding | ¥565.5B（15.1%）（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 | 1.100 % |
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| Compound Yield | 1.0992 % |
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| Accrued Interest | 0.391781 (130 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 15.12 |
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| Macaulay Duration | 15.21 |
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| DV01 | — |
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| Convexity | 250.4 |
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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 | 0.550 |
| 2027-06-20 | coupon | 0.550 |
| 2027-12-20 | coupon | 0.550 |
| …（29 omitted）… |
| 2042-12-20 | coupon | 0.550 |
| 2043-06-20 | coupon + redemption | 100.550 |
Related Auctions
Horizon total return settle 2026-10-28 ・ CMT 2026-10-23
| CMT interpolated (rem 16.6y) | 3.462 % → ref. price 70.279 |
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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 | 2.949 | 76.085 | -0.274 | +7.83% | +31.31% |
| -25bp | 3.199 | 73.367 | -0.274 | +3.98% | +15.93% |
| Unchanged (roll-down) | 3.449 | 70.755 | -0.274 | +0.29% | +1.15% |
| +25bp | 3.699 | 68.246 | -0.274 | -3.26% | -13.05% |
| +50bp | 3.949 | 65.836 | -0.274 | -6.67% | -26.70% |
| 6m 2027-04-28 | -50bp | 2.935 | 76.513 | 0.547 | +9.60% | +19.19% |
| -25bp | 3.185 | 73.814 | 0.547 | +5.78% | +11.55% |
| Unchanged (roll-down) | 3.435 | 71.220 | 0.547 | +2.11% | +4.21% |
| +25bp | 3.685 | 68.727 | 0.547 | -1.42% | -2.84% |
| +50bp | 3.935 | 66.330 | 0.547 | -4.81% | -9.63% |
| 12m 2027-10-28 | -50bp | 2.908 | 77.381 | 1.100 | +11.61% | +11.61% |
| -25bp | 3.158 | 74.724 | 1.100 | +7.85% | +7.85% |
| Unchanged (roll-down) | 3.408 | 72.167 | 1.100 | +4.23% | +4.23% |
| +25bp | 3.658 | 69.706 | 1.100 | +0.75% | +0.75% |
| +50bp | 3.908 | 67.338 | 1.100 | -2.60% | -2.60% |