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 16.8y） |
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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 | ¥562.5B（15.0%）（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 | 1.100 % |
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| Compound Yield | 1.0992 % |
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| Accrued Interest | 0.256164 (85 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 15.25 |
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| Macaulay Duration | 15.33 |
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| DV01 | — |
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| Convexity | 254.2 |
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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 2026-09-13 ・ CMT 2026-09-10
| CMT interpolated (rem 16.8y) | 3.566 % → ref. price 69.055 |
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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 | 3.051 | 74.807 | 0.274 | +8.69% | +34.78% |
| -25bp | 3.301 | 72.121 | 0.274 | +4.82% | +19.27% |
| Unchanged (roll-down) | 3.551 | 69.541 | 0.274 | +1.10% | +4.39% |
| +25bp | 3.801 | 67.063 | 0.274 | -2.48% | -9.91% |
| +50bp | 4.051 | 64.683 | 0.274 | -5.91% | -23.65% |
| 6m 2027-03-13 | -50bp | 3.037 | 75.254 | 0.544 | +9.73% | +19.46% |
| -25bp | 3.287 | 72.586 | 0.544 | +5.88% | +11.76% |
| Unchanged (roll-down) | 3.537 | 70.022 | 0.544 | +2.18% | +4.36% |
| +25bp | 3.787 | 67.558 | 0.544 | -1.38% | -2.75% |
| +50bp | 4.037 | 65.190 | 0.544 | -4.79% | -9.58% |
| 12m 2027-09-13 | -50bp | 3.008 | 76.164 | 1.100 | +11.84% | +11.84% |
| -25bp | 3.258 | 73.534 | 1.100 | +8.05% | +8.05% |
| Unchanged (roll-down) | 3.508 | 71.005 | 1.100 | +4.40% | +4.40% |
| +25bp | 3.758 | 68.571 | 1.100 | +0.89% | +0.89% |
| +50bp | 4.008 | 66.229 | 1.100 | -2.49% | -2.49% |