bonds / 40Y / JGB (40-Year) No. 4
Bond Information
| Name | JGB (40-Year) No. 4 |
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| ISIN | — |
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| Issue # | 4 |
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| Coupon (%) | 2.2% semi-annual |
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| Issue Date | 2011-05-20 |
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| Maturity | 2051-03-20 （Remaining 24.4y） |
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| Outstanding | ¥2.1T （2026-03-31・MOF） |
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| Total issued | ¥2.1T （annual report, FY-end） |
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| Statutory basis | 4条借換前倒 |
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| STRIPS principal | ¥2.4B （2026-09-30） |
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| SLF usage | last 30d —／ total ¥1B（last 2026-02-02・BOJ） |
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| BOJ Holding | ¥329.7B（15.9%）（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 | 2.200 % |
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| Compound Yield | 2.1988 % |
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| Accrued Interest | 0.229041 (38 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 18.77 |
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| Macaulay Duration | 18.97 |
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| DV01 | — |
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| Convexity | 422.3 |
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Estimates based on the input price.
Cashflow Schedule
| Date | Type | Amount (per 100) |
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| 2027-03-20 | coupon | 1.100 |
| 2027-09-20 | coupon | 1.100 |
| 2028-03-20 | coupon | 1.100 |
| …（44 omitted）… |
| 2050-09-20 | coupon | 1.100 |
| 2051-03-20 | coupon + redemption | 101.100 |
Related Auctions
Horizon total return settle 2026-10-28 ・ CMT 2026-10-23
| CMT interpolated (rem 24.4y) | 3.903 % → ref. price 73.329 |
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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 | 3.388 | 80.483 | 0.555 | +10.48% | +41.92% |
| -25bp | 3.638 | 76.992 | 0.555 | +5.73% | +22.93% |
| Unchanged (roll-down) | 3.888 | 73.686 | 0.555 | +1.24% | +4.95% |
| +25bp | 4.138 | 70.554 | 0.555 | -3.02% | -12.08% |
| +50bp | 4.388 | 67.587 | 0.555 | -7.05% | -28.21% |
| 6m 2027-04-28 | -50bp | 3.374 | 80.811 | 1.106 | +11.67% | +23.35% |
| -25bp | 3.624 | 77.327 | 1.106 | +6.94% | +13.88% |
| Unchanged (roll-down) | 3.874 | 74.026 | 1.106 | +2.45% | +4.90% |
| +25bp | 4.124 | 70.898 | 1.106 | -1.80% | -3.60% |
| +50bp | 4.374 | 67.934 | 1.106 | -5.83% | -11.66% |
| 12m 2027-10-28 | -50bp | 3.344 | 81.503 | 2.200 | +14.10% | +14.10% |
| -25bp | 3.594 | 78.035 | 2.200 | +9.39% | +9.39% |
| Unchanged (roll-down) | 3.844 | 74.746 | 2.200 | +4.92% | +4.92% |
| +25bp | 4.094 | 71.627 | 2.200 | +0.68% | +0.68% |
| +50bp | 4.344 | 68.668 | 2.200 | -3.35% | -3.35% |