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 24.5y） |
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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 （2026-06-30） |
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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 2026-08-31・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 | 2.1984 % |
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| Accrued Interest | 1.066849 (177 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 18.69 |
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| Macaulay Duration | 18.89 |
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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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| 2026-09-20 | coupon | 1.100 |
| 2027-03-20 | coupon | 1.100 |
| 2027-09-20 | coupon | 1.100 |
| …（45 omitted）… |
| 2050-09-20 | coupon | 1.100 |
| 2051-03-20 | coupon + redemption | 101.100 |
Related Auctions
Horizon total return settle 2026-09-13 ・ CMT 2026-09-10
| CMT interpolated (rem 24.5y) | 3.991 % → ref. price 72.124 |
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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 | 3.478 | 79.147 | -0.561 | +8.83% | +35.32% |
| -25bp | 3.728 | 75.714 | -0.561 | +4.14% | +16.56% |
| Unchanged (roll-down) | 3.978 | 72.464 | -0.561 | -0.30% | -1.20% |
| +25bp | 4.228 | 69.386 | -0.561 | -4.51% | -18.03% |
| +50bp | 4.478 | 66.470 | -0.561 | -8.49% | -33.96% |
| 6m 2027-03-13 | -50bp | 3.465 | 79.466 | 1.082 | +11.51% | +23.02% |
| -25bp | 3.715 | 76.041 | 1.082 | +6.83% | +13.66% |
| Unchanged (roll-down) | 3.965 | 72.797 | 1.082 | +2.40% | +4.79% |
| +25bp | 4.215 | 69.723 | 1.082 | -1.80% | -3.61% |
| +50bp | 4.465 | 66.810 | 1.082 | -5.78% | -11.57% |
| 12m 2027-09-13 | -50bp | 3.438 | 80.105 | 2.200 | +13.91% | +13.91% |
| -25bp | 3.688 | 76.696 | 2.200 | +9.25% | +9.25% |
| Unchanged (roll-down) | 3.938 | 73.465 | 2.200 | +4.84% | +4.84% |
| +25bp | 4.188 | 70.400 | 2.200 | +0.65% | +0.65% |
| +50bp | 4.438 | 67.493 | 2.200 | -3.32% | -3.32% |