Official Result (MOF)
| Auction Date | 2026-05-18 |
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| Issue Date | 2026-05-19 |
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| Issue | JGB (5-Year) No. 185（new） |
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| Coupon (%) | 2% |
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| Maturity | 2031-03-20 |
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| Method | price conventional |
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| Offering | ¥2.5T |
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| Competitive Bids | ¥6.2T |
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| Accepted Amount | ¥1.9T |
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| Lowest Accepted Price | 99.85（2.034%） |
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| Weighted Avg Price | 99.89（2.024%） |
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| Allotment Ratio | — |
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| Non-competitive I | ¥567.3B |
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| Non-competitive II | ¥157.6B |
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Source: https://www.mof.go.jp/jgbs/reference/appendix/jgb_historical_data.xls
Offering Terms (from MOF notice) documents →
| Official name | 利付国庫債券（5年）（第185回） |
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| Legal basis | 脱炭素成長型経済構造への円滑な移行の推進に関する法律（令和5年法律第32号）第7条第1項、情報処理の促進に関する法律（昭和45年法律第90号）第69条第1項及び特別会計に関する法律（平成19年法律第23号）第46条第1項 |
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| Coupon dates | 毎年3月20日及び9月20日 |
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| Planned amount | ¥2.5T |
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| Bid deadline | 2026-05-18 11:50 |
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| Payment date | 2026-05-19 |
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| Non-competitive II | held |
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| Price terms | — |
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Derived Metrics calc auction-v1 / auction-v2
| This | Prev | avg (12) | min | max | z |
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| Bid/Cover | 3.22 | 3.58 | 3.47 | 2.96 | 4.58 | -0.59 |
| Tail (sen) | 4 | 4 | 4 | 1 | 6 | +0.17 |
| Non-competitive take-up | 27.3% | 25.3% | |
| Grade | D (score -0.38) | (z(B/C) − z(tail))/2 bucketed A(≥1)/B(≥0.3)/C/D(≤−0.3)/E(≤−1), vs last 12 same-tenor |
| Yield tail (bp) | 1.0 | 0.9 |
Same-tenor Auction History