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 2026-08-10・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 | 0.192877 (64 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 15.30 |
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| Macaulay Duration | 15.39 |
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| DV01 | — |
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| Convexity | 256.0 |
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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 2026-08-23 ・ CMT 2026-08-20
| CMT interpolated (rem 16.8y) | 3.522 % → ref. price 69.425 |
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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 2026-11-23 | -50bp | 3.006 | 75.237 | 0.277 | +8.75% | +34.99% |
| -25bp | 3.256 | 72.525 | 0.277 | +4.85% | +19.41% |
| Unchanged (roll-down) | 3.506 | 69.922 | 0.277 | +1.11% | +4.45% |
| +25bp | 3.756 | 67.422 | 0.277 | -2.48% | -9.91% |
| +50bp | 4.006 | 65.021 | 0.277 | -5.93% | -23.71% |
| 6m 2027-02-23 | -50bp | 2.991 | 75.701 | 0.553 | +9.81% | +19.62% |
| -25bp | 3.241 | 73.008 | 0.553 | +5.94% | +11.88% |
| Unchanged (roll-down) | 3.491 | 70.421 | 0.553 | +2.23% | +4.45% |
| +25bp | 3.741 | 67.935 | 0.553 | -1.35% | -2.69% |
| +50bp | 3.991 | 65.546 | 0.553 | -4.78% | -9.56% |
| 12m 2027-08-23 | -50bp | 2.960 | 76.609 | 1.100 | +11.90% | +11.90% |
| -25bp | 3.210 | 73.954 | 1.100 | +8.09% | +8.09% |
| Unchanged (roll-down) | 3.460 | 71.400 | 1.100 | +4.42% | +4.42% |
| +25bp | 3.710 | 68.943 | 1.100 | +0.89% | +0.89% |
| +50bp | 3.960 | 66.580 | 1.100 | -2.51% | -2.51% |