Meiji Yasuda Life Eyes Up to 1 Trillion Yen in Yen Bonds This Year
Japanese insurer Meiji Yasuda Life says it may buy up to 1 trillion yen of yen bonds this fiscal year, drawn by 30-year JGB yields near 4%.
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what happened
Japanese insurer Meiji Yasuda Life told Reuters it could purchase as much as 1 trillion yen ($6.32 billion) of yen-denominated bonds during the current fiscal year. The firm views long-dated government bonds as appealing after a year marked by heavy price declines in the segment.
Investment official Kenichiro Kitamura said: “The current level of yields, with the 30-year JGB yield at around 4%, is very attractive.” The insurer bought 550 billion yen of Japanese bonds, mostly super-long issues, in the first half. Kitamura added that the firm is not considering maturities under 10 years and expects the 10-year yield to sit just above 3% in the second half. The 10-year yield was 2.895% on Wednesday. French bonds account for roughly 5% of its foreign bond portfolio.
why it matters
Steady buying from a large insurer can support the super-long end of the JGB curve. Kitamura also said global yields could fall if the Federal Reserve starts cutting rates once the Middle East situation calms, which is why locking in current levels matters to the company. The plan is a company-level signal, not a central bank decision.
market impact
JGBs: insurer demand for long-dated bonds may cushion yields at the long end of the curve
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instruments
sources
- Meiji Yasuda may buy as much as 1 trillion yen worth of yen bonds this year — Reuters, 21 October 2026 at 04:24 UTC
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