Rakuten Group prices a record ¥400 billion ($2.5 billion) in yen-denominated bonds on Friday, describing it as its largest-ever yen bond sale. The offering includes ¥360 billion targeted at retail investors, alongside other tranches not aimed specifically at individual investors.
The bonds have a 5.5-year maturity and carry a 4.37% coupon. Japan Times and Bloomberg report the issue is priced at a spread of 200 basis points over the benchmark 10-year Japanese government bond. The Next Web notes the company’s issuance follows heavy retail participation in Japan’s bond market, with total Japanese corporate retail bond sales already around ¥3.2 trillion this year—exceeding the level recorded for 2025.
Outlets emphasize different aspects of the same transaction: Bloomberg and Japan Times focus on the bond terms and the scale of retail participation; The Next Web adds broader market context about growing retail demand for corporate bonds in Japan.
