Mizuho Financial Group and Sumitomo Mitsui Financial Group are supporting record quarterly issuance of Japanese corporate bonds in foreign currencies, according to reports on Monday. The combined activity pushes overseas-currency bond sales by Japanese companies to the highest level for any quarter, reflecting a broader shift by firms toward funding sources beyond Japan. Both sources link the pickup in foreign-currency issuance to conditions in currency markets. The yen weakens further against the dollar, with one report noting it reaches its weakest level since 1986 this week. While the underwriting and sales efforts by the two banks are cited as key drivers of the issuance volume, the underlying motivation for corporate borrowers appears tied to expanding access to offshore markets and financing plans that can benefit from current foreign-exchange dynamics. Overall, the reports describe a surge in foreign-currency corporate bond issuance led by Japanese financial institutions and enabled by continued yen depreciation and strong demand for corporate debt placed overseas.