Daily Japan updates
A new 10-year bond offer opens as pension deduction certificates enter the year-end cycle
October brings both a fresh retail government-bond offer and the timetable households need for National Pension contribution records.
Developments
Two official October updates affect different parts of household financial planning. The first sets the terms for a new fixed-rate government bond sold through financial institutions. The second tells National Pension contributors when to expect the certificate used for year-end adjustment or a tax return.
1. The October fixed 10-year JGB offers a 3.1% coupon but is priced above face value
The Ministry of Finance set the application period at October 9–28 for the 384th fixed 10-year over-the-counter JGB. Its annual coupon is 3.1% before tax, while the stated applicant yield is 3.048% because the offer price is ¥100.39 for each ¥100 of face value. Applications begin at ¥50,000 in ¥50,000 units; issuance is scheduled for November 10 and maturity for September 20, 2036. This is product information, not a recommendation: taxes, account fees, inflation and the price received in an early sale can all change the result. (Check the official terms)
2. National Pension deduction certificates start arriving electronically from October 16
The Japan Pension Service says people who paid National Pension contributions between January 1 and September 30 should receive electronic certificates from October 16 through late October, or paper certificates from October 23 through early November. People whose first 2026 payment falls between October and December are on the later January or February 2027 schedule. Electronic recipients will not also receive a paper copy, and the data can be used with e-Tax. Special handling applies to contributions prepaid across 13 months or more, so the certificate and official instructions should be checked before filing. (Review the official schedule)
What households should do next
Bond buyers should compare the stated yield with fees, liquidity needs and alternatives rather than looking only at the coupon. Pension contributors should confirm how their certificate will arrive and retain the correct record for year-end adjustment or their tax return. Individual tax and investment outcomes depend on personal circumstances.