Monex adds 40-year Japanese government bonds in ¥50,000 units

Monex said on 21 October that it had begun handling issue 19 of Japan’s 40-year government bond through its existing-bond service. The offering adds access to a yen security maturing in March 2066.[1]

The Ministry of Finance’s issue terms set interest dates on 20 March and 20 September. At the stated coupon, ¥50,000 face value corresponds to ¥1,900 of gross annual interest over a full year. That arithmetic describes the coupon entitlement; it does not calculate the return on the actual amount paid.[2]

Monex’s existing-bond guide explains that purchases take place at market prices and include accrued interest paid to the seller. Its simple-yield convention combines annual interest with the annualised difference between purchase and redemption values, without assuming reinvestment income. A dated yield indication consequently cannot replace the price and settlement details of a particular order.[3]

The same guide explains that bond prices generally fall when market interest rates rise, with the effect usually greater for longer maturities. An investor selling before maturity receives the prevailing market price. The long-dated security therefore offers a predictable coupon schedule alongside potentially substantial changes in resale value.[3]

For a brokerage distributing very long bonds in small units, the key customer comparison is between the intended holding period and the maturity date. The low face-value entry point reduces the size of an individual position; it does not shorten the period over which its fixed payments are exposed to changing market rates.

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