Takahiko Hyuga

The offering comes as Japan's benchmark 10-year government bond yield topped 3% for the first time in about 30 years, making bonds an attractive option for households that have traditionally kept much of their financial assets in bank deposits.

Mitsubishi UFJ Financial Group Inc. priced ¥200 billion ($1.3 billion) of perpetual debt at spreads tighter than its previous sale as investors gravitated toward subordinated issues.

SoftBank Group Corp.’s credit default swaps hovered near a three-year high as traders assessed potential implications from funding plans for OpenAI, one of SoftBank’s biggest bets.

The company will pay its highest-ever rates on new junk bonds, the latest in a series of borrowings to help fund Masayoshi Son’s bet on the ChatGPT maker.

Nidec Corp.’s bond spreads widened amid investor concerns about growing credit risks with the company’s auditor withholding its opinion on its financial statements.

Scandal-tainted Nidec Corp., which grew from a Kyoto startup into the world’s largest manufacturer of precision motors, has fallen to the bottom rank of the yen debt market by one measure, leaving its new president with a challenge to restore investor confidence.

The precision motor manufacturer’s yen bond due in mid-2032 has slumped to ¥77.7, the lowest among more than 3,000 local corporate notes.

Rakuten Group Inc. priced ¥400 billion ($2.5 billion) of yen-denominated bonds on Friday, including debt aimed at individual investors, in its largest-ever yen bond sale.

SoftBank Group Corp.’s credit risk, as measured by its credit-default swaps, has risen to the highest level in nearly four years as concerns grow over AI-related funding and a potential large acquisition.

A cyberattack on a listed unit of GMO Internet Group Inc. is spilling into Japan’s credit market, widening the company’s bond spread as investors grow more concerned about the potential blow to earnings.