What Is a Samurai Market?

The Samurai bond market is a medium- and long-term bond market in Japan that uses the yen as the par value currency issued by foreign issuers. In December 1970, the Asian Development Bank first issued samurai bonds in Japan. The World Bank and the Australian Government issued samurai bonds in June 1971 and July 1972, respectively. Since 1982, the Bank of China and other Chinese-funded financial institutions and enterprises have repeatedly raised yen funds in the form of samurai bonds. ^[1]