Japan’s Ultra-Low Funding Costs Are Luring More Global Borrowers

It’s not just tourists returning to Japan. Global borrowers are adding to the most yen bond sales in three years, enjoying the country’s lower borrowing costs amid a global fixed-income rout as central banks elsewhere raise rates to fight inflation.

Shinhan Bank Co. is marketing a Samurai bond and Thermo Fisher Scientific Inc. is planning to sell a potentialglobal yen bond in seven tranches.

Issuance of notes in the currency by foreign borrowers have reached 1.56 trillion yen ($10.7 billion) so far this year, the most since the same period of 2019, according to data compiled by Bloomberg.

Japan’s ...