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Capital should go to investments that speed up long-term growth

20060901N Tokyo commuters

Rising bond yields may be a sign the Japanese economy is emerging from three lost decades. (Photo by Yutaka Miyaguchi)

SETSUO OTSUKA

September 2, 2026 03:22 JST

TOKYO — With Japan’s long-term bond yields climbing above 3% for the first time in 30 years, interest rates may better fulfill one of their most basic functions: screening projects and investments for profitability.