Nikkei reports foreign issuers have turned to Japanese investors amid a global
AI cloud funding surge. Daiwa Securities data show foreign entities’ yen bond
issuance totaled a record ¥2.5 trillion in April–September this year, up 160%
YoY and above the ¥2.1 trillion posted in Oct 2018–Mar 2019. Alphabet issued
¥576.5 billion in May, the largest single yen deal, and is expected to use
proceeds for large-scale AI infrastructure investment. A major securities house
said most overseas issuers convert yen bond proceeds into dollars or euros.