Translation guide
A financial bond that can be exchanged for shares of a company other than the issuer. In Japanese, this is typically expressed with the loanword エクスチェンジャブル債 or the descriptive phrase 他社株転換社債.
exchangeable bond
Most common term in Japanese financial contexts.
A bond that can be converted into shares of a company other than the issuer.
The direct loanword from English, commonly used in financial contexts.
An exchangeable bond (エクスチェンジャブル債) is exchanged for shares of a company other than the issuer, while a convertible bond (転換社債) is exchanged for shares of the issuer itself. In Japanese, 転換社債 (convertible bond) is more common, so be careful not to confuse the two.
Our company issued exchangeable bonds.
A descriptive Japanese term meaning 'convertible bond into shares of another company'. Used in formal documents.
This exchangeable bond is expected to be held until maturity.
A literal translation meaning 'exchangeable bond', but less common than the loanword or technical term. May be used in explanatory contexts.
Exchangeable bonds can be converted into shares of a company other than the issuer.
Convertible bonds are converted into the issuer's own shares, while exchangeable bonds are converted into shares of another company.