Bank of Japan Gov. Haruhiko Kuroda's success in fueling inflation expectations has caused some investors to seek a revival in his predecessor's policies to temper the worst Japanese government bond losses in nine years.

JGBs maturing in more than 10 years have lost 3.8 percent so far this quarter, the most since the period that ended in June 2004, according to a Bank of America Merrill Lynch index.

That compares with a first-quarter gain of 6.4 percent, the most since 2008, when Masaaki Shirakawa was head of the BOJ. Similar-maturity Treasuries are set for a 1.8 percent decline this quarter.