TOKYO, Feb 14 (Reuters) - Yields on Japanese government

bonds with shorter maturities rose on Friday after a five-year

bond auction saw a weak outcome.

The five-year yield rose 0.5 basis point to

1.005%, after opening at 0.985%. The two-year JGB yield

climbed 0.5 bp to 0.795%.

The five-year bond auction received bids worth 3.52 times

the amount sold, down from a ratio of 3.82 times at the previous

auction.

"If the terminal rate of the Bank of Japan's policy rate is

1%, the current level of the five-year bond yield was not

attractive," said Shiji Ebihara, chief fixed income strategist

at Tokio Marine Asset Management.

The 10-year JGB yield was flat at 1.35%,

retreating from a nearly 15-year high of 1.37% scaled in the

previous session.

Yields on the longer-dated bonds fell, with the 20-year JGB

yield slipping 0.5 bp to 2.01%. The 30-year JGB

yield fell 0.5 bp to 2.315%.

The 40-year JGB yield fell 1.5 bps to

2.64%.