Japan Post Holdings Co., Ltd. and affiliated entities filed Amendment No. 6 to their Schedule 13G with the SEC on November 12, 2026, disclosing a combined beneficial ownership position of 50,121,329 shares of Aflac Inc. common stock, representing 10.13% of the insurer's outstanding shares.

Key Highlights

  • Aggregate beneficial ownership: 50,121,329 shares of Aflac Inc. common stock reported by Japan Post Holdings Co., Ltd. and affiliated filers.
  • Percent of class: 10.13%, based on 494,607,060 shares outstanding as of October 27, 2026.
  • Shares held directly: J&A Alliance Holdings Corporation holds the shares in its capacity as trustee of the J&A Alliance Trust.
  • Japan Post's role: Japan Post Holdings Co., Ltd. is described in the filing as the sole settlor and beneficiary of the Trust.
  • Beneficial ownership disclaimed: General Incorporated Association J&A Alliance, Kenji Sano, Tetsuya Numaguchi, and Japan Post each expressly disclaim beneficial ownership of the reported securities.
  • Triggering event date: November 10, 2026, as stated in the filing.

Japan Post Holdings and Affiliated Entities Detail Aflac Ownership Structure

According to the filing, 50,121,329 shares of Aflac Inc. common stock are held directly by J&A Alliance Holdings Corporation, a Delaware corporation, acting in its capacity as trustee of the J&A Alliance Trust. The filing identifies Japan Post Holdings Co., Ltd., a Japanese corporation headquartered at 2-3-1, Otemachi, Chiyoda-ku, Tokyo, as the sole settlor and beneficiary of the Trust, which is the basis for Japan Post's deemed beneficial ownership of the shares. Japan Post Holdings Co., Ltd. is classified as a financial institution in the filing.

The filing further discloses that General Incorporated Association J&A Alliance, a Japanese general incorporated association, owns J&A Alliance Holdings Corporation. Individuals Kenji Sano and Tetsuya Numaguchi are reported to each own 50% of the equity interests in General Incorporated Association J&A Alliance, which in turn gives each of them a deemed beneficial ownership position in the reported shares. Despite these structural connections, the filing states that "General Incorporated, Kenji Sano, Tetsuya Numaguchi and Japan Post expressly disclaim beneficial ownership of the reported securities."

Aflac Inc., the issuer, is a supplemental insurance company headquartered at 1932 Wynnton Rd, Columbus, GA 31999, and its common stock carries a par value of $0.10 per share, as noted in the filing. The 10.13% ownership percentage is calculated against 494,607,060 shares outstanding as of October 27, 2026, a figure sourced by the filers from Aflac's Form 10-Q filed with the SEC on November 5, 2026. Japan Post Holdings Co., Ltd. is listed on NYSE:AFL's share register as a reporting entity through the trust structure described above.

What Was Disclosed

This Amendment No. 6 to Schedule 13G discloses that five reporting persons, led by Japan Post Holdings Co., Ltd., collectively report beneficial ownership of 50,121,329 shares of Aflac Inc. common stock, equal to 10.13% of shares outstanding as of October 27, 2026, with shares held directly by J&A Alliance Holdings Corporation as trustee.