Japan Post Holdings Co., Ltd. filed a Form 4 with the SEC on August 27, 2026, disclosing two sales of Aflac Inc. common stock executed on August 25, 2026, pursuant to a Rule 10b5-1 trading plan.

Key Highlights

  • First sale: 12,066 shares of Aflac Inc. common stock were disposed of at a weighted average price of $116.44 per share, with individual transaction prices ranging from $116.135 to $117.12 per share.
  • Second sale: 634 shares were disposed of at a weighted average price of $117.37 per share, with individual transaction prices ranging from $117.15 to $117.64 per share.
  • Remaining ownership: Following both transactions, Japan Post Holdings reported indirect beneficial ownership of 50,765,590 shares of Aflac Inc. common stock.
  • Ownership structure: The shares are held directly by J&A Alliance Holdings Corporation, in its capacity as trustee of the J&A Alliance Trust, of which Japan Post Holdings is the sole settlor and beneficiary.
  • 10b5-1 plan: The filing indicates the transactions were made pursuant to a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
  • Reporting relationship: Japan Post Holdings is identified as a 10% owner of Aflac Inc. (NYSE:AFL).

Japan Post Holdings Reduces Indirect Stake in Aflac Through Rule 10b5-1 Sales

According to the filing, Japan Post Holdings Co., Ltd., headquartered in Tokyo, Japan, sold a combined 12,700 shares of Aflac Inc. common stock on August 25, 2026. The first transaction involved 12,066 shares disposed of at a weighted average price of $116.44 per share, covering individual sales at prices ranging from $116.135 to $117.12. The second transaction covered 634 shares at a weighted average price of $117.37, with individual prices ranging from $117.15 to $117.64 per share.

The filing disclosed that the securities are not held directly by Japan Post Holdings but are instead held by J&A Alliance Holdings Corporation in its capacity as trustee of the J&A Alliance Trust. Japan Post Holdings is described as the sole settlor and beneficiary of that trust. The filing further noted that General Incorporated Association J&A Alliance, Kenji Sano, and Tetsuya Numaguchi may also be deemed to beneficially own the shares, given their respective ownership interests in J&A Holdings. Each of those parties, along with Japan Post Holdings, expressly disclaimed beneficial ownership "except to the extent of its pecuniary interest therein," according to the filing.

After both disposals, Japan Post Holdings reported indirect beneficial ownership of 50,765,590 shares of Aflac Inc. common stock. The filing was signed by Yuki Takemura, Senior General Manager, as attorney-in-fact for Kenji Meguro, and dated August 27, 2026.

What Was Disclosed

Japan Post Holdings reported two sales of Aflac Inc. common stock on August 25, 2026, totaling 12,700 shares, under a Rule 10b5-1 plan. Following the transactions, indirect beneficial ownership stood at 50,765,590 shares, held through J&A Alliance Holdings Corporation as trustee.