Japan Post Holdings Sells $1.58M of Aflac Inc. Under Rule 10b5-1 Plan

Insider Transaction Overview

On September 2, 2026, Japan Post Holdings Co., Ltd., a 10% beneficial owner of Aflac Inc. ($AFL), executed a sale of 13,500 shares of common stock at a weighted-average price of $117.19 per share (price range: $116.67 to $117.50), resulting in gross proceeds of approximately $1.58 million.

Transaction Details

• Security: Common Stock
• Transaction Code: S (Open market or private sale)
• Shares Sold: 13,500
• Price per Share: $117.19
• Total Transaction Value: $1,582,065.00
• Post-Transaction Position: 50,687,690 shares
• Ownership Type: Indirect (Held through J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust)
• Rule 10b5-1 Adoption: Yes, transaction conducted under an affirmative defense Rule 10b5-1 trading arrangement

Market & Strategic Impact

• Stake Context: The 13,500 shares sold represent less than 0.03% of Japan Post's overall holding of over 50.6 million shares in Aflac.
• Significance: Low. Given the minimal size relative to Japan Post's multi-billion-dollar stake and the presence of a pre-arranged Rule 10b5-1 plan, this transaction is routine portfolio maintenance rather than a change in strategic conviction.