Japan Post Holdings Trims Position in Aflac Under Rule 10b5-1 Plan

Transaction Overview

On September 24, 2026, Japan Post Holdings Co., Ltd., a 10% beneficial owner of Aflac Inc. ($AFL), executed sales totaling 12,100 shares of common stock across two weighted-average tranches for aggregate gross proceeds of approximately $1.39 million:

1. 7,207 shares sold at a weighted average price of $114.21 (range: $113.84 to $114.825).
2. 4,893 shares sold at a weighted average price of $115.28 (range: $114.85 to $115.83).

The transactions were flagged under an affirmative defense Rule 10b5-1 trading plan (<aff10b5One>1</aff10b5One>).

Nature of Beneficial Ownership

The shares are held indirectly through J&A Alliance Holdings Corporation, acting as trustee of the J&A Alliance Trust, with Japan Post Holdings Co., Ltd. being the sole settlor and beneficiary of the trust.

Holding Context & Trading Significance

• Position Size Post-Sale: 50,481,490 shares.
• Impact: The sale of 12,100 shares constitutes roughly 0.024% of Japan Post's indirect holding in Aflac.
• Significance Level: Low. The disposition represents a negligible fractional rebalancing under a pre-scheduled Rule 10b5-1 plan, leaving an immense core holding of over 50 million shares intact.