Japan Post Holdings Trims AFLAC ($AFL) Stake via Pre-Arranged Plan

Overview & Context

On October 6, 2026, Japan Post Holdings Co., Ltd., a 10% beneficial owner of Aflac Inc. ($AFL), filed a Form 4 detailing the sale of 13,200 shares of common stock executed on October 2, 2026. The sales were carried out under a pre-established Rule 10b5-1 trading plan.

Transaction Breakdown

The transactions were completed indirectly through J&A Alliance Holdings Corporation, acting as trustee of the J&A Alliance Trust, of which Japan Post is the sole settlor and beneficiary:

• Batch 1: 5,671 shares sold at a weighted average price of $110.93 (range: $110.47 – $111.45).
• Batch 2: 7,529 shares sold at a weighted average price of $111.57 (range: $111.48 – $111.78).
• Total Volume: 13,200 shares.
• Aggregate Proceeds: ~$1,469,094.56.

Stake Impact & Significance

• Remaining Ownership: 50,420,190 shares.
• Relative Scale: The disposal represents less than 0.03% of Japan Post's total indirect stake in Aflac, indicating routine portfolio administration rather than a shift in institutional conviction.
• Significance Rating: Low. The structured nature of the 10b5-1 execution combined with the negligible size relative to their total multi-billion dollar holding minimizes market impact.