Japan Post Holdings Co., Ltd. 4

What Happened Japan Post Holdings Co., Ltd., reported as a greater-than-10% owner of Aflac Inc. (AFL), sold a total of 19,900 shares of AFL common stock in open-market transactions on March 4, 2026. The filing lists two disposals: 7,756 shares at $112.14 per share ($869,758) and 12,144 shares at $112.55 per share ($1,366,807), for combined proceeds of approximately $2,236,565. The filing notes these sales occurred as multiple transactions and reports weighted-average price ranges for each block.

Key Details

• Transaction dates: March 4, 2026; Form 4 filed March 6, 2026 (timely filing).
• Reported trades: 7,756 shares @ $112.14 = $869,758; 12,144 shares @ $112.55 = $1,366,807; total ≈ $2,236,565.
• Footnotes on pricing: First block weighted-average prices ranged $111.39–$112.39 (footnote F1); second block ranged $112.40–$112.91 (footnote F3). The filer can provide the per-transaction breakdown to the company or SEC on request.
• Ownership/beneficial owner note (footnote F2): The shares are held directly by J&A Alliance Holdings as trustee of the J&A Alliance Trust. General Incorporated Association J&A Alliance and Kenji Sano may be deemed to beneficially own those shares; Japan Post may be deemed a beneficial owner as sole settlor and beneficiary of the Trust, though each party disclaims beneficial ownership except to the extent of pecuniary interest.
• Shares owned after transaction: Not specified in the excerpt provided.

Context These are sales by a large institutional holder (reported as >10% owner), not an executive-level buy or sale. Sales by institutional/beneficial owners are often routine portfolio activity and do not necessarily signal management view; no purchase or option exercise occurred here. The filing is timely (filed two days after the reported transactions).