Japan Post Holdings Co., Ltd. 4

What Happened Japan Post Holdings Co., Ltd. (reported as a 10% owner) sold a total of 10,100 shares of Aflac Inc. (AFL) in open-market transactions on March 19, 2026, generating roughly $1,084,828 in proceeds. The filing shows two reported trades: 8,800 shares at a reported weighted-average price of $107.28 (≈ $944,064) and 1,300 shares at a reported weighted-average price of $108.28 (≈ $140,764). These were sales (not purchases), which are commonly routine disposals by institutional holders and do not necessarily indicate a change in company fundamentals.

Key Details

• Transaction date: 2026-03-19 (filed 2026-03-23; filing appears timely).
• Reported trades: 8,800 shares @ $107.28 (≈ $944,064) and 1,300 shares @ $108.28 (≈ $140,764); total ≈ $1,084,828.
• Footnotes:
  • F1/F3: Each reported price is a weighted average covering multiple trades within price ranges (8,800-share trades ranged $106.74–$107.73; 1,300-share trades ranged $107.75–$108.62). Detailed per-trade breakdown is available to the SEC/issuer on request.
  • F2: The shares are held directly by J&A Alliance Holdings as trustee for the J&A Alliance Trust. General Incorporated and Kenji Sano may be deemed beneficial owners of those trust-held shares, and Japan Post may be deemed to have a pecuniary interest as sole settlor/beneficiary; each party disclaims beneficial ownership except to the extent of pecuniary interest.
• Shares owned after transaction: Not specified in the provided filing summary.

Context This filing reports institutional selling by a reported 10% owner (not an individual company executive). Sales by large holders are common and, by themselves, are less informative than insider purchases when assessing insider sentiment. The filing’s footnotes clarify the trust/ownership structure and that the reported prices are weighted averages of multiple trades.