Japan Post Holdings Co., Ltd. 4

What Happened Japan Post Holdings (reported as a 10% owner) sold a total of 12,800 shares of Aflac Inc. (AFL) in open-market/private sales on June 9, 2026. The filing reports three tranches: 7,238 shares at a weighted-average $115.21 ($833,890), 5,463 shares at $115.71 ($632,124), and 99 shares at $116.51 ($11,534). These were sales (code S), producing aggregate proceeds of approximately $1,477,548. Sales by large institutional holders are often portfolio or trust-management actions rather than insider bets on the business.

Key Details

• Transaction dates and reported prices: 2026-06-09 — 7,238 @ $115.21; 5,463 @ $115.71; 99 @ $116.51.
• Total proceeds: about $1,477,548.
• Shares owned after transaction: not specified in the provided filing.
• Footnotes: Prices are weighted averages across multiple trades; detailed per-trade price breakdowns are available from the filer or SEC staff on request (see F1, F3, F4). The securities are held directly by J&A Alliance Holdings as trustee of the J&A Alliance Trust; Japan Post may be deemed to beneficially own the shares due to its role with the trust but disclaims beneficial ownership except to the extent of any pecuniary interest (see F2).
• Filing timeliness: Transaction date 6/9/2026; filing dated 6/11/2026 — appears to be filed within the usual Section 16 reporting window.

Context This report involves a 10% institutional owner/trust relationship, not a company executive. Such sales frequently reflect institutional rebalancing or trust instructions and do not by themselves indicate management sentiment about the company. The filing notes the trades occurred in multiple executions at prices within disclosed ranges; the filer can provide the exact allocation of shares to each price on request.