Japan Post Holdings Co., Ltd. 4

What Happened
Japan Post Holdings Co., Ltd. (reported as a 10% owner) sold a total of 3,300 shares of Aflac Inc. common stock in open-market/private-sale transactions on June 18, 2026. The filing breaks the sales into two reported lots: 600 shares at a weighted-average price of $116.06 (total ~$69,636) and 2,700 shares at a weighted-average price of $117.11 (total ~$316,197), for combined proceeds of about $385,833. These were sales (not purchases or option exercises) and therefore are not a direct bullish signal.

Key Details

• Transaction dates: 2026-06-18 (both sales). Filing date: 2026-06-23 (filed 5 days after the transactions). This appears later than the usual 2-business-day Form 4 deadline.
• Reported prices and ranges:
  • 600 shares — weighted average $116.06; underlying price range reported $115.47–$116.46 (Footnote F1).
  • 2,700 shares — weighted average $117.11; underlying price range reported $116.515–$117.25 (Footnote F3).
• Total shares sold: 3,300 for ~ $385,833.
• Shares owned after transaction: not specified in this filing.
• Holding structure / beneficial ownership (Footnote F2): the reported securities are held directly by J&A Alliance Holdings as trustee for the J&A Alliance Trust. Japan Post may be deemed to have beneficial ownership due to its role as sole settlor and beneficiary of the Trust; other parties named disclaim beneficial ownership except to the extent of pecuniary interest.

Context
This filing reflects institutional selling by a reported 10% owner via a trust vehicle rather than a corporate officer or director. Such sales can be routine portfolio management by large stakeholders and do not by themselves indicate management views about the company. The apparent late filing (filed 5 days after the trade date) is notable for compliance-minded investors.