Overview
Japan Post Holdings Co., Ltd. executed a sale of 14,700 shares of common stock in Aflac Inc. (NYSE: AFL) on March 30, 2026, according to a Form 4 filed with the U.S. Securities and Exchange Commission. The transactions generated total proceeds of approximately $1.59 million, with execution prices ranging from $107.07 to $108.89 per share.
Holding structure and remaining stake
The filing specifies that the Aflac shares were held indirectly through J&A Alliance Holdings Corporation, acting as trustee of the J&A Alliance Trust. Japan Post is identified in the filing as the sole settlor and sole beneficiary of that trust. After completing the sale, Japan Post Holdings continues to indirectly own 51,974,500 shares of Aflac.
Market context and valuation note
At the time of the report, Aflac's common stock was trading at $109.36. An InvestingPro analysis cited in the report indicates that the shares are assessed as slightly overvalued relative to InvestingPro's Fair Value estimate.
Recent financials for Aflac
In related corporate disclosures, Aflac released fourth-quarter 2025 financial results showing a divergence between earnings and revenue versus expectations. The company's earnings per share (EPS) for the quarter were $1.57, falling short of the consensus forecast of $1.70 - a downside surprise of 7.65 percent. Revenue for the same period came in at $4.87 billion, above the forecast of $4.28 billion, representing an upside surprise of 13.79 percent.
Analyst update
Mizuho revised its price target on Aflac's stock to $107 from $104, while keeping an Underperform rating. The firm characterized the change as a valuation roll-forward; its maintained rating reflects an anticipated negative return of 6 percent for the stock under its current view.
Context and limits of the record
The Form 4 filing provides the transactional details and the trust arrangement through which Japan Post holds its Aflac shares. The SEC filing and the company financials cited above are the factual bases for the reported sale, remaining stake, and the recent earnings and revenue figures. The information presented here does not attempt to explain motives for the sale beyond what the filing records, nor does it extrapolate future share-price movements.