Japan Post Holdings Co., Ltd. executed two separate sales of Aflac Inc. (NYSE: AFL) common stock on March 18, 2026, disposing of a combined 12,200 shares for an aggregate amount of about $1.32 million.
The share sales were completed at prices spanning $107.76 to $109.18. One block of 7,993 shares was sold at a weighted average price of $108.14, and a second block of 4,207 shares was sold at a weighted average price of $108.99. Those sale prices are close to Aflac’s contemporaneous trading level of $106.65 and sit alongside the company’s stated market capitalization of $55.1 billion.
Following the March 18 transactions, Japan Post Holdings Co., Ltd. indirectly holds 52,088,700 shares of Aflac common stock. The securities in question are held directly by J&A Alliance Holdings Corporation, in its capacity as trustee of the J&A Alliance Trust. Japan Post Holdings Co., Ltd. may be considered to beneficially own the shares held directly by J&A Alliance Holdings as trustee because Japan Post serves as the sole settlor and beneficiary of the trust.
Earnings context
In related corporate disclosures, Aflac reported fourth-quarter 2025 financial results that were mixed versus expectations. The company’s earnings per share for the quarter came in at $1.57, below the consensus forecast of $1.70, representing a negative surprise of 7.65 percent. At the same time, Aflac’s revenue for the quarter amounted to $4.87 billion, exceeding the projected $4.28 billion and constituting a positive surprise of 13.79 percent.
Following those results, Mizuho adjusted its price objective for Aflac shares to $107, up from $104. Despite the higher target, Mizuho retained an Underperform rating on the stock. The firm described the price-target change as a valuation roll-forward and indicated an expected return of negative 6 percent, reflecting its continued cautious stance.
What this means
The March 18 sales represent a modest divestiture relative to Japan Post’s overall indirect holding in Aflac. The company’s remaining indirect stake, as recorded after the trades, remains sizable at 52,088,700 shares. Meanwhile, Aflac’s recent quarterly results show a split picture: a shortfall on EPS measures and an above-expectation revenue performance. An analyst response to those results included a price-target increase but no change to an Underperform rating, highlighting differing signals in valuation and near-term expectations.