Aflac (AFL): J&A Alliance and Japan Post report 10.15% ownership stake

Rhea-AI Filing Summary

J&A Alliance Holdings Corporation, as trustee of the J&A Alliance Trust, reports beneficial ownership of 50,885,690 shares of Aflac Inc. common stock, representing 10.15% of the class. The ownership percentage is based on 501,343,298 shares outstanding as of July 28, 2026.

General Incorporated Association J&A Alliance, Japan Post Holdings Co., Ltd., and individuals Kenji Sano and Tetsuya Numaguchi may be deemed to beneficially own these shares through their interests in the trust and its owner, but each expressly disclaims beneficial ownership of the reported securities.

Key Figures

Shares beneficially owned: 50,885,690 shares Ownership percentage: 10.15% Shares outstanding: 501,343,298 shares

3 metrics

Shares beneficially owned 50,885,690 shares Aflac common stock held via J&A Alliance Holdings as trustee of the J&A Alliance Trust

Ownership percentage 10.15% Portion of Aflac common stock class reported as beneficially owned

Shares outstanding 501,343,298 shares Aflac common stock outstanding as of July 28, 2026, per Form 10-Q

Key Terms

beneficially own, dispositive power, settlor, trustee, +1 more

5 terms

beneficially own financial

"each may be deemed to beneficially own the securities held by J&A Holdings"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

dispositive power financial

"Sole Dispositive Power 0.00 8 | Shared Dispositive Power 50,885,690.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

settlor financial

"due to its role as the sole settlor and beneficiary of the Trust"

trustee financial

"held directly by J&A Alliance Holdings Corporation ("J&A Holdings"), in its capacity as the trustee"

A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.

percent of class financial

"Percent of class shown in Row 11 is based on 501,343,298 shares"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

FAQ

How many Aflac (AFL) shares are reported as beneficially owned in this Schedule 13G/A?

The filing reports 50,885,690 shares of Aflac common stock as beneficially owned through J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust. This stake is the basis for the reported 10.15% ownership of the outstanding common shares.

What percentage of Aflac (AFL) common stock is held according to this Schedule 13G/A?

The reported stake represents 10.15% of Aflac’s common stock. This percentage is calculated using 501,343,298 shares outstanding as of July 28, 2026, as reported in Aflac’s Form 10-Q filed with the SEC on August 7, 2026.

Who is the direct holder of the Aflac (AFL) shares reported in this Schedule 13G/A?

The 50,885,690 shares are held directly by J&A Alliance Holdings Corporation in its capacity as trustee of the J&A Alliance Trust. Other listed parties are related through ownership or beneficiary roles rather than direct shareholding.

How is Japan Post Holdings Co., Ltd. related to the Aflac (AFL) shares in this filing?

Japan Post Holdings Co., Ltd. may be deemed to beneficially own the shares because it is the sole settlor and beneficiary of the J&A Alliance Trust. Despite this deemed status, Japan Post expressly disclaims beneficial ownership of the reported securities.

Why do multiple parties appear as filers on this Aflac (AFL) Schedule 13G/A?

J&A Alliance Holdings, General Incorporated Association J&A Alliance, Japan Post Holdings, Kenji Sano, and Tetsuya Numaguchi are listed because of their ownership and control links to the trust structure. Each may be deemed a beneficial owner but disclaims beneficial ownership of the shares.

On what share count is the 10.15% Aflac (AFL) ownership calculation based?

The 10.15% ownership is based on 501,343,298 shares of Aflac common stock outstanding as of July 28, 2026. That outstanding share figure comes from Aflac’s Form 10-Q filed with the SEC on August 7, 2026.

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Available on EDGAR 08/14/2026 - 04:13 PM Accepted by SEC EDGAR 08/14/2026 - 04:05 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Aflac Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

001055102

(CUSIP Number)

08/12/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 001055102

1

Names of Reporting Persons

Japan Post Holdings Co., Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

JAPAN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 50,885,690.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

50,885,690.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.15 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: Percent of class shown in Row 11 is based on 501,343,298 shares of common stock of Aflac Inc. (the "Issuer"), par value $0.10 per share ("Common Stock") outstanding as of July 28, 2026, as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on August 7, 2026.

SCHEDULE 13G

CUSIP Number(s): 001055102

1

Names of Reporting Persons

J&A Alliance Holdings Corporation

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 50,885,690.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 50,885,690.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

50,885,690.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.15 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: Percent of class shown in Row 11 is based on 501,343,298 shares of Common Stock outstanding as of July 28, 2026, as reported in the Issuer's Form 10-Q filed with the SEC on August 7, 2026.

SCHEDULE 13G

CUSIP Number(s): 001055102

1

Names of Reporting Persons

General Incorporated Association J&A Alliance

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

JAPAN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 50,885,690.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

50,885,690.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.15 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: Percent of class shown in Row 11 is based on 501,343,298 shares of Common Stock outstanding as of July 28, 2026, as reported in the Issuer's Form 10-Q filed with the SEC on August 7, 2026.

SCHEDULE 13G

CUSIP Number(s): 001055102

1

Names of Reporting Persons

Kenji Sano

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

JAPAN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 50,885,690.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

50,885,690.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.15 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Percent of class shown in Row 11 is based on 501,343,298 shares of Common Stock outstanding as of July 28, 2026, as reported in the Issuer's Form 10-Q filed with the SEC on August 7, 2026.

SCHEDULE 13G

CUSIP Number(s): 001055102

1

Names of Reporting Persons

Tetsuya Numaguchi

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

JAPAN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 50,885,690.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

50,885,690.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.15 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Percent of class shown in Row 11 is based on 501,343,298 shares of Common Stock outstanding as of July 28, 2026, as reported in the Issuer's Form 10-Q filed with the SEC on August 7, 2026.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Aflac Inc.
(b)	Address of issuer's principal executive offices: 1932 WYNNTON RD, COLUMBUS, GA 31999
Item 2.
(a)	Name of person filing: J&A Alliance Holdings Corporation General Incorporated Association J&A Alliance Japan Post Holdings Co., Ltd. Kenji Sano Tetsuya Numaguchi
(b)	Address or principal business office or, if none, residence: J&A Alliance Holdings Corporation c/o J&A Alliance Trust 1501, North Tower, Yurakucho Denki Building, 7-1, Yurakucho 1-chome, Chiyoda-ku Tokyo, 100-0006, Japan General Incorporated Association J&A Alliance Tokyo Kyodo Accounting Office 3-1-1 Marunouchi, Chiyoda-ku Tokyo 100-0005, Japan Japan Post Holdings Co., Ltd. 2-3-1, Otemachi, Chiyoda-ku Tokyo 100-8791, Japan Kenji Sano c/o General Incorporated Association J&A Alliance Tokyo Kyodo Accounting Office 3-1-1 Marunouchi, Chiyoda-ku Tokyo 100-0005, Japan Tetsuya Numaguchi c/o General Incorporated Association J&A Alliance Tokyo Kyodo Accounting Office 3-1-1 Marunouchi, Chiyoda-ku Tokyo 100-0005, Japan
(c)	Citizenship: J&A Alliance Holdings Corporation is a corporation organized under the laws of the State of Delaware. General Incorporated Association J&A Alliance is a general incorporated association organized under the laws of Japan. Japan Post Holdings Co., Ltd. is a corporation organized under the laws of Japan. Kenji Sano and Tetsuya Numaguchi are citizens of Japan.
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 001055102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 50,885,690 shares of Common Stock are held directly by J&A Alliance Holdings Corporation ("J&A Holdings"), in its capacity as the trustee of the J&A Alliance Trust (the "Trust"). General Incorporated Association J&A Alliance ("General Incorporated"), Kenji Sano and Tetsuya Numaguchi each may be deemed to beneficially own the securities held by J&A Holdings (in its capacity as trustee of the Trust) because (i) General Incorporated owns J&A Holdings and (ii) Kenji Sano and Tetsuya Numaguchi each own 50% of the equity interests in General Incorporated. Japan Post Holdings Co., Ltd. ("Japan Post") may be deemed to beneficially own the shares of common stock owned directly by J&A Holdings, in its capacity as the trustee of the Trust, due to its role as the sole settlor and beneficiary of the Trust. Each of General Incorporated, Kenji Sano, Tetsuya Numaguchi and Japan Post expressly disclaim beneficial ownership of the reported securities.
(b)	Percent of class: 10.15 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 4(a).
	(ii) Shared power to vote or to direct the vote: See Item 4(a).
	(iii) Sole power to dispose or to direct the disposition of: See Item 4(a).
	(iv) Shared power to dispose or to direct the disposition of: See Item 4(a).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Japan Post Holdings Co., Ltd.

Signature:	/s/ Yuki Takemura
Name/Title:	Yuki Takemura/Attorney-in-Fact for Kenji Meguro
Date:	08/14/2026

J&A Alliance Holdings Corporation

Signature:	/s/ Hiroki Moriyama
Name/Title:	Hiroki Moriyama/President
Date:	08/14/2026

General Incorporated Association J&A Alliance

Signature:	/s/ Kenji Sano
Name/Title:	Kenji Sano/Representative Director
Date:	08/14/2026

Kenji Sano

Signature:	/s/ Kenji Sano
Name/Title:	Kenji Sano
Date:	08/14/2026

Tetsuya Numaguchi

Signature:	/s/ Tetsuya Numaguchi
Name/Title:	Tetsuya Numaguchi
Date:	08/14/2026

Comments accompanying signature: Exhibit 24.1 - Power of Attorney (incorporated by reference to Exhibit 99.1 of Form N-PX filed by Japan Post Holdings Co., Ltd. on July 10, 2026)