J&A Alliance reports 10.14% stake in Aflac

Aflac Inc. Schedule 13G/A discloses that J&A Alliance Holdings Corporation, together with related entities and individuals, is reported to hold 51,636,945 shares of Common Stock, representing 10.14% of the class based on April 28, 2026 outstanding shares.

Rhea-AI Filing Summary

Aflac Inc. Schedule 13G/A discloses that J&A Alliance Holdings Corporation, together with related entities and individuals, is reported to hold 51,636,945 shares of Common Stock, representing 10.14% of the class based on April 28, 2026 outstanding shares. The filing states the 508,984,904 shares outstanding figure used to calculate the percentage and also lists a shared dispositive power figure of 51,612,845. The filing notes that General Incorporated Association J&A Alliance, its principals and Japan Post Holdings expressly disclaim beneficial ownership of the reported securities.

Insights

Institutional Ownership Analyst

Large passive stake reported; ownership attribution is qualified.

The filing identifies J&A Alliance Holdings Corporation as holding 51,636,945 shares (reported) or a closely matching dispositive figure of 51,612,845 in the tabular section, equal to 10.14% of Common Stock as of April 28, 2026.

Although the numeric stake is material at the institutional level, the report includes explicit disclaimers of beneficial ownership by affiliated entities and individuals; subsequent disclosures or clarifying amendments would resolve the attribution and any governance implications.

Corporate Governance Specialist

Filing emphasizes dispositive power and trust relationships, not a change in control action.

The filing explains that shares are held by J&A Holdings in its capacity as trustee of a trust for which Japan Post Holdings is settlor and beneficiary, and that ownership flows through a chain of entities and individuals.

The operative qualifiers and disclaimers matter: the filing ties voting/dispositive descriptions to the trust structure and records the parties' disclaimers; governance impact depends on whether voting or disposition rights are exercised and on future filings.

Key Figures

Reported shares beneficially owned: 51,636,945 shares Shared dispositive power (tabular): 51,612,845 shares Percent of class: 10.14% +1 more

4 metrics

Reported shares beneficially owned 51,636,945 shares Amount held directly by J&A Alliance Holdings as trustee (Item 4(a))

Shared dispositive power (tabular) 51,612,845 shares Shared dispositive power shown in the tabular section

Percent of class 10.14% Calculated using outstanding shares as of <date>April 28, 2026</date>

Shares outstanding used 508,984,904 shares Outstanding shares reported in issuer's Form 10-Q cited in the filing

Key Terms

beneficially own, dispositive power, settlor

3 terms

beneficially own regulatory

"Item 4(a) states General Incorporated "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

"Table shows "Shared Dispositive Power 51,612,845.00" as part of the ownership table"

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 legal

"Item 4(a) references Japan Post as the "sole settlor and beneficiary of the Trust""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does J&A Alliance report in Aflac (AFL)?

The filing reports 51,636,945 shares, equal to 10.14% of common stock. This percentage uses 508,984,904 shares outstanding as of April 28, 2026 from the issuer's Form 10-Q.

Does the Schedule 13G/A state who controls the Aflac shares?

The filing records shared dispositive power figures and trust relationships but does not assert sole control. It describes holdings via a trust and includes disclaimers of beneficial ownership by affiliates and individuals.

Why are there multiple entity names on the Aflac (AFL) filing?

Multiple parties are listed because the shares are held by J&A Alliance Holdings as trustee and related entities/individuals are disclosed due to ownership interests and governance links within the holding structure.

What outstanding-share figure does the Aflac (AFL) filing use to compute ownership?

The filing uses 508,984,904 shares outstanding as of April 28, 2026, cited from the issuer's Form 10-Q filed on May 6, 2026, to compute the 10.14% figure.

Do the parties claim beneficial ownership of the reported Aflac shares?

No; the filing states that General Incorporated Association J&A Alliance, its principals and Japan Post Holdings expressly disclaim beneficial ownership of the reported securities in Item 4(a).

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/13/2026 - 02:50 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. 4)

Aflac Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

001055102

(CUSIP Number)

05/11/2026

(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 51,612,845.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

51,612,845.00

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)

10.14 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: Percent of class shown in Row 11 is based on 508,984,904 shares of common stock of Aflac Inc. (the "Issuer"), par value $0.10 per share ("Common Stock") outstanding as of April 28, 2026, as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on May 6, 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 51,612,845.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 51,612,845.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

51,612,845.00

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)

10.14 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: Percent of class shown in Row 11 is based on 508,984,904 shares of Common Stock outstanding as of April 28, 2026, as reported in the Issuer's Form 10-Q filed with the SEC on May 6, 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 51,612,845.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

51,612,845.00

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)

10.14 %

12

Type of Reporting Person (See Instructions)

FI

Comment for Type of Reporting Person: Percent of class shown in Row 11 is based on 508,984,904 shares of Common Stock outstanding as of April 28, 2026, as reported in the Issuer's Form 10-Q filed with the SEC on May 6, 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 51,612,845.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

51,612,845.00

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)

10.14 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Percent of class shown in Row 11 is based on 508,984,904 shares of Common Stock outstanding as of April 28, 2026, as reported in the Issuer's Form 10-Q filed with the SEC on May 6, 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 51,612,845.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

51,612,845.00

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)

10.14 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Percent of class shown in Row 11 is based on 508,984,904 shares of Common Stock outstanding as of April 28, 2026, as reported in the Issuer's Form 10-Q filed with the SEC on May 6, 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: 51,636,945 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: 10.14 %
(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 Nobuyasu Kato
Date:	05/13/2026

J&A Alliance Holdings Corporation

Signature:	/s/ Hiroki Moriyama
Name/Title:	Hiroki Moriyama/President
Date:	05/13/2026

General Incorporated Association J&A Alliance

Signature:	/s/ Kenji Sano
Name/Title:	Kenji Sano/Representative Director
Date:	05/13/2026

Kenji Sano

Signature:	/s/ Kenji Sano
Name/Title:	Kenji Sano
Date:	05/13/2026

Tetsuya Numaguchi

Signature:	/s/ Tetsuya Numaguchi
Name/Title:	Tetsuya Numaguchi
Date:	05/13/2026