Japan Post Holdings Co., Ltd. sold 22,268 shares of Aflac on June 11, 2026, at $116.62 per share, for a total of about $2.60 million. The sale was reported as being made under a pre-scheduled Rule 10b5-1 trading plan, which means the transactions were set up in advance and are typically designed to reduce the appearance of trading based on nonpublic information. This matters mainly because Japan Post Holdings is an “insider” due to its ownership position rather than because it runs Aflac’s day-to-day business. It is not a director or officer, so its transactions generally carry different informational weight than trades made by executives directly responsible for operations and results. The June 11 sale also fits a clear recent pattern: Japan Post has reported multiple sales over the past week, including roughly $557,650 on June 10, $833,890 on June 9, $1.13 million on June 8, and $2.12 million on June 5. Taken together, the clustered activity looks consistent with an orderly, plan-driven reduction rather than a one-off discretionary trade.