Aflac Incorporated Further Strengthens its Relationship with Japan Post Holdings

2018/12/19 Japan
⠀ AFL announced that it has "further strengthened its longstanding distribution and business relationship with Japan Post Holdings. " Japan Post Holdings plans to purchase approximately 7% of AFL outstanding common shares through a trust. This investment is being accomplished on a non-dilutive basis to the shareholders, as all shares will be purchased through open market or private block purchases in the United States, the company said in a statement. In addition, the agreement does not change сompany outlook to repurchase an expected range of $1.3B-$1.7B of its common shares in 2019. ⠀ JPH will not have a board seat on AFL board and will not have rights to control, manage or intervene in the management of the company. The strategic investment is subject to certain regulatory approvals in Japan and the U.S. Regulatory approvals are anticipated in the second half of 2019.
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