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Japan/US: Japan Post in talks to buy US$2.6B stake in Aflac

By  |  December 16, 2018

Japan Post Holdings is in discussions to buy a minority stake in the US insurance company Aflac for roughly US$2.6 billion, capping a record year for overseas merger and acquisition activity by Japanese companies. The talks, first reported by Nikkei, were confirmed by Aflac in a press release which stated Japan Post would buy the shares in the secondary market.

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    The US company stated “the discussions do not involve Aflac Incorporated or any of its subsidiaries becoming a member of the Japan Post Group.” Nikkei reported that the Japanese company is planning to buy a stake of 7% or 8%.

    While based in the US state of Georgia, two-thirds of Aflac’s earnings are generated in Japan, where it specializes in cancer insurance. The company sells supplemental insurance covering, for example, disability and critical illness.

    Full Content: Asia Nikkei

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