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

 |  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.

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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