Aflac to Apply for Delisting from TSE

Economy

Tokyo, Aug. 14 (Jiji Press)--U.S. insurance giant Aflac Inc. <8686> said Wednesday it will apply for delisting from the Tokyo Stock Exchange.

The company, which debuted on the TSE's first section in 1987 with the aim of enhancing its name recognition in Japan, decided on the delisting due to low trading volumes.

Aflac plans to submit its delisting application around late August and is expected to get delisted in October. It will remain listed on the New York Stock Exchange.

The insurer, through Aflac Life Insurance Japan Ltd., sells cancer and other insurance products in Japan. In December last year, Japan Post Holdings Co. <6178>, which sells Aflac's products on a commission basis, agreed to acquire an equity stake in Aflac and make the U.S. firm an equity-method affiliate.

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