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Aflac10-K: Customer concentration

Aflac remains heavily concentrated in Japan, with 53% of revenue and 76% of assets in 2025

Read at SEC EDGAR

What happened

The company's significant reliance on the Japanese market for both revenue (53%) and assets (76%) exposes it to concentrated economic, regulatory, and currency risks. This structural risk highlights the critical importance of operational and financial stability within its Japan segment.

Source

SEC EDGARFeb 25, 2026

Annual report (Form 10-K)

Aflac 10-K for FY2025

Filing excerpt

Aflac Japan's adjusted revenues accounted for 53% of the Company's total adjusted revenues in 2025, compared with 55% in 2024 and 60% in 2023.

sec.gov/Archives/edgar/data/4977/000162828026011402/afl-20251231.htmRead the full source

Other signals in this filing (11)

Extracted by Autobound

From the Signal API record
Signal
10-K: Customer concentration

What this signalsFilings often name leadership changes, deals and spending plans.

Period
FY2025
Fiscal year end
12/31
Filed
Feb 25, 2026

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The full record

From the Signal API record

Numbers

Percent
53% (percentage of total adjusted revenues from Aflac Japan in 2025)

Details

CIK
4977
Accession number
0001628280-26-011402
Timeframe
Current year
Filing year
2026
Why it matters
Diversification strategy
Signal category
Market

Topics and mentions

Regions named

  • Japan

Extraction

Confidence
High
Relevance
70%
Sentiment
Neutral
Detected
Mar 3, 2026
signal_type
sec-10k
signal_subtype
customerConcentration

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The API returns more than this page shows

This page shows a preview. The full sec-10k record in the Signal API and MCP can also have these 8 fields. Some fields are empty for some signals.

Company

  • linkedin_urlValue in the API
  • industriesValue in the API
  • employee_count_lowValue in the API
  • employee_count_highValue in the API
  • revenueValue in the API
  • descriptionValue in the API

Signal

  • signal_nameValue in the API
  • associationValue in the API
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Show the full JSONThe record on this page and the API request

GET /v1/signals/9a994041-c492-44fb-94e6-c4381b3a2d3e returns this record as JSON. POST /v1/companies/enrich returns every signal for aflac.com.

{
  "signal_id": "9a994041-c492-44fb-94e6-c4381b3a2d3e",
  "signal_type": "sec-10k",
  "signal_subtype": "customerConcentration",
  "detected_at": "2026-03-03T05:53:06.651+00:00",
  "company": {
    "name": "Aflac",
    "domain": "aflac.com"
  },
  "data": {
    "detail": "The company's significant reliance on the Japanese market for both revenue (53%) and assets (76%) exposes it to concentrated economic, regulatory, and currency risks. This structural risk highlights the critical importance of operational and financial stability within its Japan segment.",
    "metrics": {
      "pct": 0.53,
      "timeframe": "current_year",
      "pct_context": "percentage of total adjusted revenues from Aflac Japan in 2025"
    },
    "summary": "Aflac remains heavily concentrated in Japan, with 53% of revenue and 76% of assets in 2025",
    "excerpts": "Aflac Japan's adjusted revenues accounted for 53% of the Company's total adjusted revenues in 2025, compared with 55% in 2024 and 60% in 2023.",
    "relevance": 0.7,
    "sentiment": "neutral",
    "confidence": "high",
    "source_url": "https://www.sec.gov/Archives/edgar/data/4977/000162828026011402/afl-20251231.htm",
    "filing_date": "2026-02-25",
    "filing_year": 2026,
    "fiscal_year_end": "12/31",
    "sales_relevance": "Diversification strategy",
    "signal_category": "market",
    "regions_mentioned": [
      "Japan"
    ]
  }
}

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