We view Aflac Life Insurance Japan Ltd. (Aflac Japan) as a core subsidiary of the U.S.-based insurance group Aflac. We are affirming our 'A+' financial strength and long-term issuer credit ratings on Aflac Japan. The outlook is positive, in line with that on the ratings on other core subsidiaries of the Aflac group. On Oct. 8, 2019, S&P Global Ratings affirmed its 'A+' financial strength and long-term issuer credit ratings on Aflac Life Insurance Japan Ltd. (Aflac Japan). The outlook is positive. The positive outlook is in line with that on the ratings on other core subsidiaries of the U.S.-based insurance group Aflac, which reflects our group credit profile of Aflac and our positive outlook on the long-term sovereign credit
