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Mizuho Sec may see 100 bln subprime loss -paper
TOKYO |
TOKYO Nov 9 (Reuters) - Japan's Mizuho Securities, the unlisted brokerage arm of Mizuho Financial Group (8411.T), may have suffered as much as 100 billion yen ($889 million) in subprime-related losses, causing a delay in its planned merger with Shinko Securities Co Ltd 8606.T, the Nikkei newspaper said on Friday.
Mizuho Financial, Japan's second-largest bank, said on Monday it may be forced to change the share swap ratio to be used in the merger after its brokerage arm posted a first-half loss on subprime investments.
Shares of Mizuho fell 5.3 percent to 533,000 yen. ($1=112.49 Yen)
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