Japan's MUFG subprime losses $470 mln - Kyodo

TOKYO Jan 16 (Reuters) - Mitsubishi UFJ Financial Group Inc (8306.T), Japan's largest bank, incurred some 50 billion yen ($470 million) in subprime-related losses as of the end of last year, Kyodo news agency said on Wednesday, citing sources close to the matter.

The bank had estimated appraisal losses of 23 billion yen on subprime-related investments as of the end of October.

Shares of Mitsubishi UFJ were down 3.5 percent at 964 yen as of 0050 GMT to underperform a 2.5 percent fall in the benchmark Nikkei average .N225. ($1=106.7 Yen) (Reporting by Aiko Hayashi)