Japan's Mizuho to cut 2007/08 outlook again -paper

TOKYO, April 11 (Reuters) - Mizuho Financial Group Inc (8411.T) will slash its net profit estimate for the year ended March 31 for a third time to reflect larger-than-expected subprime losses at unit Mizuho Securities, the Nikkei said on Friday.

The second-largest lender in Japan is likely to announce the revised estimate later on Friday, the business daily said.

The Mizuho group's subprime-linked losses could top 400 billion yen, the business daily said.

Mizuho currently expects a net profit of 480 billion yen ($4.7 billion) for the year that ended in March, down 36 percent from its original estimate.

Ballooning subprime losses at unlisted Mizuho Securities have already forced the group to push back the planned merger of Mizuho Securities and fellow Mizuho affiliate Shinko Securities Co 8606.T to 2009 from January of this year. (Editing by Hugh Lawson)