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Japan Mizuho says lost $6 bln on subprime in 07/08

Thu May 15, 2008 3:27am EDT

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TOKYO, May 15 (Reuters) - Mizuho Financial Group (8411.T), Japan's second-largest bank, said on Thursday it lost 645 billion yen ($6.14 billion) in the year to March 2008 from bad bets on the U.S. subprime mortgage market.

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Mizuho had last month estimated the damage at 565 billion yen.

It said its subprime losses for the January-March quarter amounted to 300 billion yen. ($1=105.07 Yen) (Reporting by David Dolan)

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