Tokyo - Mizuho Financial Group Inc, Japan's second-largest bank, on Friday lowered its earnings for the recently ended fiscal year for a third time because of losses related to the US subprime mortgage crisis.

Net income for the year that ended March 31 fell to 310 billion yen (3 billion dollars), or 50 per cent from the year before, the Tokyo-based bank said in a preliminary earnings report.

Its first earnings estimate was more than double that figure at 750 billion yen. It then downgraded the estimate to 480 billion yen in January.

Analysts said they fear other Japanese banks could also miss their earnings targets.

Mizuho estimated its losses related to the US credit crisis at 565 billion yen. (dpa)