Tokyo - Mizuho Financial Group Inc on Thursday announced a plan to increase its capital by issuing preferred subscription securities and establishing a wholly-owned subsidiary company in the Cayman Islands amid the global financial crisis.

The preferred securities, which are not convertible to common shares, would be sold mainly to Japanese insurance companies, the firm said.

Mizuho Financial was expected to issue about 300 billion yen (3.08 billion dollars) in the securities by the end of the year, according to media reports.

Tokyo - The Japanese government Thursday denied a report that it planned to reduce the catch quota in its "research whaling" this autumn.

Earlier Thursday the Japanese daily Asahi Shimbun reported that Japan planned to reduce the whale kill quota in the Antarctic Ocean by about 20 per cent to 750 whales, which would cut the annual catch by 10 per cent.

But a spokesman at the Japan Whaling Section of the Fisheries Ministry denied the report, while adding that the ministry had made no decision on the issue.

Tokyo - Asian stock markets were in a downward spiral Thursday, tracking overnight losses on Wall Street and falling on persistent worries over a US recession.

The Tokyo stock market extended its losing streak with the Nikkei 225 Stock Average falling 456.87 points, or 5.25 per cent, to close at 8,238.64, a two-week low.

The broader Topix index of all first-section issues was also down 4.31 per cent at 837.53.

Exporters' shares were also hurt by a stronger yen, which reduces Japanese firms' earnings overseas.

Tokyo - The Tokyo stock market extended its losing streak to end Thursday trading lower as the market sentiment was dampened due to persistent worries over the US economy and the yen trading stronger against other currencies.

The Nikkei 225 Stock Average tumbled 456.87 points, or 5.25 per cent, to close at 8,238.64, a two-week low.

The broader Topix index of all first-section issues was also down 37.7 points, or 4.31 per cent, to 837.53.

Exporters were hurt by the stronger yen as it shaves off Japanese firms' earnings overseas.

Wellington - Greenpeace, an international environmental organization, hailed the beginning of the end of Japanese whaling in the Antarctic on Thursday following news reports of the first cut in the season's target kill for 21 years.

A Greenpeace statement quoted Japan's Asahi Shimbun newspaper as saying that Japan cut its target of whales to be caught in the Southern Ocean for its so-called scientific programme this year by 20 per cent.

Tokyo - Japan's key Nikkei 225 Stock Average fell more than 5 per cent in Thursday morning trading as the market sentiment was dampened due to persistent worries over the US economy and the yen trading stronger against other currencies.

The Nikkei index tumbled 5.12 per cent, or 445.46 points to 8,250.05.

The broader Topix index of all first-section issues also fell 36.84 points, or 4.21 per cent, to 838.39.

Exporters were hurt by the stronger yen as it shaves off Japanese firms' earnings overseas.