UPDATE 1-Mizuho Financial to raise 800 bln yen - Nikkei

May 15 (Reuters) - Mizuho Financial Group Inc (8411.T) is finalizing plans to raise around 800 billion yen ($8.37 billion), with 600 billion yen likely coming from a common stock offering, the Nikkei business daily reported.

Japan's second-largest bank is considering offering around 200 billion yen in preferred subscription securities as part of the capital raise.

It is likely to be conducted by the end of September. Details of the offering will be out as early as Friday, the paper said.

Analysts expected the bank, which has forecast an annual net loss of $5.9 billion, to raise capital as it already has the weakest Tier 1, or core capital ratio, among Japan's three megabanks.

As of April 23, Mizuho has already raised about $9.4 billion since July through issuing preferred shares and subordinated loans.

($1=95.55 Yen) (Reporting by Sweta Singh in Bangalore; Editing by Jarshad Kakkrakandy)