Mizuho Financial Group (MFG) surged 5.05% in intraday trading Thursday, driven by robust fiscal first-quarter results and a significant expansion of its share repurchase program.

The Japanese banking giant reported a 46% surge in profit attributable to owners to 422.9 billion yen, with earnings per share rising to 173.53 yen from 115.90 yen a year earlier. Ordinary income climbed 18% to 2.521 trillion yen, reflecting strong operational performance across the group. The company also raised its full-year profit outlook following the strong quarter.

Adding to investor optimism, Mizuho doubled its share buyback program to 200 billion yen and extended the repurchase period. The company plans to cancel all repurchased shares, which further supports shareholder returns and underscores management's confidence in the business outlook.