According to the Tokyo Stock Exchange, it was considering moving the Tokyo-based company to a watch list for possible delisting because of accounting fraud (See: Tokyo bourse puts Olympus on delisting watch).

The rules of Tokyo exchange require, a company guilty of having falsified earnings statements to be first placed under the ''watch list'' post, where it is kept for a month. During that period, the exchange, the scale of the wrongdoing is reviewed, including whether the falsification was done in an organised manner.

In October Japanese prime minister Yoshihiko Noda admitted that the scandal relating to controversial payments made by camera-maker Olympus could tarnish his country's image. (See: Japanese premier expresses concern over Olympus scam) 

Also today is the last day for Japanese companies to file earnings reports for the last quarter. The company had  deferred the release of second-quarter earnings from 8 November due to a probe into $1.4 billion of writedowns and fees related to acquisitions. The company said 10 November it would likely miss today's deadline and aimed for filing by 14 December.

Meanwhile, in a report, Asahi Shimbun also reported Saturday that Koji Miyata, a former Olympus executive, had started a signature drive for the return of ousted president Michael Woodford, who was sacked following asking the board for explanations over the inflated payments.

It also reported, yesterday that Japan's securities watchdog may seek criminal charges against the individuals who pulled off the dubious M&A deals in one of corporate Japan's biggest governance scandals, quoting the source.

Meanwhile, investors remain keen on avoiding a delisting of the company, which has a strong presence in the lucrative business in diagnostic endoscopes, where it enjoys a dominant global market share of 70 percent or more, remains strong.

(Also see: Japanese camera maker Olympus forced to probe high M&A advisory payments)