Japan Securities Finance Co., a provider of loans and lending services, will restrict short-selling of Olympus Corp. shares from tomorrow, according to Tokyo Stock Exchange Group Inc.’s website.
The shares of the Japanese camera maker plunged by the daily limit today after saying three executives helped conceal decades of losses by paying inflated fees to takeover advisers. That’s the first admission of wrongdoing since accusations from its former chief executive officer engulfed the company four weeks ago.
Bets that the stock will decline climbed to 13 percent of shares outstanding as of Nov. 4, the highest since records began in 2006, according to London-based research firm Data Explorers. That’s more than double the level from three weeks ago.
Olympus, the world’s biggest maker of endoscopes, lost more than half of its market value since firing President Michael C. Woodford on Oct. 14 after he questioned the $687 million in fees paid to advisory firms for the $2 billion takeover of Gyrus in 2008.