Goldman Sachs Securities has lowered its stake in Olympus Corp. (7733.TO) to 3.78% from 6.67% as of Nov. 30, according to a filing submitted to the Finance Ministry Wednesday.

Last month, regulatory filings showed that three Goldman Sachs units had raised their combined stake in Olympus to 6.67%, suggesting that some institutional investors were increasing their holdings in the scandal-hit company amid highly volatile share trading.

Olympus shares finished down 5.2% at Y1,128 on the Tokyo Stock Exchange Wednesday, up from a 2011 low of Y424 on Nov. 11, but well below the year's high of Y2,835 on June 21.

On Tuesday, an independent panel appointed by Olympus released the findings of its four-week investigation into the loss-hiding schemes at the Japanese medical equipment and camera maker. The panel said Olympus used $1.7 billion in payments related to acquisitions to account for the massive losses it had been hiding outside its books through the tenures of two chief executives.

-By Tokyo Bureau, Dow Jones Newswires; 813-6269-2770

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