Olympus Corp said on Wednesday that one of its directors, Makoto Nakatsuka, had resigned and that the company would set up two expert panels -- one to consider legal steps against those responsible for a huge loss cover-up scheme and another to examine the responsibility of auditors.

On Tuesday, a separate external panel delivered a damning report urging legal action against those responsible for the company's concealment of investment losses stretching back two decades and urged legal action against those who were to blame.

(Reporting by Isabel Reynolds; Editing by Chris Gallagher)