Having exposed one of the country's biggest corporate scandals, it might seem the last thing the ousted CEO of Olympus Corp. would want is another job at a Japanese company. Not so, says Michael Woodford, who's back in Tokyo for a fresh showdown with the Japanese camera maker.

"I will probably like to come back and be a nonexecutive director of a company in Japan," Mr. Woodford said Thursday during a speech at the Foreign Correspondents' Club of Japan.

The...