Japanese GP's future in doubt?

Japanese media are reporting that Toyota Motor Corporation is set to pull the plug on the 2010 Japanese Grand Prix.

Kyodo News agency claimed on Wednesday that the Japanese manufacturer is set to ditch the prestigious F1 race at the Fuji Speedway next year.

Toyota refused to confirm or deny the reports.

A spokesperson for the company told AFP: "We have heard that (Fuji Speedway) is making various considerations toward its hosting next year."

The Fuji Speedway hosted races in 2007 and 2008 following a 30-year F1 absence. Honda's Suzuka Circuit will this year's Japanese Grand Prix after which the race is set to return to Fuji.

The global economic recession has taken its toll on Toyota. The company is forecasting a net loss of $5.7 billion for the 2010 fiscal year