It was mentioned several weeks ago that Toyota were planning on pulling the plug on hosting the Japanese Grand Prix at their privately owned Fuji International circuit due to the economic downturn and today the highly speculated move has been made official.

It appears as if last season’s round at the circuit was the last with this year’s Japanese Grand Prix scheduled to run at the Suzuka track and alternating back to Mount Fuji in 2010.

However, with this news, the 2010 event will to take place and will more than likely remain at Suzuka where officials wanted it to stay in the first place.

"I apologise deeply for being unable to live up to expectations," Hiroaki Kato, President of Fuji International Speedway said in a statement.