Japan's Kawasaki Heavy Industries said it is considering pulling out of the MotoGP racing circuit as the global economic crisis pressures the firm to cut costs.

"The issue is under consideration," a Kawasaki official told AFP on condition of anonymity.

"We have made no decision. We are in contact with parties concerned so that we can decide our future course of action," he said.

The comment came after other Japanese carmakers decided to withdraw from racing to cut costs as consumer demand for new vehicles plummets around the world.

Honda took the shock decision to retire from Formula One racing, while Subaru and Suzuki pulled out of the World Rally Championships.

Kawasaki joined the racing circuit in 2002 to boost its brand image and develop its design technology.

Motor sports media have been rife with reports that the manufacturer has already decided to pull out of MotoGP.