Japanese tyre makers Bridgestone confirmed their long-term commitment to Formula One on Thursday, dismissing speculation that they might quit at the end of next year.

The company, who work closely with world champions Ferrari, said in a statement that "it has no intention of withdrawing from the FIA Formula One world championship."

"There has never been a moment that Bridgestone has thought of withdrawing from Formula One since our entry back in 1997," said Bridgestone motorsport director Hiroshi Yasukawa.

Reports in the European media had speculated that Bridgestone, facing strong competition from rivals Michelin who supply Williams and McLaren, might be preparing to pull out.

Bridgestone have won the last five constructors' and drivers' championships.