Bridgestone has responded to the FIA and F1's decision to retain Pirelli as the sole tyre supplier in the sport.
The Italian manufacturer will continue to supply tyres to all F1, F2 and F3 teams until at least the end of 2027, though there is an option to extend the contract for a further year.
It means Bridgestone, which was Pirelli's sole opposition for the tender, will not make a return having left F1 in 2010.
A statement revealed part of its proposal to F1 and the FIA and read: "As Bridgestone celebrates the 60th anniversary of its motorsport activities in 2023, the company continues to support sustainable global premium motorsport.
"F1 is the world's most prestigious global motorsport platform and Bridgestone has been studying F1 as one of the various options to support its sustainable global premium motorsports strategy.
"Bridgestone has sincerely and continuously been communicating with FIA and FOG regarding the next tire tender period for F1 and proposed advanced innovative technology and sustainability initiatives."
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Bridgestone Corporation Global CEO Shuichi Ishibashi said: "Motorsport is a "challenge for excellence" for Bridgestone and it underpins our Mission "Serving Society with Superior Quality".
"It is a point of pride and passion, and it always will be. Motorsport represents a relentless commitment to the evolution of technology, production, logistics, brand power, and talent development to reinforce the foundation of global premium tire business in 60 years of challenges.
"With this in mind, Bridgestone announced that we are returning to its origin as tire manufacturers and restarting our journey for global motorsports in our 2023 Motorsports plan announcement on March 10."
Reiterating the feedback from the process has backed Bridgestone's innovation, Ishibashi added: "While Bridgestone will not be able to support F1 this time, the process received positive recognition from FIA and FOG and has reinforced the value being created by Bridgestone's advanced innovative technology, including sustainability initiatives across the value chain and the "Ultimate Customization" of its new ENLITEN technology, which can be changed based on the needs of different racing conditions.
"Likewise, Bridgestone will continue to passionately push its technology and innovation through the mobile lab and proving ground that motorsport offers, strengthening its pursuit of sustainable global premium motorsport activities.
"Lastly, through motorsport, Bridgestone will strive to achieve its corporate commitment for "Emotion: Committed to inspiring excitement and spreading joy to the world of mobility" described in its Bridgestone E8 commitment.*1 Through its ongoing efforts, Bridgestone will drive greater passion for motorsport, earn emotion and empathy, and promote co-creation for sustainable future together with many partners."