Suzuki have withdrawn from motorcycling's premier MotoGP championship until at least 2014, citing the need to reduce costs amid the global economic downturn.
"This suspension is to cope with tough circumstances mainly caused by the prolonged recession in developed countries, a historical appreciation of Japanese Yen and repeated natural disasters," a company statement read.
"Having an eye to returning to MotoGP in 2014, Suzuki will now focus on developing a competitive new racing machine for that class."
Suzuki's future in MotoGP had been in doubt for months, with the reduction to a single works bike this season widely regarded as a precursor to a full withdrawal.
Suzuki last won a MotoGP race in 2007 with Chris Vermeulen's victory in France while American Kenny Roberts Jr was the last world champion for the team in 2000.
They first joined the grid in the top division of motorcycling in 1974, a decade in which Britain's Barry Sheene won two world titles.
Current rider Alvaro Bautista will join the Honda Gresini team next season as a replacement for the late Marco Simoncelli.
Suzuki's withdrawal leaves just Honda, Yamaha and Ducati as manufacturers with full factory teams on the grid for 2012. Kawasaki withdrew in 2009.
Carmelo Ezpeleta, CEO of series promoters Dorna, warned this week that MotoGP is not sustainable at its current cost levels, with just 17 bikes on the grid this season.
"If we carry on this way, with the teams lacking the budget to have the bike leased, in 2013 we'll only have two Hondas on the grid," said Ezpeleta.
"The constructors...can't change reality. This is reality: there's no more money, we need to spend less. We can't keep on watching anymore, we must act now."
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