Toyota has renovated the Fuji Speedway circuit in central Japan and hopes to hold Formula One races there.
The circuit sits at the foot of Japan's tallest mountain, Mount Fuji
The Japanese Grand Prix has run since 1987 at the Honda-owned Suzuka track.
The new Fuji track was inaugurated on Monday by Toyota F1 driver Ralf Schumacher, who competed there in Formula 3000 in the mid-1990s.
"While the changes have been great, the long straight is still there, so the character of the circuit is still there," said the German.
"It's great. It's obviously a bit difficult, but I was enjoying it."
The circuit, at the foot of Mount Fuji, will formally open with a ceremony on 10 April, with its first race a Super GT Fuji 500km race on 3-4 May.
Toyota executive director Tetsuo Hattori said the company wanted to bring F1 back to the circuit, which held Grands Prix in 1976 and 1977.
"We want to do it (F1) here by all means," he said.
Schumacher, younger brother of world champion Michael, has joined Toyota from Williams this season.
The German said he was confident of having a good season, despite the Japanese team having failed to secure a podium position in 51 races.
"We are looking forward definitely to the new season now and to the first few races," said Schumacher.
"I certainly hope we will have a better year than we have had previously - we are working hard.
"We are all looking forward to it."