Raikkonen is due to leave Ferrari in November
Toyota say they have offered a contract to Kimi Raikkonen to drive for them next season.
"We don't play too many games," said Toyota motorsport president John Howett on the F1 team's negotiating position.
"We put on the table what we can afford and what we think is a serious offer in the current market," added Howett.
Reuters news agency reported that the management team of Raikkonen, who is being tipped for a return to former team McLaren, wanted more from Toyota.
The Finn, who is due to leave Ferrari in November, said he would only consider driving for a competitive team and that he could even walk away from the sport.
Jarno may well be in the car next year but it's not at all clear
Toyota motorsport president John Howett
Toyota, who made their debut in 2002 but have never won a Formula 1 race, have Italian Jarno Trulli and Germany's Timo Glock driving for them at present.
"I think genuinely we could work well with him, give him a car that's quick," added Howett, expanding on Toyota's hopes of luring the 2007 world champion to their team.
"We have had very good relationships with Scandinavian drivers in the rallying times that enjoy life and it works very well, so we could cope with it as a team."
While Toyota have allowed an option on Glock to lapse, Trulli has been offered a deal to race next season.
"We have put an offer on the table with Jarno, I think that he himself is not dissatisfied with the financial offer, the bottom line to some extent is certain issues on the contract and I don't think they are negotiable from our side," said Howett.
"He may well be in the car next year but it's not at all clear."