OYAMA, Shizuoka Pref. -- Toyota Motor Corp. on Monday unveiled a revamped Fuji Speedway, a state-of-the-art racing facility the Japanese manufacturer hopes will be among the best Formula One circuits in the world.

News photoFormula One driver Ralf Schumacher shakes hands Monday with Hisamitsu Shimada, president of Fuji Speedway, at the unveiling of the redesigned racetrack.

The 4.6-km circuit, situated at the base of Mount Fuji, officially obtained a Grade 1 license from F-1's governing body FIA this month. Toyota holds a 93.39 percent ownership share in Fuji Speedway.