THE ASSOCIATED PRESS

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TOKYO - Mazda denied Saturday that a decision had been made by troubled Ford Motor Co. to sell its stake in the Japanese automaker but it didn't rule out a possible deal.

Japanese media reported Saturday that Ford was considering selling its one-third stake in Hiroshima-based Mazda Motor Corp. Public broadcaster NHK TV, without citing sources, reported that Ford would maintain some of its stake in Mazda and management ties.

"Nothing has been decided," Mazda said in a statement received Saturday by The Associated Press. "Any important decision will be disclosed."

The move, should it happen, would also be a symbolic retreat for U.S. automakers in Japan. General Motors Corp. similarly sold off its stakes in Japanese automakers in recent years.

Selling shares of Mazda, which makes the RX-8 sports car and Miata roadster, would furnish Ford with cash as it tries to turn around its business.

Ford has struggled amid a drastic downturn in U.S. auto sales, burning through nearly $11 billion of its cash stockpile in the past year. Dearborn, Michigan-based Ford reported its worst-ever quarterly loss of $8.7 billion in the second quarter.

Speculation has risen the American auto icon may file for bankruptcy, although Ford has denied that. Ford's stock price has also suffered, plunging to its lowest level in 25 years.

Ford helped engineer a turnaround at once-struggling Mazda Corp.