The head of Japan's Suzuki Motor Corp said he has had no contact with Volkswagen AG, shooting down a report last week that the German auto giant was considering a 10 percent stake in Suzuki, a Japanese newspaper said.

"So far there's been absolutely no contact (with Volkswagen)," Chief Executive Osamu Suzuki was quoted as telling the Chunichi Shimbun daily.

"Lately, we've been the victim of a lot of rumours (of equity tie-ups and cooperation deals)," the newspaper quoted him as saying in a report on Saturday.

A Suzuki spokesman said he could not confirm the CEO's comments.

A source familiar with the matter had told Reuters on Thursday that Volkswagen was exploring a deal to cooperate with Suzuki to boost its presence in ultra-small cars, and German publication manager magazine said Volkswagen could secure such a deal by taking a 10 percent stake.