The Japan Automobile Manufacturers' Association (JAMA) is debating whether to call off the October 2009 show as carmakers pull out, according to Automotive News.
Toshihiro Iwatake, the trade group's executive director, has told the industry newspaper that some non-Japanese companies do not plan to participate this year because of the recession.
Some JAMA members want to cancel the event to avoid a smaller show that might reflect poorly on them. Iwatake says the group will decide by early next month.
This year's will be the 41st Tokyo Show, the event is held every two years.
The Detroit Motor Show also faced similar problems this year in worsening economic conditions.
Ferrari, Land Rover, Nissan, Mitsubishi, Porsche, Rolls-Royce and Suzuki opted not to participate in the US show this year while presentations were much more low key than usual.