Honda chief Yusuke Hasegawa says the manufacturer is not yet in a position to supply a second team with power units.
Honda returned to Formula 1 as a partner to McLaren in 2015, but has not yet branched out to supply another squad on the grid.
Hasegawa says Honda is “preparing” to increase its resources but is not in a position to expand as early as 2017.
“As a matter of fact, we don’t have concrete negotiations, although we have some conversations with some teams, but unfortunately we can’t make a conclusion with some teams,” he said.
“Currently our position is that we have to wait until the situation changes.
“I think I have an obligation to contribute to Formula 1 society, so we are preparing our resources.
“But still we are not strong enough to provide multiple teams. We are preparing now.”