KUALA LUMPUR (Dec 4): Japan’s Sumitomo Rubber Industries will acquire the exclusive rights to use the Dunlop brand for tires and accessories in Malaysia and two other Southeast Asian countries, Nikkei Asia reported.

Transaction details were not disclosed, though the Japanese newspaper said the estimated acquisition price will be just under ¥1 billion (RM26.5 million) without citing a source. Continental Tyre Malaysia has held the exclusive rights to the Dunlop brand in Malaysia, Singapore and Brunei under a sub-licence.

Sumitomo Rubber plans to begin selling tires in Malaysia, Singapore and Brunei under the Dunlop brand beginning January next year, Nikkei Asia reported.

"This signals Dunlop’s return to global prominence," Sumitomo Rubber president Satoru Yamamoto was quoted as saying at a brand strategy briefing. "We’re rebuilding the Dunlop brand."

Sumitomo Rubber, part of the Japanese conglomerate Sumitomo Group, acquired the Dunlop brand distribution and trademark rights for North America, Europe, and Oceania in May from US-based Goodyear Tire & Rubber, in a move to unify the brand as a singular global entity.