TOKYO, Jan. 9 (Xinhua) -- The Japan Business Federation (Keidanren) on Tuesday selected Hiroaki Nakanishi, Hitachi Ltd.'s Chairman, as its next leader.

The board of councilors of the powerful business lobby approved Nakanishi's appointment earlier in the day and the 71-year-old Hitachi executive is set to replace Sadayuki Sakakibara, 74, as the federation's head.

The formal appointment will be made at Keidanren's general meeting on May 31, the federation said.

Sakakibara had previously said that his successor would be selected from current or former vice chairs of the lobby who belong to manufacturing firms that have a solid track record.

Nakanishi currently serves as vice chair of the federation and his appointment to the top post will mark the first time that a Hitachi executive has assumed the position.

Hitachi, Ltd., a Japanese multinational conglomerate, is headquartered in Tokyo, and renown for its production of industrial machinery.

Nakanishi, as a Hitachi executive, got the nod from Sakakibara in part for his knowledge of next-generation technology, including robotics and artificial intelligence.

Nakanishi's political ties also factored into him being seen as a front runner for the lobby's top post, local media reported.

Other moves within the federation may include Nobuyuki Koga from Nomura Holdings Inc. assuming the second-highest post of board of councilors chairman. Koga, 67, also currently serves as a vice chair of the federation.