Japan’s new Prime Minister Yukio Hatoyama will take office on Wednesday, ending the 54-year rule of the Liberal Democratic Party.

The Japanese parliament will elect Hatoyama, the head of the Democratic Party of Japan (DPJ), as the 93rd prime minister in a special session Wednesday. Japanese Emperor Akihito will appoint him to the post.

Hatoyama has nominated the DPJ’s acting president Naoto Kan to head the National Strategy Bureau and party legislator Katsuya Okada to head the foreign ministry. Hatoyama’s top aide, Hirofumi Hirano, has been nominated for the chief cabinet secretary position.

Hatoyama also offered Shizuka Kamei, leader of the People's New Party, the post of environment minister and tapped Mizuho Fukushima, leader of the Social Democratic Party, for the post of financial minister. Both will be part of coalitions that will be formed with the DPJ.

Hatoyama is scheduled to attend the U.N. General Assembly on Thursday of next week. He will meet with U.S. President Barack Obama on the sidelines of the gathering.

Early next month, Hatoyama will hold a trilateral summit with leaders of South Korea and China where he is likely to unveil an ambitious plan on forming a so-called “Asian community.”