Yukio Hatoyama said after being named Democratic Party of Japan president Saturday he is prepared to work with his political rivals.

Hatoyama, who defeated rival Katsuya Okada in Saturday's vote by his party's 221 sitting Diet members, said he would grant positions to both Okada and former DPJ President Ichiro Ozawa, The Japan Times reported.

"All along, our rival has been the ruling Liberal Democratic Party-New Komeito bloc and not each other," Hatoyama said. "There were no sides the minute the election ended.

"I would like to play ball with everyone -- this means that I would like both Okada and Ozawa to take key posts."

For his part, Okada was gracious in defeat and vowed to support Hatoyama, whose power in Japan could increase significantly if their party wins the lower house general election.

"From today, let us come together as the new Hatoyama-led DPJ and bring politics back into the hands of the public and take power," said Okada, who was a public favorite going into Saturday's party vote.