TOKYO (Kyodo) -- The Japan Sumo Association officially approved Mongolian wrestler Hoshoryu's promotion to yokozuna, the sport's highest rank, at an extraordinary board meeting Wednesday.

The 25-year-old grappler won the New Year Grand Sumo Tournament in a three-way championship tiebreaker Sunday at Tokyo's Ryogoku Kokugikan arena after finishing as joint leader with a 12-3 record.

He becomes the sport's 74th yokozuna and the sixth from Mongolia, following in the footsteps of his uncle Asashoryu, as well as the most recent grand champion, Terunofuji, who retired during the New Year meet due to injury.

A promotion ceremony will be held at Hoshoryu's Tatsunami stable in Tokyo following the JSA meeting.

Hoshoryu's promotion to the top rank after 42 meets is the sixth-fastest on record since the 1958 introduction of the current sumo calendar, featuring six grand tournaments annually.

The two-time Emperor's Cup winner, whose real name is Sugarragchaa Byambasuren, will contest the Spring Grand Sumo Tournament at Edion Arena Osaka in March as the sole yokozuna.

His promotion on the heels of Terunofuji's retirement prevented the sumo world from being left without a grand champion for the first time in 32 years.