The pitch, to be held on 9 May, will incorporate all of Hitachi's European consumer and corporate advertising, covering its 24 separate European groups.
Mustoes is the UK incumbent agency, and the new agency is expected to join it on the Hitachi roster as the manufacturer gears up for a major advertising push.
Mark Wilkin, Hitachi's European head of brand and communications, said:"We're definitely going to appoint a new agency, but we're not looking to replace Mustoes."
Wilkin is one of two high-profile marketing staff hired by Hitachi in the past six months. The other is the company's European marketing manager, Sue Tucker
Both have been charged with implementing the company's communications and marketing strategies, which will be developed in Japan.
Forthcoming advertising is expected to raise awareness of its consumer goods, particularly its plasma screens and DVD camcorders.
Hitachi's most recent advertising was a European TV sponsorship deal on the sports channel Eurosport, to promote its plasma-screen TVs. MediaCom and Mustoes helped negotiate the deal.