Sony Corp. said Tuesday it will make EMI Music Publishing a subsidiary by raising its stake to nearly 90 percent in a $1.9 billion deal with a United Arab Emirates-backed fund.

The Japanese electronics and entertainment group unveiled its latest three-year business plan through fiscal 2020, focusing on investment in content and intellectual property in music, movies and games, as well as on the semiconductor business.

Sony's U.S. subsidiary will buy a 60 percent stake in the New York-based EMI Music, which owns or administers 2 million songs -- by artists such as Kanye West and Alicia Keys -- from Mubadala Investment Co., pending regulatory approval.

Through the acquisition, Sony aims to secure profits from the paid subscription-based streaming services, it said.

(Sony President Kenichiro Yoshida)

"The investment is clearly to strengthen content and intellectual property," Sony President Kenichiro Yoshida told a press conference. "Upon completion of the transaction, Sony will become one of the world's largest music publishing companies."

Under the latest business plan, Sony aims to log 110 billion to 130 billion yen in operating profit in the music segment for fiscal 2020, compared with 112 billion yen projected for the current fiscal 2018 through next March.

It also expects its semiconductors segment, propelled by image sensors supplied to Apple Inc. and other smartphone makers, to mark 160 billion to 200 billion yen in operating profit, up from a projected 100 billion yen for the business year.

Sony aims to achieve more than 2 trillion yen in operating cash flow in the three years through March 2021, excluding financial services, compared with 1.48 trillion yen marked in the three years from fiscal 2015.

Using half of the cash flow, Sony plans to invest mainly in research and development of image sensors while the remainder will be spent on intellectual property and used to provide returns to shareholders.