Suntory Holdings Ltd. and China's Tsingtao Brewery Co. have agreed to dissolve their joint beer venture. The Japanese brewer will pursue growth by focusing on China's spirits, wine and soft drink businesses, it said Monday.

Suntory, which owns a 50 percent stake in both the beer manufacturing and sales companies, said it will sell all shares by next spring to Tsingtao for about ¥15.6 billion.

It will conclude a new production and sales license agreement with Tsingtao, which means Suntory-brand beer will continue to be sold in China following the transfer of the shares. The sales will take place mainly in Shanghai and Jiangsu provinces.

Suntory first brought its beer to the Chinese market in 1981. It partnered with Tsingtao in 2012 and started the joint venture the following year.