Goldman Sachs says it will exit Japan transaction banking

(Reuters) -- Goldman Sachs Group said on Friday it will exit transaction banking in Japan.

The financial group will close Goldman Sachs Bank USA Tokyo Branch, whose sole purpose was to support transaction banking in Japan, it said in an emailed statement.

"While remaining focused on growing transaction banking as a strategic priority, we are stepping back from building out this business here in Japan," Goldman Sachs said.

The exit was first reported by Bloomberg News on Friday.