Asia's financial turmoil is taking its toll on banks there, forcing several to close or reduce their U.S. offices.

Japan's Tokyo Sowa Bank is closing its New York representative office, and Shiga Bank is closing its New York branch, according to the New York State Banking Department. Two more Japanese banks, Matsuyama-based Iyo Bank and Bank of Nagoya, are downgrading their New York branch to a representative office.

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