This is goodbye in the sense of "I won't see you again for a long time." It tends to be overused among non-native speakers of Japanese. (such as myself)

Some other useful ways of saying goodbye in Japanese: (make sure you use the proper level of formality!)

  • jaa, mata ashita - well, see you tomorrow
  • oyasumi nasai - good night / goodbye for today
  • soro soro shitsurei shimasu - well i'd better get going