Nikkei hits 1-mth closing low, eyes on jobs data

* Exporters drag as investors take profits; banks up

* Hedge funds selling weighs, eyes on US jobs data -analysts

* After close, Toyota slashes loss forecast [ID:nT70357]

By Aiko Hayashi

TOKYO, Nov 5 (Reuters) - Japan's Nikkei share average fell 1.3 percent on Thursday to its lowest close in a month, with Sony Corp (6758.T) and other exporters slipping as investors locked in profits on caution ahead of U.S. jobs data.

Market players said selling by hedge funds also weighed on the market.

Sanyo Electric Co (6764.T) lost a fifth of its value after Panasonic Corp (6752.T) launched a bid for shares in the world's largest rechargeable battery maker. [ID:nT182667]

Although Panasonic's offer was unchanged from terms announced a year ago, market players said there had been some speculation it could revise up its offer price closer to Sanyo's trading price.

"Investors were pushing the market lower, preparing for more selling by investors such as hedge funds in case U.S. jobs data raises a disturbance," said Tsuyoshi Segawa, an equity strategist at Mizuho Securities.