Wow. Not much detail in the ad, but it's certainly enthusiastic. I would guess that it's the equivalent of a '70's Schwinn Le Tour (Panasonic made Le Tours for Schwinn) which means it's decent for its time. Without seeing more detailed photos it's hard to put a price on it.

I'd say go for it and hope you don't need to put more that the usual wear 'n' tear items on it: Tires, tubes, cables, brake shoes and chain.