Panasonic bikes were made by Fuji Bicycle Corp, itself a divivsion of Fujitsu Heavy indutries, the same people responsible for huigh rise buildings, ships, aircraft, cars (subaru) and various consumer electronics items.
They were very nice bikes, a bit on the heavy side, but well made. They can be compared to a Bridgestone RB series road bike of the same era which was broadly comparible to a Peugeot, Vitus (the Al Panasonics) and other continental steel frames.