Panasonic actually had a serious reputation for decent bikes long before these cycles hit our shores, with the company making it first bike frames in the early 50's.
But it wasn't until 1971 that Panasonic bicycles were available here in the states. They weren't exactly high-end, but they had good construction, very reliable components, and in general were seen as "high quality for the money" bikes. Hmmm...sounds like a lot of other Japanese companies I know of.
The yen-to-greenback ratio, though, spelled doom for the line, and by the late 80's they were no longer being imported.
If you really need to get more info on these bikes, you really should take a few moments to visit the Panasonic Bicycle Virtual Museum, from which I was able to get some of this info.
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