Lena found this one some time ago lurking on the Wikipedia entry for Panasonic [Update: It no longer appears there].
It’s a fantastically simple design and a really nice photo from Uris. See the full size image here [Update: Link no longer active]. The infomation on Wikipedia says that the company stopped selling bikes in USA in 1989 but that they sponsored a cycle team in 1991. Frank Jump informs me that this sign was painted in the 1970s, also that he rates Panasonic bikes and had one back in 1973!
A quick search on Google reveals that these bikes are now retro collectors items and you have to love the old magazine ad with the strapline “be this robot”!