Both Fujifilm XP120 and Panasonic TS6 have 16.0 MP resolution sensors but Fujifilm XP120's sensor is (1/2. ) and Panasonic TS6's sensor is 1/2.33' (6.08 x 4.56 mm ).
Since Panasonic TS6's has a larger sensor area with the same resolution, this means that it also has a larger pixel area hence better light collecting capacity for a given aperture compared to Fujifilm XP120.
Below you can see the XP120 and TS6 sensor size comparison.
As seen above, Panasonic TS6 has a infx Larger sensor area than Fujifilm XP120. Larger sensors give photographer more control on the depth of field and blurry background compared to smaller sensor when shot in same focal length and aperture.