Both Panasonic FP2 and Nikon 1 AW1 have 14.0 MP resolution sensors but Panasonic FP2's sensor is 1/2.3-inch (6.08 x 4.56 mm ) and Nikon 1 AW1's sensor is 1-inch (13.2 x 8.8 mm ).
Since Nikon 1 AW1'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 Panasonic FP2.
Below you can see the FP2 and 1 AW1 sensor size comparison.
As seen above, Nikon 1 AW1 has a 4.2x Larger sensor area than Panasonic FP2. 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.