Both Panasonic TS10 and Nikon S1200pj have 1/2.3-inch sized 14.0 MP resolution sensors so sensor size and resolution is not a differentiator between these two cameras.
Below you can see the TS10 and S1200pj sensor size comparison.
Sensor Size and Resolution Comparison image of Panasonic TS10 and Nikon S1200pj Cameras
Panasonic TS10 and Nikon S1200pj have almost the same sensor size, so neither of them has any significant advantage over the other in terms of providing control over depth of field when used with the same focal length and aperture.
Sensor size sets the circle of confusion, so it drives how much depth of field each
of these bodies gives you at a given aperture. You can calculate it exactly for the
Panasonic TS10
or the
Nikon S1200pj ,
including hyperfocal distance.