Both Panasonic TS5 and Nikon W300 have 16.0 MP resolution sensors but Panasonic TS5's sensor is 1/2.3-inch (6.08 x 4.56 mm ) and Nikon W300's sensor is 1/2.3 (6.17 x 4.55 mm ).
Since Nikon W300'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 TS5.
Below you can see the TS5 and W300 sensor size comparison.
Panasonic TS5 and Nikon W300 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.