Takashi Shiki is a ronin student who has nothing going for him. One day, he sees fighter planes flying above the sky - as well as a man who died from a gunshot to the head on the ground. The next day, after tanks start to show up, a mysterious young woman named Yuki Kitano begins to accompany Shiki. Shiki also is given the task of watching over his wealthy neighbor's mansion for a hefty sum. But this fortunate turn of events for Shiki is too good to be true: before long, the truth of the matter becomes clear to him - World War III is about to begin.

In addition to the title story, also includes:

• Mirai of the City of Nocturnal Light (夜光都市のミライ, Yakou Toshi no Mirai): Adachi resides in a city far from the sun - so far from it, there is no night or day. One day, a surprise encounter leads him to meeting Mirai, a young lady who not only lives in a place even further below Adachi's, but wishes to obtain a flower in the city of light above.
• The Yellow Rabbit (黄色い兎, Kiiroi Usagi): A glimpse into the life of a pathetic factory worker, and the various scandalous matters he catches wind of.

Note: In the original Sun Comics tankobon, the one-shot Black Bird of Death 4444 (黒死鳥44444, Kuroshitori 44444) was also included. This one-shot was the manga writing debut of Buronson after his brief time under Hiroshi Motomiya. It was included for its similar themes to Panic World, but is absent in the digital edition.