This appears to be an officially refurbished headphone.
The headphones were sourced from a batch discovered by the original OEM factory

 — unused stock of this model from about 30 years ago.

Due to long-term storage, the original cables had deteriorated and some housings showed paint peeling. The factory replaced the cables and repainted certain parts before releasing them for sale again.

Panasonic's lightweight retro headphones Over-the-ear.

Expected 90's item, working condition,