This tweet from hally identifies PANDA as 吉谷厳穂:
https://twitter.com/hallyvorc/status/560389600800018433
hally has been cited in the Product pages of Lagrange Point and Mouryou Senki Madara as confirmation that PANDA worked on those games, so his identification of PANDA's identity should be fair game as well.
For a start, the real name can be credited instead of PANDA for Lagrange Point and Madara, since the games' various soundtrack releases from the period (as well as KICA-7603 Esper Dream Memorial Best) thank that (the thanks should probably be linked as well).