The Black Panther is a one-of-a-kind emerald. When light shines on it from a certain angle, a black panther appears to be hidden inside it. Lupin steals the gem, planning to give it to Fujiko for her birthday, and hides it temporarily in the museum in order to evade a body check by the strict security cordon, planning to come back for it later. But when both Zenigata and Inspector Conaiseau get involved as well, the statue where the emerald is hidden gets accidentally transported to a nude resort where Lupin, Jigen and Goemon attempt to retrieve it.
- This episode is an homage to the Pink Panther movies.
- The name "Conaiseau" (Konaizoo) is a pun on the Japanese pronunciation of "Clouseau." It comes out as "Kuru zo" (Here I come), and the word "Konai zo" is the negative form of this verb in this conjugation.