1. An image generation apparatus, comprising: a characteristic point extraction circuit configured to extract a plurality of characteristic points in an overlapping region of a plurality of component images, the plurality component images obtained by capturing a plurality of respective sequential images using a camera built in portable equipment, where each of the plurality of component images have a different pan angle or elevation angle relating to the respective sequential image, and a respective posture information being a three-axis inclination of the portable equipment relating to the respective sequential image; a self-position estimation circuit configured to estimate, for each of two sequential component images in which camera positions are displaced from one another, a plurality of respective three-dimensional coordinate values of the respective characteristic points in the overlapping region and respective three-dimensional coordinate value of the camera position; a component image generation circuit configured to associate, for each of the two sequential component images, the posture information, the plurality of respective three-dimensional coordinate values of the respective characteristic points and the three-dimensional coordinate values of the camera positions; a synthesis image generation circuit configured to adjust, based on the estimated three-dimensional coordinate values of the camera positions, the plurality of respective three-dimensional coordinate values of the respective characteristic points of the component images to correct the component images and to combine the two component images to generate a panoramic image; and an image pickup guide portion configured to display a locus of movement of the camera position based on the respective three-dimensional coordinate values of the camera position estimated by the self-position estimation circuit.