Thereafter, as described with reference to FIG. 9, an upper electrode 33A, a ferromagnet 41A, an insulator 42A, a ferromagnet 43A and a hard mask 44A are formed in this order on the top surface of the conductor 34A. Next, the ferromagnet 43A, insulator 42A, ferromagnet 41A, upper electrode 33A, conductor 34A, variable resistance material 32C and lower electrode 31A are partially removed by IBE, using the hard mask 44A as a mask. As a result, as shown in FIG. 12, ferromagnet 43, insulator 42, ferromagnet 41, upper electrode 33, conductor 34, variable resistance material 32 and lower electrode 31 are formed.
<2.4. Advantages>