PROBLEM TO BE SOLVED: To ensure both the margin of the write current and the margin of retention.SOLUTION: The magnetoresistive element comprises: a first ferromagnetic tunnel junction element where a first fixed layer, a first tunnel insulating film and a first free layer are laminated; and a second ferromagnetic tunnel junction element where a second fixed layer, a second tunnel insulating film and a second free layer are laminated, the second ferromagnetic tunnel junction element being connected to the first ferromagnetic tunnel junction element in series. Lamination direction of the first fixed layer, first tunnel insulating film and first free layer is opposite from the lamination direction of the second fixed layer, second tunnel insulating film and second free layer. The thickness of the first tunnel insulating film is different from the thickness of the second tunnel insulating film, and the first ferromagnetic tunnel junction element and second ferromagnetic tunnel junction element are formed using a common mask material by etching. Consequently, the cross-sectional area and the volume of the first and second free layers can be substantially equalized, and the write current can be set commonly.