In a conventional reflective liquid crystal panel (liquid crystal panel) using a semiconductor substrate, since storage capacitors are formed on the surface of the substrate, with a small pixel size, a sufficient storage capacitor (50 to 100 fF) cannot be ensured, and a voltage necessary for driving a liquid crystal cannot be held. The reflective electrode of each of pixels serves as a conductive layer of one of a pair of electrodes which constitute a storage capacitor, and the other conductive layer of the storage capacitor is formed below the reflective electrode through an insulation film so that the other conductive layer is fixed at the predetermined potential.

 
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