A perpendicular magnetic recording medium at least comprises a perpendicular magnetic recording layer and a backing layer backing the perpendicular magnetic recording layer. The backing layer has an in-plane magnetization and is formed of a ferrimagnetic material having a compensation temperature in the vicinity of a recording/reproducing temperature in which reproducing of magnetic information is made from the perpendicular magnetic recording layer. A magnetic storage apparatus for recording and reproducing magnetic information using the perpendicular magnetic recording medium is also disclosed.