An inductor and a method of manufacture results in external electrodes that prevent generation of flashes. The inductor has a ferrite substrate, external electrodes, and a coil. The cross-sectional area of the external electrodes extending across the cutting line is reduced to suppress generation of flashes during the cutting process. Pairs of through-holes are formed at positions in line symmetry about the cutting line. A connection conductor is formed in each of the through-holes, and the external electrodes are formed on the front and back surfaces of the substrate, with the connection conductor connecting each of the pairs of external electrodes on the front and back surfaces. Through-holes can be oblong holes extending across the cutting line, and the external electrodes can extend away from the cutting line.