In a tunneling magneto-resistance element, first and second free magnetic layers have a magnetization direction according to storage data. The first and second magnetic layers are arranged with an intermediate layer interposed therebetween. The intermediate layer is formed from a non-magnetic conductor. In data write operation, a data write current having a direction according to a write data level is supplied to the intermediate layer. A magnetic field generated by the current flowing through the intermediate layer magnetizes the first and second free magnetic layers with a looped manner.