A magnetic recording and reading device having a transfer rate of not less than 50 MB/s includes a magnetic recording medium having an absolute value of normalized noise coefficient per recording density of not more than 2.5.times.10.sup.-8 (.mu.Vrms)(inch) (.mu.m).sup.0.5/(.mu.Vpp), and magnetic head which is mounted on an integrated circuit suspension so that a total inductance is reduced to be not more than 65nH and having a magnetic core which is not more than 35 .mu.m of length, wherein a part of the magnetic core being formed by a magnetic film having a resistivity exceeding at least 50 .mu..OMEGA.cm or by a multilayer film consisting of a magnetic film and an insulating film. The device also includes a fast R/W-IC having a line width of not more than 0.35 .mu.m which is installed in a position within 2 cm from a rear end of the magnetic head.