In read operation, a current from a current supply transistor flows through a selected memory cell and a data line. Moreover, a bias magnetic field having such a level that does not destroy storage data is applied to the selected memory cell. By application of the bias magnetic field, an electric resistance of the selected memory cell changes in the positive or negative direction depending on the storage data level. A sense amplifier amplifies the difference between voltages on the data line before and after the change in electric resistance of the selected memory cell. Data is thus read from the selected memory cell by merely accessing the selected memory cell. Moreover, since the data line and the sense amplifier are insulated from each other by a capacitor, the sense amplifier can be operated in an optimal input voltage range regardless of magnetization characteristics of the memory cells.