Provided is a multilayer ceramic capacitor including external electrodes
which also functions as a resistive element, and the external electrodes
achieve strong bonding with internal electrodes containing Ni or a Ni
alloy. The external electrodes include a resistive electrode layers
contacting a ceramic laminate and internal electrodes. The resistive
electrode layers contains a complex oxide which reacts with Ni or a Ni
alloy contained in the internal electrodes in a proportion of 26 to 79%
by weight, a glass component in a proportion of 20 to 56% by weight, and
metal which reacts with Ni or a Ni alloy in a proportion of 1 to 18% by
weight.