Resistance change memories such as a magnetic random access memory (hereinafter referred to as an MRAM) that uses magnetoresistive effects of a ferromagnetic substance have been recently drawing more attention as next-generation solid-state nonvolatile memories capable of high-speed reading and writing, having high capacities, and capable of low-power-consumption operation. In particular, a magnetoresistive element having a magnetic tunnel junction used in the MRAM is also referred to as a magnetic tunnel junction (MTJ) element, and has been dawning attention since it had been proved to show a high magnetoresistance rate. The MTJ element has a three-layer stacked layer structure including a storage layer variable in magnetization direction, an insulator layer, and a reference layer which faces the storage layer and which maintains a predetermined magnetization direction.