A heat insulating shutter device includes a coiled shutter housing (4) provided on an upper edge portion of a building vertical wall (1) which defines an opening (2) formed in the wall (1) and having a sliding window (13). The housing (4) has an outlet (3) in its lower end and a drive horizontal roller (5) in its interior for winding and unwinding a shutter (8). The shutter (8) comprises a multiplicity of slats (7) interconnected so as to be wound up to a coiled form and is connected to the roller (5) by strip-like attaching members (6). Opposite side edge portions of the wall (1) defining the opening (2) each have a hollow side frame (9), and a lower edge portion of the wall (1) forming the opening (2) is provided with a hollow lower frame (11). Grooved shutter guides (10), which are opposed to each other and each attached to an inner wall of the side frame (9), have movably fitted therein respective opposite side edge portions of the shutter (8). The slats (7) of the shutter (8), the side frames (9) and the lower frame (11) each have a hollow portion filled with urethane foam serving as a heat insulating material (12).