Provided is a chip resistor including: a rectangular parallelepiped insulating substrate which is made of ceramics; a pair of front electrodes which are provided on lengthwise opposite end portions in a front surface of the insulating substrate; a resistive element which is provided between and connected to the two front electrodes; a protective layer which is made of a resin and which entirely covers the front surface of the insulating substrate including the two front electrodes and the resistive element; and a pair of cap-shaped end-surface electrodes which are provided on the lengthwise opposite end portions of the insulating substrate to establish electrical continuity to the front electrodes respectively; wherein: a chip element assembly in which the insulating substrate and the protective layer are laminated on each other but the end-surface electrodes have not been formed yet has an external shape substantially like a square cylinder.