A chip resistor includes an insulated substrate having a rectangular parallelepiped shape, a first front electrode and a second front electrode created on both longitudinal ends of the insulated substrate, and a resistive element making a connection between the first and second front electrodes. The resistive element is formed in a meandering shape with a first region and a second region continuing in series via a jointing section between a pair of connecting portions. Moreover, in the first region, a first trimming groove for rough adjustment is formed to elongate a current path of the resistive element. In the second region, a second trimming groove is formed for fine adjustment extending in a direction angled with respect to a straight line along a direction in which the first trimming groove extends.