Thinning and stacking are essential for circuit modules used for mobile devices of various kinds, smart cards, memory cards and the like. These demands make the manufacture of the circuit modules more complicated or less reliable due to delamination. A circuit module of a multilayer structure is provided which is formed by embedding semiconductor chips and passive components in a sheet made from a thermoplastic resin; folding a module sheet, which is formed of circuit blocks provided with wiring patterns thereon, at the boundaries of the circuit blocks so as to be stacked into layers; and thermal-bonding and integrating the module sheet by applying heat and pressure. As a result, a highly reliable circuit module can be manufactured in a simple manner.