A first display element 1 and a second display element 2 are provided in a stacked configuration. The first display element 1 includes a liquid crystal panel 10 in which a liquid crystal layer 18 is held between first and second transparent substrates 11 and 12, a reflective polarization plate 3 that is provided on the side of the first transparent substrate 11 and a polarization plate 4 that is provided on the side of the second display element 2. In the example shown in FIG. 1, the reflective polarization plate 3 and polarization plate 4 are common to the first display element 1 and the second display element 2. The reflective polarization plate 3 transmits light that oscillates in a specified direction and reflects light that oscillates in a direction intersecting with the specified direction, and is joined directly to the liquid crystal panel 10 via an adhesive layer with a uniform refractive index.