A display panel includes (i) a first substrate and a second substrate, which face each other, (ii) a medium layer being sandwiched between the first and second substrate, and (iii) first electrodes and second electrodes being provided on that side of the first substrate which faces the second substrate, the display panel performing display operation by generating an electric field between the first and second electrodes. The display panel is configured such that the medium layer comprises a medium that is optically isotropic when no electric field is applied thereon, and whose optical anisotropy magnitude is changeable by and according to the electric field applied thereon; and the first and second electrodes are transparent electrodes, and a distance between the first and the second electrodes is shorter than a distance between the first substrate and second substrate. This configuration attains gives the display panel high response speed and high transmissivity.