A sputtering apparatus including a target holder configured to hold at least two targets; a substrate holder configured to hold a substrate; a first shutter plate arranged between the target holder and the substrate holder, the first shutter plate having at least two holes and being capable of rotating around an axis; a second shutter plate arranged between the first shutter plate and the substrate holder, the second shutter plate having at least two holes and being capable of rotating around the axis; wherein the first and second shutter plates are rotated such that paths are simultaneously created between the at least two targets and the substrate through the at least two holes of the rotated first shutter plate and the at least two holes of the rotated second shutter plate, and a film is formed on the substrate by co-sputtering of the at least two targets.