A magnetoresistive element 10 is formed by laminating a lower electrode 31, a first ground layer 21A including a non-magnetic material, a storage layer 22 having perpendicular magnetic anisotropy, an intermediate layer 23, a magnetization fixed layer 24, and an upper electrode 32. The storage layer 22 includes a magnetic material including at least a 3d transition metal element and a boron element in a composition. A second ground layer 21B is further included between the lower electrode 31 and the first ground layer 21A. The second ground layer 21B includes a material including at least one kind of element among elements constituting the storage layer in a composition.