In the multi-layer inductor, a through conductor provided in a sintered element body includes a pair of extracting conductors and a pair of internal conductors, and an end portion of the extracting conductor and an end portion of the internal conductor overlap each other in a stacking direction of the element body. Thus, the amount of shrinkage of each conductor during sintering of the element body is reduced, and internal stress generated in the element body after sintering is prevented.