The disclosure relates to a hydrogen-absorbing alloy for a negative electrode comprising: a main texture of Mm-Ni system having a crystal structure of CaCu.sub.5 type; and a plurality of compound phases having a crystal structure other than the crystal structure of CaCu.sub.5 type, where each of the compound phases are segregated in the main texture, and wherein a volume of each of the compound phases is less than about 10 .mu.m.sup.3. A distance between two adjacent compound phases should be less than about 100 .mu.m. In the hydrogen-absorbing alloy the compound phases should include an element selected from a group of boron (B), carbon (C), tantalum (Ta), niobium (Nb), titanium (Ti), zirconium (Zr), molybdenum (Mo), tungsten (W) and bismuth (Bi).