A low loss, small scale piezoelectric transformer, suited for a cold cathode tube load, and having a high effective coupling factor, is provided using a piezoelectric plate having a single polarization direction. Controlling the dimensions of the third electrode portion 15a constituting the high impedance portion makes it possible easily to adjust the capacitance of the electrostatic capacitor formed between the first electrode portion 12 and the third electrode portion in accordance with the load. Also, the second electrode portion 13 and the fourth electrode portion 15b constituting the low impedance portion are substantially equal in area and the third electrode portion and the fourth electrode portion are formed in one piece, so that energy propagation efficiency can be increased. Consequently, the effective coupling factor resulting from the electrode structure and the vibration mode can be kept high even if the capacitance is changed freely, and thus high element efficiency and a small amount of generated heat can be maintained and stress can be decreased.