An underlying layer (2) made of NiFeN is disposed over the principal surface of a substrate. A pinning layer (3) made of antiferromagnetic material containing Ir and Mn is disposed on the underlying layer. A reference layer (4c) made of ferromagnetic material whose magnetization direction is fixed through exchange-coupling with the pinning layer directly or via another ferromagnetic material layer, is disposed over the pinning layer. A nonmagnetic layer (7) made of nonmagnetic material is disposed over the reference layer. A free layer (8) made of ferromagnetic material whose magnetization direction changes in dependence upon an external magnetic field, is disposed over the nonmagnetic layer.