To provide a liquid crystal panel capable of realizing excellent display performance using a circular polarizing plate therein, and a liquid crystal display device and a terminal device using the same, with respect to a semi-transmission type liquid crystal display device in a horizontal electric field mode (In-Plane Switching: IPS).A viewer-side circular polarizing plate and a backside circular polarizing plate are disposed outside of a viewer-side substrate and a backside substrate respectively, and a viewer-side compensation plate and a backside compensation plate are disposed between the respective polarizing plates and substrates to reduce a refractive index anisotropy of a liquid crystal layer.