In a method of forming an external electrode by growing plated depositions on exposed ends of a plurality of internal electrodes in a component main body, the component main body is polished to increase exposure of the internal electrodes. To prevent decreased external electrode fixing strength, a radius of curvature is reduced to about 0.01 mm or less for an R chamfered section formed in a ridge section of the component main body during polishing by ion milling, and exposed ends of the internal electrodes are recessed from end surfaces of the component main body with a recess length of about 1 μm or less. Plating films to serve as external electrodes are formed to extend from the end surfaces of the component main body across the R chamfered section, and include end edges located on at least one of the principal surfaces and the side surfaces.