To permit a metallic display in the case a display method such as a liquid crystal panel is adopted.

A light scattering layer 17 to scatter light, a polarized light separation film 11 which transmits a linearly polarized light component oriented to a specified direction and reflects the other polarized light and a liquid crystal panel 8 which can select either one state to vary an axis of polarization of transmitted polarized light or the other state not to vary it are provided. Furthermore, a polarizing plate 12a arranged on the side opposite to the polarized light separation film 11 holding the liquid crystal panel 8 is between and a reflection plate arranged on the side opposite to the liquid crystal panel 8 holding the polarizing plate 12a in between are provided to constitute an electronic instrument.