To provide a thin and small laminated transformer, exhibiting high coupling between the primary side and the secondary side.

In a laminated transformer where at least a first winding 11 and a second winding 21 are formed using at least one of lamination by printing and lamination by a lamination sheet, a nonmagnetic material 2 is interposed, respectively, between the conductors constituting the first winding 11 and between the conductors constituting the second winding 21.