PURPOSE: To improve the productivity at the time of manufacturing a pulley having multi-stripe V-grooves for V belts.

CONSTITUTION: An annular plate-like pulley raw material 12 is held under inserting pressure to two-division type upper mandrel 13 and lower mandrel 14, forming female dies 16, 17 at outer peripheral parts of mating parts. Successively, while rotating the mandrels, a flat roller 23 is brought into pressurized contact with the outer peripheral part of pulley raw material 12 to execute cold-forging to the pulley raw material 12. After that, pressurized-forming is executed to the outer peripheral part of pulley raw material 12 with a forming roller 24 for finishing. As the V groove part is pre-formed with the cold forging, slotting process is made unnecessary and number of processes is reduced and the productivity is improved.