PURPOSE: To prevent a semitransmission type reflecting and polarizing plate from being scratched or stained during handling by sticking a polarizing film and a semitransmission type reflecting plates together with an adhesive and by adhering a protective film to the side of the reflecting plate not stuck to the polarizing film with a weak adhesive.

CONSTITUTION: A semitransmission type polarizing plate 16 for a liq. crystal display device is manufactured by sticking the semitransmission type reflecting plate 11 to the underside of a polarizing film 10a with an adhesive 8. At this time, the film 10a has releasing paper 13 adhered to the top with the same adhesive 8, and the plate 11 has a protective film 15 of polyethylene or the like adhered to the underside with an adhesive 8a which is weaker than the adhesive 8. The reflecting plate 11 is prevented from being scratched or stained to maintain the optical characteristics. The protective film 15 and the releasing paper 13 are stripped immediately before the reflecting plate 11 is fixed on a liq. crystal display device.