To provide the translucent reflector of no metallic reflection, less coloring and less visual field angle dependency of coloring capable of obtaining bright display by installing a light control layer provided with a medium and a granular body provided with respectively different refractive indexes at the upper part of a translucent reflection layer provided with cholesteric liquid crystal.

This translucent reflector 11 is provided with the light control layer 11a, a λ/4 plate 11e and the translucent reflection layer 11b for which the cholesteric liquid crystal is arranged at a high polymer medium. For the cholesteric liquid crystal, the one of right rotation or the one of left rotation is used. The light control layer 11a is constituted of the medium 11c composed of a high polymer and the granular bodies 11d (beads) composed of a spherical or elliptic high polymer. The refractive index of the medium 11c is defined as nF, the refractive index of the beads is defined as n1 different from the nF and setting is performed so as to satisfy 1.4≤nF≤1.6, 1.4≤nPA≤1.6 and 0.00<nF-nPA≤0.362.