PURPOSE: To stabilize visual display by using liquid paraffin as an oil to be contained with magnetic flakes in microcapsules.

CONSTITUTION: This device has a transparent base body 20, microcapsule layer 30 to form the visual display area, and a magnetic sheet 40 which forms a magnetic field to hold a magnetic recording area and to make visual display. The microcapsule layer 30 consists of microcapsules 32 dispersed in a binder 31, and the microcapsule 32 contains magnetic flakes 32 and liquid paraffin 33 which functions as an oily liquid. Namely, the liquid paraffin has proper viscosity at room temp. and stably holds magnetic flakes 34 in a desired oriented state in the microcapsule. Therefore, the visual display can be stabilized. Moreover, by disposing a proper surfactant, the magnetic flakes 34 can be more stably contained.