The present invention is small in variations in the electrical characteristics, the voltage resistance to the electrostatic discharge can be improved, there is provided a low-temperature firing is possible laminated varistor and its production method. The multilayer varistor, and a semiconductor ceramic containing at least a Bi oxide as a sub-component as a main component ZnO, formed by stacking an internal electrode containing Pd as the inevitable impurities, Pt as a main component are alternately laminated sintered body; And it includes an external electrode for holding the inner electrode and in electrical contact. Here, the content of Pd is adjusted to 0.1% by weight or less based on the content of Pt in the main component of the internal electrode.
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