PURPOSE: To improve reproducibility and mass productivity by first forming a film of the same compsn. as the compsn. of a dielectric layer as a ground surface layer on a substrate surface, then alternately laminating metallic thin- film layers and dielectric layers thereon.

CONSTITUTION: The dielectric layer consisting of the same material as the material of the transparent substrate 1 is first formed as the ground surface layer 7 on the substrate and thereafter, the metallic thin-film layers (island- shaped metallic thin films) 2 and the dielectric layers 3 are alternately laminated thereon and the polarizer is produced by a stretching method, by which the polarizer exhibiting good polarization characteristics is obtd. and the reproducibility in reproduction is improved. Namely, the dielectric layer is formed as the ground surface layer on the substrate 1, by which the stress is relieved while the sufficient contact area is assured. The adhesive power of the substrate 1 and the laminated films is assured if the metallic layers 2 and the dielectric layers 3 are alternately laminated thereon. The good polarization characteristics are obtd. by forming the compsn. of the dielectric target as a region having the content of SiO2 higher than the content thereof in a 'Pyrex(R)' type glass region.