A liquid crystal panel is switched between a transmission state and a reflection state. The liquid crystal panel includes an absorption type polarizing plate on one side of a liquid crystal element, and a reflection type polarizing plate on the other side thereof. In the reflection state, light incident from the absorption type polarizing plate and transmitted through the liquid crystal element has a polarization axis along the reflection axis of the reflection type polarizing plate, and is reflected by the reflection type polarizing plate. In the transmission state, the light incident from the absorption type polarizing plate and transmitted through the liquid crystal element has a polarization axis along the transmission axis orthogonal to the reflection axis, and is transmitted through the reflection type polarizing plate. The absorption type polarizing plate has an average polarization degree of 60-80% inclusive at wavelengths of 450-650 nm.