A peeling device (12) includes a first peeling unit (21) and a second peeling unit (22). When an upper peeling die (33) and a lower peeling die (34) of the first peeling unit (21) are moved forward, an insulating coating (8) is peeled off from upper and lower surface of a coil conductor wire (2), and a conductive portion (7) is cut from the upper surface and the lower surface of the coil conductor wire (2). The conductive portion (7) is formed to have exposed portions (7a) and recessed portions (7b) cut in a trapezoidal shape. A front peeling die (42) and a rear peeling die (43) of the second peeling unit (22) are moved downward while the recessed portion (7b) is placed on and pressed against a second receiving section (41b) of a cradle (41), which peels off the insulating coating (8) and cuts the conductive portion (7).