The chip resistor (1) of the present invention includes a pair of terminal electrodes (4, 5) provided at ends of an insulating substrate (2) in the form of a chip, and a resistor film (3) formed on the upper surface of the insulating substrate (2) for electrical connection to the paired terminal electrodes (4, 5) and formed with a trimming groove (3a) for setting the resistance. The paired terminal electrodes (4, 5) include a lower electrode (4b) formed on the lower surface of the insulating substrate (2). The lower electrode (4b) extends up to a position directly below a narrower portion (8) of the resistor film (3) which has a relatively small width due to the formation of the trimming groove (3a) in the resistor film (3).