A red organic light emitting element formed by a simple process of a thermal transfer method and a display device including the same are provided. A donor substrate 100 has a reflecting layer 120 in a planned formation region 100R1 of a red transfer layer viewed from a front face side of a base 110, and has the reflecting layer 120 in a non-transfer region 100NP viewed from the rear face side of the base 110. A red transfer layer 200R is formed on the whole area on the front face side of the base 110, laser light LB1 is irradiated from the front face side of the base 110 to form the red transfer layer 200R only in the red transfer layer planned formation region 100R1, and then a green transfer layer 200G is formed on the whole area on the front face side of the base 110. The donor substrate 100 and the substrate 11 are oppositely arranged, laser light LB2 is irradiated from the rear face side of the base 110, and thereby the red transfer layer 200R and other portions the non-transfer region 100NP of the green transfer layer 200G are transferred at a time to the substrate 11.