A film-forming apparatus includes a plurality of target electrodes, a substrate holder for holding a substrate, a first shutter member rotatably provided between the plurality of target electrodes and the substrate holder and having a plurality of openings, first separating walls provided on a surface of the first shutter member, the surface being on the target electrode side; and second separating walls provided between the first shutter member and the target electrodes, wherein the first separating walls are provided so as to sandwich each of the plurality of openings of the first shutter member.