For the purpose of providing a display panel that realizes a high light utilization efficiency, a low power consumption, a fast response and a low cost, a display panel of the present invention includes, between a transparent substrate (102) and a TFT substrate (105), (i) a soft material layer (101) that expands or contracts in response to voltage application to the soft material layer (101), (ii) a flexible pixel electrode (102) that expands or contracts together with the soft material layer (101), and (iii) an upper electrode (103).