| CPC H01C 7/112 (2013.01) [H01C 7/18 (2013.01)] | 13 Claims |

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1. A multilayer varistor comprising:
a sintered body;
a first internal electrode and a second internal electrode which are disposed in the sintered body;
a first external electrode disposed on a surface of the sintered body and electrically connected to the first internal electrode;
a second external electrode disposed on the surface of the sintered body and electrically connected to the second internal electrode; and
a high-resistance layer covering at least part of the surface of the sintered body, wherein:
the high-resistance layer has a surface having a plurality of cracks, and
an arithmetic mean value of lengths of the plurality of cracks is greater than or equal to 10 μm and less than or equal to 50 μm.
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