Patent ID: 8854723

Claim:
A display medium, comprising: a first substrate that is transparent to light; a second substrate that is provided to be opposite to the first substrate and that has a plurality of electrodes placed at a predetermined interval; a spacing member (i) that is placed between the first and second substrates at another interval different from the predetermined interval of the electrodes, (ii) that has a first end portion on a first substrate side of the spacing member and a second end portion on a second substrate side of the spacing member, wherein the first end portion is transparent to light, wherein the second end portion has different transparency from the first end portion to reduces a reflection of light incident through the first substrate onto a first substrate side of the spacing member; and a particle dispersion liquid that is filled between the first and second substrates, and that includes particles which are moved by an electric field formed between the first and second substrates and a dispersion medium.