Patent ID: 8630034

Claim:
A display medium, comprising: a first substrate that is transparent to light; a second substrate (i) that is provided to be opposite to the first substrate, (ii) that has a plurality of electrode portions and a plurality of boundary portions placed at a predetermined interval, a boundary portion being between electrode portions and (iii) that indicates a relationship satisfying the following equation, | R 1 −R 2 |≦12 percentage points, wherein R 1 presents reflectivity of the electrode portions and R 2 presents reflectivity of the boundary portions; a spacing member (iv) that is placed between the first substrate and the second substrate at another interval different from the predetermined interval of the electrodes, (v) that is transparent to light, and (vi) that keeps a gap between the first and second substrates; and a particle dispersion liquid that is filled between the first and second substrates, and that includes a dispersion medium and particles which moves by an electric field formed between the first and second substrates.