1. A magneto-resistance effect element comprising: an insulating film which is formed on a substrate, and which has a first lower face opposed to the substrate and a first upper face opposed to the first lower face, the first upper face having a first region and a second region; a first electrode having a magnetization direction pinned, and which has a second lower face, a second upper face opposed to the second lower face, and a side face different from the second lower face and the second upper face, the second lower face being opposed to the first region of the insulating film; a stacked film which includes a first non-magnetic layer and a magnetization free layer, and which is formed on the side face of the first electrode such that the first non-magnetic layer is opposed to the side face of the first electrode, and which extends to the second region of the insulating film along the first upper face of the insulating film, the magnetization free layer having a magnetization direction changeable; and a second electrode which is formed on the stacked film.