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Multilayer ceramic (MLC) capacitor with small size, large capacitance and low cost are increasingly demanded as components for miniaturized electronic equipment. The conventional dielectric materials for MLC capacitors are mainly based on BaTiO3 . They are co-fired in air with internal electrodes at around 1,300 oC.) Therefore, the internal electrodes must be a precious metal, such as platinum or palladium, in order to prevent oxidation or reaction with dielectrics. In the case of large capacitance MLC capacitors, the precious metal cost constitutes large proportion of the selling price of the capacitor. So, large capacitance MLC capacitor is too expensive for consumer electronics applications.