Method for manufacturing multilayer varistor and multilayer varistor

A method for manufacturing a multilayer varistor, the method comprising:

• a first step of providing a multilayer stack in which a plurality of green sheet layers and a plurality of internal electrode paste layers are alternately stacked one on top of another, each of the plurality of green sheet layers containing a Zn oxide powder as a main component thereof and a Pr oxide powder as a sub-component thereof, each of the plurality of internal electrode paste layers containing a Pd powder;
• and
• a second step of forming a sintered compact, including an internal electrode inside, by baking the multilayer stack,
• the second step including
• a sub-step of baking the multilayer stack by setting an oxygen concentration in an atmosphere at 100 ppm by volume or more while increasing a temperature before a first sub-step;
• the first sub-step of baking the multilayer stack by setting the oxygen concentration in the atmosphere at 1000 ppm by volume or less while increasing the temperature from 500° C. to 800° C.;
• and
• a second sub-step of baking, after having performed the first sub-step, the multilayer stack by setting the oxygen concentration in the atmosphere at 1000 ppm by volume or more while increasing the temperature to a maximum allowable temperature.