Circuit device and manufacturing method of circuit device

A method of manufacturing a semiconductor module comprising:

• preparing a semiconductor device comprising:
• a plurality of conductive paths having a first face and a second face opposed to the first face,
• a first circuit element electrically connected to the first face of the conductive paths, wherein the first circuit element includes a semiconductor element and a passive element which are electrically connected by one or more of the conductive paths and are both located on a first side of the conductive paths, and
• an insulating resin supporting the conductive paths and the first circuit element, and having a first surface and a second surface with a shape substantially the same as the first surface, wherein each surface of the insulating resin except the first surface is only insulating resin;
• and
• an electrode formed by exposing the second face of the conductive paths from the first surface of the insulating resin;
• mounting a second circuit element on the electrode exposed at the first surface of the insulating resin as a mounting face;
• and
• providing an insulating film to cover the first surface but to expose a region of the electrode to be connected with the second circuit element.