Abstract: By combining raised image lines having a color the same or similar to that of a substrate to be printed, and lines having a color different from that of the raised image lines, there is provided a latent image printed matter which can be prevented from being counterfeited and falsified and with which false and true can be easily distinguished. By printing lines having a different color from that of the raised image lines, there can be provided a printed matter in which letters, figures, etc. can be visually recognized only when viewed in a particular direction.