Abstract: A module board includes a first board including a first surface and a second surface, a second board where its first surface faces the second surface of the first board, an external electrode formed on the exterior of the second board, and a joining member joining the external electrode and a terminal provided on the second surface of the first board. The external electrode includes a first surface part positioned on the first surface of the second board, a second surface part positioned on a second surface of the second board opposite to the first surface, and a connecting part connecting the first and second surface parts. The joining member includes a joining surface joining to the external electrode. The joining surface covers the first surface part and at least a portion of the connecting part that is closer to the first surface part than to the second surface part.