The light diffusing plate includes a lens substrate, a plurality of microlenses disposed on a surface of the lens substrate, a plurality of light exit areas, each having a circular or rectangular form a center of which is coincident with an optical axis of the microlens, and a light shield layer formed on another surface of the lens substrate, and covering other area than the light exit areas. When n and t are a refractive index and a thickness of the lens substrate, respectively, and C (R; diameter, A, B; sides of rectangle) is a size of light exit area, a size of the microlens Sr satisfies the following formula in the light diffusing plate: Sr≧2t×tan θ+C (with the proviso that θ=sin−1(1/n)). Or, a form of the microlens in the light diffusing plate is a part of an ellipsoid shown in the following formula X2/a2+y2/a2+z2/c2=1 (x and y represent axis on the surface of the lens substrate, z represents the optical axis), it's eccentricity ε is shown in the following formula ε=(c2−a2)1/2/c=1/n and it's far focal point is coincident with a position of the light exit area. The liquid crystal display apparatus and the rear projection apparatus use the light diffusing plate.