A method includes producing a ceramic body including a stack of a dielectric layer and an internal electrode, applying a conductive paste including metal powder and glass frit to an outer surface of the ceramic body and baking the conductive paste to form a base external electrode layer, forming a crack in glass exposed to an outer surface of the base external electrode layer, after the formation of the crack, applying a water repellent to the base external electrode layer, and forming a Ni plating layer and a Sn plating layer on the base external electrode layer.