In considering a novel function in ferromagnetic tunnel junctions consisting of ferromagnet
(FM)/barrier/FM junctions, we have theoretically investigated the multiple-valued (or
multi-level) cell property, which is in principle realized by sensing the conductances of four
states recorded with magnetization configurations of two FMs; that is, (up, up),
(up, down), (down, up), (down, down). To obtain such 4-valued conductances, we
propose FM1/spin-polarized barrier/FM2 junctions, where FM1 and FM2 are
different ferromagnets, and the barrier has spin dependence. The proposed idea
is applied to the case of the barrier having localized spins. Assuming that all
the localized spins are pinned parallel to the magnetization axes of FM1 and
FM2, 4-valued conductances are explicitly obtained for the case of many localized
spins. Furthermore, objectives for an ideal spin-polarized barrier are discussed.