The suppression of the rotation speed degradation of the Superconducting Magnetic Bearing (SMB) with the Permanent Magnet (PM) rotor including the layered insulator thin films is studied.The SMB system consists of the superconductor stator and the PM rotor, and is a no-contact bearing system using the levitation force between them. The SMB was expected to be applied to the electric power storage flywheel system because friction causes the rotation speed degradation and decreases the energy storage capability. However, it was found that the electromagnetic friction of the SMB was not zero, due to electromagnetic forces; 1) the magnetic force interaction between the inhomogeneous magnetic field of the PM rotor and the eddy current it induces in the cryostat, 2) the magnetic force between the inhomogeneous magnetic field of the PM rotor and the shielding current it induces in the superconductor, 3) the magnetic force between the magnetic field of superconductors yielding the levitation force and the eddy current induced in the PM rotor. This magnetic field of superconductor is inhomogeneous too, because the superconductors consist of several HTSC bulks. In this research, it was found that the 3rd phenomenon is most significant. So, we use the advanced PM rotor including the layered insulator thin films to suppress its eddy current and the degradation of the rotation speed. Using our SMB equipment, the rotation speed degradation was measured using the PM rotors with/without the insulator thin films and the electromagnetic frictions were compared to each other.Index Terms-Eddy current, insulating film, rotation speed degradation, superconducting magnetic bearing (SMB).