This study suggested the design of type-variable electronic paper with multiple bottom electrode structures and experimentally investigated the process mechanism of the electrophoretic particle loading method (EPLM) as an electronic ink injection method. The type-variable electronic paper was achieved by constructing the multi-electrode structure that had a structure of four electrodes that can independently apply voltage to one cell. By injecting electronic ink that mixes two types of particles with opposite charges into an electrically neutral color (blue) fluid, we realized electronic paper with a single color, and we then measured the optical characteristics of the panel. We used the EPLM to prevent charged particles that have lost their charge from being injected into the e-paper by using an electric field. In order to confirm the color expression and transmittance control effect using the multi-electrode structure, we conducted reflectance measurement and transmittance measurement experiments. Our experiments confirmed that the expression of more than five colors was possible and that the transmittance was controllable to a minimum of 13.50% and a maximum of 71.18%. This study provides an attractive method to create e-paper as a new form outside the framework of existing e-paper technology.