In some Ni-Mn-In- and Ni-Mn-Sn-based Heusler-type alloys, martensitic transformation from the ferromagnetic parent phase to the paramagnetic martensite phase appears and magnetic field-induced reverse transformation, namely, metamagnetic phase transition, is detected. In this paper, the metamagnetic shape memory effect due to the metamagnetic phase transition and the magnetostress effect in the Ni-Co-Mn-In alloys are introduced and the phase diagrams of Ni50Mn50-yXy (X: In, Sn, Sb) alloys are shown as basic information. Furthermore, the magnetic properties of both the parent and martensite phases in the Ni-Mn-In- and Ni-Mn-Sn-based metamagnetic shape memory alloys are also reviewed.
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