A valve mechanism includes a communicating passage that communicates a first lubrication loop that supplies a lubricating fluid to a first lubricating part and a second lubrication loop that supplies the lubricating fluid to a second lubricating part. The valve mechanism includes: a housing main body in which a main flow passage guiding a part of the lubricating fluid to the communicating passage is formed; a branch part provided at the housing main body and branches the lubricating fluid into three directions for a first outflow port, a second outflow port, and a third outflow port; a check valve provided at the housing main body and stops a flow of the lubricating fluid from the first outflow port to the main flow passage; and a choke part provided at the check valve and adjusts a flow rate of the lubricating fluid flowing through the first outflow port.