Provided are a timepiece having a temperature compensator drivable by a low voltage with low current consumption, and a control method of a timepiece. The timepiece includes an arithmetic circuit, a first switch that controls connection of a temperature compensation table storage to a power supply circuit, and a second switch that controls connection of a device-difference compensation data storage to the power supply circuit. The arithmetic circuit calculates a compensation amount based on a temperature measured by a temperature detector, a temperature compensation data, a device-difference compensation data, and outputs to a frequency adjustment control circuit and a theoretical regulation circuit. The first switch is controlled to the connect state during a first power supply connection period including a temperature compensation data read period. The second switch is controlled to the connect state during a second power supply connection period including a device-difference compensation data read period.