A direct-current voltage conversion circuit having on/off control with a dead-time period performed alternately on a first switch and a second switch included in a direct-current voltage conversion circuit. When alternating current flows in a series circuit part including two transformers magnetically independent, current flows in an output circuit including a secondary side of one transformer, and energy is accumulated in the other transformer. The permeabilities of the magnetic cores in the first and second transformers is between 15 and 120.