A hydraulically actuated transmission includes a reducing valve provided at a lubricant oil supplying circuit and configured to reduce a pressure of a lubricant oil having a predetermined pressure and output the lubricant oil with a reduced pressure; and a switching device (switching valve) configured to selectively switch between a first path and a second path as the path for supplying the lubricant oil from the reducing valve to a to-be-lubricated portion. The reducing valve is configured such that an output pressure of the lubricant oil from the reducing valve is higher when the second path is selected by the switching device, than when the first path is selected by the switching device.