An optical compensator handling higher luminance, capable of achieving a higher contrast ratio while suppressing variation of the contrast ratio, and able to achieve higher definition and longer service life, a liquid crystal display system and a projection type liquid crystal display system using this optical compensator, and a production method and an adjustment method of the display systems are provided. The liquid crystal display system has a liquid crystal device optically modulating an emitted light beam by a liquid crystal layer vertically aligning liquid crystal molecules having negative dielectric constant anisotropies and having a pretilt in a direction vertical to a main surface of a substrate, a first polarizer arranged on an incident side of the liquid crystal device, a second polarizer arranged on an emission side of the liquid crystal device, and an optical compensator arranged in a light path between the emission side of the first polarizer and the incident side of the second polarizer. The optical compensator has at least two compensation layers, the compensation layers being bonded to each other so that the phase difference values and in-plane optical axis directions are different from each other.