A needle valve that adjusts the flow of liquid fluid and an open/close valve that makes it possible to fully close a flow path of the liquid fluid are accommodated inside a casing of a flow adjusting valve. The needle valve is provided with a reciprocating movement section that adjusts the flow of the liquid fluid by moving a needle valve piece toward and away from the valve seat. The open/close valve is provided with an opening/closing section that utilizes a basal outer surface of the needle valve piece facing the valve seat as a fully-closing valve piece and that reciprocatingly moves the fully-closing valve piece, independently of the reciprocating movement section, between a closed position, where the fully-closing valve piece is in close contact with the valve seat, and an open position, where the fully-closing valve piece is moved away from the valve seat.