A volume adjusting circuit which converts a digital audio signal to an analog signal by a D/A converter and outputs the analog signal includes: a first gain variable circuit unit which controls a gain of the digital audio signal; a second gain variable circuit unit which controls a gain of the analog signal output from the D/A converter; a storage unit which stores gain setting value; and a control unit which controls the gain of the first gain variable circuit unit and the gain of the second gain variable circuit unit based on the gain setting value stored in the storage unit, wherein the storage unit and the control unit are shared in controlling the first gain variable circuit unit and in controlling the second gain variable circuit unit.