The DC-DC converter has a configuration in which a first full-bridge circuit and a second full-bridge circuit are connected via a transformer. A control circuit controls soft switching of each switching element. An inductor current flowing through the transformer or an equivalent inductor equivalent to the transformer at a time of switching of turning on or off each switching element is greater than or equal to a threshold current. When the first full-bridge circuit and the second full-bridge circuit have different output voltages V