To provide an output circuit capable of generating a preemphasis signal without using a complicated delay circuit and preventing the common mode level of an output from being changed even if the strength of the preemphasis signal is changed.

The output circuit includes: a mutual conductance circuit for generating an output current proportional to a signal input; a preemphasis current output circuit for generating a preemphasis current from the signal input; a preemphasis current adjusting circuit for amplifying an AC current component of an output of the preemphasis current output circuit at a predetermined coefficient based on an adjustment voltage input; and a load circuit for allowing the output current of the mutual conductance circuit and the output current of the preemphasis current adjusting circuit to flow and generating an output.