The invention provides a DC-DC converter capable of being started up in a state in which an input voltage is low and capable of being structured without increasing a circuit size. A back-gate voltage (Vsb) is outputted from a back-gate voltage generating circuit (VBGN), and is inputted to a back gate of a transistor (FET1). During a period during which an output voltage (Vout) is lower than a reference voltage (e0), an oscillation signal (OS1) is inputted to a gate of the transistor (FET1), and the back-gate voltage (Vsb) is set at a grounded voltage. Therefore, the transistor (FET1) has a reference threshold voltage (Vto). On the other hand, during a period during which the output voltage (Vout) is higher than the reference voltage (e0), a pulse signal (PS) is inputted to the gate of the transistor (FET1), and the back-gate voltage (Vsb) is set at an output voltage of a charge pump portion (5). Therefore, the transistor (FET1) has a threshold voltage higher than the reference threshold voltage (Vto).