A charging/discharging apparatus according to the present embodiment comprises first and second electrode terminals inputting or outputting direct-current power. First to third switching elements are connected in series between the first electrode and the second electrode. A first electric storage is connected in parallel to the second switching element located between the first switching element and the third switching element. A second electric storage is connected in parallel to the third switching element. First to third diodes are respectively connected in antiparallel to the first to third switching elements.