A magnetic disk system which records and reproduces data on a magnetic disk at different data transfer rates depending on a track position on the disk includes a transversal waveform equalizing circuit which implements an optimal waveform shaping for a readout waveform. The waveform equalizing circuit consists of a register, a frequency synthesizer, a PLL, and a transversal circuit. The transversal circuit consists of variable delay circuits, variable gain amplifiers, and an adder. The frequency synthesizer produces a write clock signal having a frequency which corresponds to a value stored in the register which depends on the data transfer rate, and the PLL responds to the write clock signal to produce a control signal by which the delay time of the transversal circuit is controlled. Consequently, the delay characteristic is not affected by disparity of circuit components of the transversal circuit, and the write clock frequency and the delay time of the transversal circuit can be set to intended values by merely changing the value stored in the register in response to a variation of the data transfer rate.