A multi-valued driver circuit selectively outputs, to a transmission line, one from among multiple voltages according to a selection signal. A memory circuit stores setting data which define the respective levels of the multiple voltages. According to the selection signal, a selector circuit selects one from among the multiple setting data stored in the memory circuit. A Thevenin termination circuit outputs a voltage that corresponds to the upper M bits of the data thus selected by the selector circuit. An R-2R ladder circuit outputs a voltage that corresponds to the lower Nl bits of the data thus selected by the selector circuit.