A matrix converter for converting a three-phase ac input voltage into a specified three-phase ac output voltage, comprising: an output voltage command signal generating section for generating an output voltage command signal to output the specified three-phase ac output voltage; a current flow ratio generating section for generating a signal representing a current flow ratio based on a specified input current command signal; a signal correcting section for correcting the output voltage command signal by calculating a product of the output voltage command signal generated by the output voltage command signal generating section and the signal representing the current flow ratio generated by the current flow ratio generating section; a PWM conversion signal generating section (15, 17) for generating a PWM conversion signal based on the output voltage command signal corrected by the signal correcting section and a carrier signal; and a conversion section for converting the three-phase ac input voltage into the specified three-phase ac output voltage based on the PWM conversion signal generated by the PWM conversion signal generating section (15, 17), wherein given the input current command signals are represented by i r *, i s *, i t * and a voltage command is represented by V s *, assuming the lowest voltage phase as V s * when a polarity of a mid phase out of the output voltage command signal is positive or the highest voltage phase as V s * when a polarity of the mid phase out of the output voltage command signal is negative, the current flow ratio generating section is arranged to generate the current flow ratio of the maximum phase by V S ∗ 2 3 mid i r ∗ i s ∗ i t ∗ and to generate a sum of the current flow ratio of the maximum phase and the current flow ratio of the mid phase by V S ∗ 2 3 max i r ∗ i s ∗ i t ∗. an output voltage command signal generating section for generating an output voltage command signal to output the specified three-phase ac output voltage; a current flow ratio generating section for generating a signal representing a current flow ratio based on a specified input current command signal; a signal correcting section for correcting the output voltage command signal by calculating a product of the output voltage command signal generated by the output voltage command signal generating section and the signal representing the current flow ratio generated by the current flow ratio generating section; a PWM conversion signal generating section (15, 17) for generating a PWM conversion signal based on the output voltage command signal corrected by the signal correcting section and a carrier signal; and a conversion section for converting the three-phase ac input voltage into the specified three-phase ac output voltage based on the PWM conversion signal generated by the PWM conversion signal generating section (15, 17), wherein given the input current command signals are represented by i r *, i s *, i t * and a voltage command is represented by V s *, assuming the lowest voltage phase as V s * when a polarity of a mid phase out of the output voltage command signal is positive or the highest voltage phase as V s * when a polarity of the mid phase out of the output voltage command signal is negative, the current flow ratio generating section is arranged to generate the current flow ratio of the maximum phase by V S ∗ 2 3 mid i r ∗ i s ∗ i t ∗ and to generate a sum of the current flow ratio of the maximum phase and the current flow ratio of the mid phase by V S ∗ 2 3 max i r ∗ i s ∗ i t ∗.