A driving-side rotatable body includes a driving-side inner gear, which has an axial extent that does not overlap with an axial extent of a driven-side inner gear of a driven-side rotatable body. A driven-side outer gear and a driving-side outer gear of a planet gear are meshed with and are driven together with the driven-side inner gear and the driving-side inner gear, so that the planet gear changes a relative rotational phase between the driven-side rotatable body and the driving-side rotatable body. An addendum circle of the driving-side inner gear has a diameter, which is larger than that of a dedendum circle of the driven-side inner gear.

 
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