A pulse modulator generates a pulse modulation signal SPM having a duty ratio which is adjusted according to a feedback voltage Vfb that corresponds to the output voltage VOUT of a DC/DC converter. A second oscillator generates a second cyclic signal which is asserted with each of a predetermined second period. A light load detection circuit generates a light load detection signal which is asserted when the feedback voltage Vfb becomes lower than a first threshold voltage. A driving circuit drives a switching transistor according to the pulse modulation signal SPM. Furthermore, the driving circuit suspends the driving of the switching transistor during a period until the second cyclic signal is next asserted after the light load detection signal is asserted.