A digital/analog conversion apparatus for converting an input digital signal into an analog signal. The digital/analog conversion apparatus is adapted for reproduction of a disk having layers in which signals sampled with different frequencies are recorded. The digital/analog conversion apparatus includes a circuit for converting digital signals read out from the layers of the disk into N-bit signals, and a PWM conversion circuit into which the N-bit signals are input. An analog circuit provided in a stage following the PWM conversion circuit is used commonly for the different signals reproduced from the disk.