An output circuit includes a current source and a first MOS transistor coupled in series between a power supply terminal and an output terminal. The first MOS transistor includes a backgate coupled to a drain of the second MOS transistor. The second MOS transistor includes a source coupled to a source of a third MOS transistor. The second MOS transistor includes a source coupled to backgates of the second and third MOS transistors. The backgates of the second and third MOS transistors are in a floating condition.