Disclosed is a compound which is useful as an endothelial lipase inhibitor.
A compound represented by the formula:

its pharmaceutically acceptable salt, or a solvate thereof,
wherein
Ring A is aromatic carbocycle or aromatic heterocycle,
Z is -NR 5 -, -O- or -S-,
R 5 is hydrogen, substituted or unsubstituted alkyl, substituted or unsubstituted alkenyl, substituted or unsubstituted alkynyl, substituted or unsubstituted aryl or the like,
R 1 is hydrogen, halogen, hydroxy, cyano, nitro, carboxy, substituted or unsubstituted alkyl, substituted or unsubstituted alkenyl or the like,
R 2 and R 3 are each independently hydrogen, halogen, hydroxy or the like,
R 4 is a group represented by the formula: -(CR 6 R 7 )n-R 8 ,
wherein R 6 and R 7 are each independently hydrogen, halogen, hydroxy or the like, n is an integer of 0 to 3, R 8 is carboxy, cyano, substituted or unsubstituted alkyl or the like,
R x is halogen, hydroxy, cyano, nitro, carboxy, substituted or unsubstituted alkyl, substituted or unsubstituted alkenyl or the like,
m is an integer of 0 to 3.