Compounds having s1p5 receptor agonistic activity

A compound of the following formula (V) or a pharmaceutically acceptable salt thereof:

• wherein
• L is a branched or linear chain group composed of atoms selected from a carbon atom, an oxygen atom, a nitrogen atom, and a sulfur atom, in which the number of atoms in main chain thereof is 3 to 8, and the branched or liner chain group optionally contains 1 to 3 heteroatoms selected from the oxygen atom, the nitrogen atom, and the sulfur atom,
• wherein the carbon atom in L is optionally substituted with 1 to 13 halogen atoms,
• Y represents
• which is bound to Z through a bond represented by an arrow,
• A represents a C3-7 cycloalkylene group which is optionally substituted or a C1-4 alkylene group which is optionally substituted,
• R1 represents a C1-4 alkyl group, a C3-6 cycloalkyl group which may be substituted with a halogen, a C1-4 alkoxy group which may be substituted with a halogen, a C1-4 haloalkyl group, a halogen atom, or a hydroxy group,
• R2 represents a C1-4 alkyl group, a C1-4 alkoxy group which may be substituted with a halogen, a C1-4 haloalkyl group, a halogen atom, or a hydroxy group,
• R3, R4, and R5 each independently represent a hydrogen atom, a C1-4 alkyl group, a C3-6 cycloalkyl group which may be substituted with a halogen, or a C1-4 haloalkyl group,
• Z represents (1) a carboxyl group which may be substituted with one C1-8 alkyl group, (2) a hydroxy group which may be substituted with one C1-8 alkyl group, (3) a hydroxamic acid group which may be substituted with one to two C1-8 alkyl groups, (4) a sulfonic acid group which may be substituted with one C1-8 alkyl group, (5) a boronic acid group which may be substituted with one to two C1-8 alkyl groups, (6) a carbamoyl group which may be substituted with (i) one to two C1-8 alkyl groups or (ii) one to two sulfonyl groups which may be substituted with a C1-4 alkyl group, (7) a sulfamoyl group which may be substituted with (i) one to two C1-8 alkyl groups or (ii) one to two C2-8 acyl groups, (8) a sulfoximine group which may be substituted with one to two C1-8 alkyl groups, or (9) a tetrazolyl group,
• ring 2 represents a 3- to 7-membered nitrogen-containing heterocycle,
• m represents an integer of 0 to 6,
• n represents an integer of 0 to 5,
• when m is 2 or more, a plurality of R1s are the same or different from each other,
• when n is 2 or more, a plurality of R2s are the same or different from each other, and
• wherein each hydrogen atom is 1H (protium), 2H (deuterium) or 3H (tritium),
• wherein the compound excludes 1-[[(3S)-3-methyl-6-(4,4,4-trifluorobutoxy)-3,4-dihydronaphthalen-2-yl]methyl]azetidine-3-carboxylic acid.