The compound 3-(5-(2-(2-(4-methylphenyl)-5-methyloxazol-4-yl)ethoxy)-3,4-dihydronaphth- alene-1-yl)propanoic acid or a nontoxic salt thereof. Because this compound has activity of regulating peroxisome proliferators activated receptor regulator, it is useful as a hyperglycemic agent, a hypolipidemic agent, a preventative and/or treatment agent for diseases associated with metabolic disorders etc.