The present invention provides compounds having excellent 11β-HSD1 inhibitory activity.A compound represented by the following formula (I):[whereinX1 represents an oxygen atom, or the formula —(CR11R12)p—, etc.,Y1 represents a hydrogen atom, a hydroxyl group, etc.,Z1 represents an oxygen atom or the formula —(NR14)—,R1 represents a hydrogen atom, a halogen atom, a cyano group, a C1-4 alkyl group, a C1-4 alkyl group substituted with 1 to 3 halogen atoms, a C1-4 alkoxy group, a C1-4 alkoxycarbonyl group, a carboxyl group, a carbamoyl group, or an amino group, and m represents an integer of 1 or 2, andR2 represents a hydrogen atom or a C1-4 alkyl group, and n represents an integer of 1 or 2].
