Disclosed are phenylpyridine compounds with tetrazole or oxadiazole groups represented by the general formula (I), wherein the variables are as defined in the specification. The compounds of formula (I) have both angiotensin II receptor antagonism and a PPAR&gamma activation effect and are useful as a preventative and/or therapeutic agent for circulatory and metabolic disease such as high blood pressure, cardiac disease, arteriosclerosis, and type-2 diabetes.