An object of the present invention is to provide novel carbazole derivatives, solvates thereof, or pharmaceutically acceptable salts thereof having an excellent adipose tissue weight reducing effect, hypoglycemic effect, and hypolipidemic effect, which are useful as a preventive and/or therapeutic agent for fatty liver, obesity, lipid metabolism abnormality, visceral adiposity, diabetes, hyperlipemia, impaired glucose tolerance, hypertension, non-alcoholic fatty liver disease, non-alcoholic steatohepatitis, and the like. The above-mentioned object can be achieved by carbazole derivatives, solvates thereof, or pharmaceutically acceptable salts thereof, wherein the carbazole derivatives are represented by the following general formula (I): (In the formula (I), the ring A represents phenyl group or the like； X represents -O- or the like； Y represents =N- or the like； a and b represent methylene group or the like； both V and Z represent -O- or the like； W represents a C 1 -C 10 alkylene group whose 1 or 2 hydrogen atoms may be substituted by a phenyl group or a C 1 -C 6 alkyl group； 1,2-phenylene group； 1,3-cyclohexyl group； or the like； R 1 represents methyl group or the like； R 2 represents methoxy group or the like； and R 3 represents carboxy group or the like.)
