To obtain the subject compound by reaction between an olefin and a diazo acetic ester in the presence of a copper salt and a stable azoline compound which can be readily prepared in a single step from a nitrile compound and an ortho ester in high yield.

This asymmetric cyclopropanecarboxylic acid compound of formula IV (* denotes an asymmetric carbon atom) is obtained by reaction of (A) a diazo acetic ester of formula I (R1 is an alkyl, aralkyl or aryl) with (B) an olefin of formula II (R2-R5 are each H, an alkenyl, alkyl, aralkyl, aryl, etc., R2-R5 being not the same simultaneously) in the presence of (C) one kind of compound selected from optically active dialkyltartaric esters and optically active di-o-aroyltartaric acid compounds, etc., (D) a copper salt, and (E) an azoline compound of formula III(R6-R10 are each H, a halogen, an alkyl, aralkyl, aryl, alkenyl, etc.; X is O or S).