A Study to Evaluate the Renal Protective Effect (Urine Albumin-to-Creatinine Ratio (UACR)), Efficacy and Safety of Ipragliflozin in Type 2 Diabetes Mellitus Patients With Albuminuria

Inclusion Criteria: Inclusion Criteria assessed at Visit 1: * Subject who is outpatient. * Subject who has been diagnosed with type 2 diabetes mellitus. * Subject who has been on a stable dose of at least 1000 mg/day metformin monotherapy for at least 8 weeks (56 days) prior to Visit 1. * Subject who has an HbA1C value between 7.0% and 9.0% at Visit 1. * Subject who has a urinary albumin/creatinine ratio greater than or equal to 30 mg/g at Visit 1. * Subject who has eGFR greater than or equal to 45 mL/min/1.73 m\^2. * Subject is on stable diet and exercise program for at least 8 weeks (56 days) prior to Visit 1. Inclusion Criterion assessed at Visit 2: * Subject who has a urinary albumin/creatinine ratio greater than or equal to 30 mg/g at Visit 2. Exclusion Criteria: * Subject who has been diagnosed with type 1 diabetes mellitus. * Subject who started or has changed the types and/or dosage of Renin Angiotensin System (RAS) inhibitors (Angiotensin II Receptor Blockers (ARBs), ACE inhibitors) within 12 weeks prior to Visit 1. * Subject who has been treated with Sodium-Glucose Cotransporter-2 (SGLT-2) inhibitors within 12 weeks prior to Visit 1. * Subject who has a history of clinically significant renal disease(s) (other than diabetic nephropathy) such as renovascular occlusive disease, nephrectomy, or renal transplant. * Subject who has a diabetic ketoacidosis, or history of diabetic ketoacidosis. * Subject with diabetic coma or precoma. * Subject with severe infection, serious trauma, or perioperative subject at Visit 1 * Subject who has a history of hypersensitivity to ipragliflozin or glimepiride or other SGLT-2 inhibitors or sulfonylureas. * Subject has Aspartate Aminotransferase (GOT) (AST) or Alanine Aminotransferase (GPT) (ALT) value exceeding 3 times of upper limit of the normal range, or total bilirubin value exceeding 3 times of upper limit of the normal range at Visit 1. * Subject has progressive proliferative diabetic retinopathy. * Subject has a symptomatic urinary tract infection or genital infection at Visit 1. * Subject has uncontrollable psychiatric disorder(s) with medication. * Subject abuses drug or alcohol at Visit 1. * Subject has lactic acidosis or has history of lactic acidosis. * Subject who has been known to have Hepatitis B, Hepatitis C or Positive Human immunodeficiency virus (HIV). * Subject is unable or unwilling to adhere to any of the protocol requirements such as hospital visits and dose instruction specified in this study. * Subject with rare hereditary problems of galactose intolerance, the Lapp lactase deficiency or glucose-galactose malabsorption. * Subject has participated in another interventional study with study drugs within 12 weeks prior to obtaining written informed consent. * Subject has a clinical condition which would not allow safe conduct of the study.