18+ Isekai Tensei shita kedo Pants wo Rensei suru Nouryoku shika Arimasen

Kanata Takanoshima gets reincarnated into another world when he saves a girl from being run over by a truck and takes her place in death. When he wakes up in this new world he finds out he has the power of alchemy; more specifically: the power to cultivate panties out of thin air. Soon after he realizes his power he meets Nicolle, a strange girl in this alternate world with no panties in existence!

(Source: Anilist)