PURPOSE: To obtain the titled compound useful as an intermediate raw material for dye, drugs, etc., by one stage, readily and industrially advantageously, by subjecting a m-benzoxybenzonic acid derivative as a starting raw aqueous to rearrangement and condensation reaction in the presence of an acid catalyst.

CONSTITUTION: A m-benzoxybenzoic acid derivative shown by formula III (X and Y are OH, alkoxy, alkyl, halogen or nitro; with the proviso that X is not simultaneously replaced at 2- and 6-positions and Y is not simultaneously replaced at 2'- and 6'-positions; m is 0W4; n is 0W3) which is obtained from m- hydroxybenzoic acid shown by formula I and benzoyl chloride shown by formula II is subjected to rearrangement and condensation reaction in the presence of an acid catalyst of Lewis acid or protonic acid at 100W250°C optionally in a solvent to give the aimed compound shown by formula IV. When the solvent is not used, preferably an additive such as NaCl, etc., is added to the Lewis acid and the reaction is carried out in a molten salt state or in a liquid protonic acid solvent.