PURPOSE: To obtain a compound capable of providing a liquid crystal intermediate, by hydrolyzing a compound, such as methyl p-(4'-octyloxy-4- biphenylcarbinyloxy)-benzoate, using water and a water-soluble aprotic solvent, such as dimethyl sulfoxide.

CONSTITUTION: A compound expressed by formula I (A is 1W18C alkyl or alkyloxy; B is CH2O or OCH2; m is 1 or 2; n is 1 or 2; R is alkyl) is reacted with an alkali metal hydroxide (e.g. NaOH, KOH or LiOH) in a mixed solvent of water and a water-soluble aprotic solvent (e.g. dimethyl sulfoxide, dimethylformamide, acetonitrile or acetone) to afford the aimed compound expressed by formula II [e.g. p-(4'-octyloxy-4-biphenylcarbinyloxy)-benzoic acid]. The compound expressed by formula II is an intermediate for liquid crystals having optically active groups, i.e. ferroelectric liquid crystals capable of exhibiting chiral smectic phase.