One of the authors has studied on the enzyme activities of Phoma Wasabiae and on the metabolic products from the culture of Phoma Wasabiae . It was recognized that Phoma Wasabiae has the activities of polyphenol oxidase. When exposed to ultraviolet light of wavelength 365 mμ, Phoma Wasabiae fluoresces a white blue color. In this report, these fluorescent substances were separated, and the presence of ⊿^<5,7> -sterols was recognized. In addition, a red pigment which Phoma Wasabiae produced by metabolization was also separated from culture medium of potato, which seemed a new trihydroxy-1, 4-naphthoquinone. As this work is in progress, it will be described later.