Two kinds of novel molecular materials with high optical anisotropy were synthesized and evaluated. Liquid crystalline phenylacetylene derivatives, which have mesogen of a 1,4-Bis(phenylethynyl)benzene, not only showed high Deltan but also were stable for heating or light. Triphenodioxazine derivatives were highly dichroic in guest-host liquid crystal mixtures, where they also showed vivid color due to a sharp peak in absorption spectra. Hence, these molecules possibly improve visual performance of some reflection type liquid crystal displays (LCDs).