Saccharomyces cerevisiae strain M. was cultured in a molasses-containing media with different amounts of phosphorous and nitrogen sources. The effects of constituents of the cell on the functional activity as well as sensitivity of it were investigated, the results obtained being summarised as follows : Both the thermotolerance and dry tolerance of the yeast cell were higher when the more carbohydrate and thehalose were present in the yeast cell. During the drying, the rate of dead cell was noted increasing and the fermentability decreasing, but it was more remarkable at early stage of the decreasing rate of drying, and at the same time increasing rate of dead cell and decrease of fermentability were more remarkable in the yeast cell containing much protein. In this case the speed of drying was slower. The trehalose content in the yeast cell increased during early stage of the drying and this increase was higher when content of trehalose and carbohydrate in the initial yeast cell was relatively high.