As a continuation of [1], we study modular properties of the periods, the mirror maps and Yukawa couplings for multi-moduli Calabi-Yau varieties. In Part A of this paper, motivated by the recent work of Kachru-Vafa, we degenerate a three-moduli family of Calabi-Yau toric varieties along a codimension one subfamily which can be described by the vanishing of certain Mori coordinate, corresponding to going to the large volume limit in a certain direction. Then we see that the deformation space of the subfamily is the same as a certain family of K3 toric surfaces. This family can in turn be studied by further degeneration along a subfamily which in the end is described by a family of elliptic curves. The periods of the K3 family (and hence the original Calabi-Yau family) can be described by the squares of the periods of the elliptic curves. The consequences include: (1) proofs of various conjectural formulas of physicists [2