PURPOSE: To realize an R-B-Fe-Mo-Co based cast magnet which can be produced directly without depending on powder metallurgy by providing a ellipsoid texture having low axial ratio, composed of R, Co, Mo, B and the remainder of substantial Fe, in fine crystal phase where growth of crystal particles is suppressed.

CONSTITUTION: R (R represents Nd or Nd where one or more than one kind of Pr, Dy, Tb is substituted for 50% or less thereof) is set at 12-18 atomic %, Co is set at 10 atomic % or below, and Mo is set at 0.5-7 atomic %. Furthermore, a fine crystal texture composed of B satisfying a relation x-1≤y≤x+6 (B is 2atomic% or above, x = quantity of Mo (atomic%), y = quantity of B (atomic%)) and the remainder of substantial Fe, where columnar crystal is split in cast texture, is obtained. Specified heat treatment is performed after casting in order to retard growth of crystal particles thus producing rounded crystal particles, i.e., ellipsoid texture having low axial ratio, which can produce a permanent magnet directly through casting.