PERMANENT MAGNET AND ROTARY MACHINE

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Provided is a permanent magnet which has a good balance between residual magnetic flux density and coercivity among permanent magnets that contain Y and Ce as substitute elements for Nd. A permanent magnet 10 according to the present invention is provided with main phase particles 3 that contain a rare earth element R, a transition metal element T and boron; the rare earth element R comprises at least Nd, Y and Ce; the transition metal element T comprises at least Fe; each main phase particle 3 has a core 5 and a shell 7 that covers the core 5; and if [Y]CORE atom% is the content of Y in the core 5, [Y]SHELL atom% is the content of Y in the shell 7, [Ce]CORE atom% is the content of Ce in the core 5 and [Ce]SHELL atom% is the content of Ce in the shell 7, [Y]CORE is larger than [Y]SHELL and [Ce]SHELL is larger than [Ce]CORE.