This paper describes permanent magnet synchronous motors with characteristics of bonded magnet. In general, most of PMSMs use the Nd-Fe-B sintered magnet. Because Nd-Fe-B sintered magnet have a high magnetic energy, it is possible to obtain a high torque and high output power. On the other hand, a magnetic energy of a bonded magnet is lower than that of a Nd-Fe-B sintered magnet. However, this magnet has higher permeability than a Nd-Fe-B sintered magnet and the eddy current is negligible. It is found that the flux weakening control is useful because of a high permeability. In this paper, three machines are proposed and compared these characteristics with the machine which uses Nd-Fe-B sintered magnet by the Finite Element Analysis (FEA).