Machining apparatus for the cutoff machining of sintered magnets, comprising: a cylindrical or columnar work carrier mounted on a horizontal rotation axis such as a rotation spindle and having a generally regular polygonal shape in a cross-section perpendicular to the rotation axis, with the proviso that the polygon has 3 to 180 sides, a plurality of endless elastic belts which are extended so as to come close to a portion of a peripheral surface of the work carrier, adapted to urge a work of sintered magnet against the peripheral surface of the work carrier to secure the work, and adapted to travel synchronously with the rotation of the work carrier in a circulatory manner, a belt expanding mechanism for tensioning the belts, at least two belt supports for supporting the belts in tension and adapted to define the traveling direction of the belts during their circulatory travel, an outer cutoff blade having a circumferential edge, mounted on a horizontal rotating shaft and adapted to be positioned such that the circumferential edge is close to the peripheral surface of the work carrier, and work seats formed on the respective sides of the peripheral surface of the polygonal work carrier and arranged in the rotational direction of the work carrier, the plurality of elastic belts being extended such that the work resting on each work seat is secured thereto by at least two elastic belts which are juxtaposed at a spacing, the at least two belt supports including a first belt support disposed above the rotation axis of the work carrier and in proximity to a portion of the peripheral surface of the work carrier which extends from the top of the work carrier to a forward position in the rotational direction of the work carrier, and a second belt support disposed below the rotation axis of the work carrier and in proximity to a portion of the peripheral surface of the work carrier which extends from the bottom of the work carrier to an aft position in the rotational direction of the work carrier, the apparatus being operable such that in use the work is delivered onto the peripheral surface of the work carrier before the first belt support, with reference to the rotational direction of the work carrier,, and secured to the seat by the elastic belts between the first and second belt supports (41,42) in accordance with rotation of the work carrier, the work is advanced in accordance with rotation of the work carrier and cutoff machined by said outer cutoff blade inserted between the at least two elastic belts, the resulting divided work is further advanced in accordance with rotation of the work carrier, released from the seat, and discharged from the work carrier at a position after the second belt support, with reference to the rotational direction of the work carrier. a cylindrical or columnar work carrier mounted on a horizontal rotation axis such as a rotation spindle and having a generally regular polygonal shape in a cross-section perpendicular to the rotation axis, with the proviso that the polygon has 3 to 180 sides, a plurality of endless elastic belts which are extended so as to come close to a portion of a peripheral surface of the work carrier, adapted to urge a work of sintered magnet against the peripheral surface of the work carrier to secure the work, and adapted to travel synchronously with the rotation of the work carrier in a circulatory manner, a belt expanding mechanism for tensioning the belts, at least two belt supports for supporting the belts in tension and adapted to define the traveling direction of the belts during their circulatory travel, an outer cutoff blade having a circumferential edge, mounted on a horizontal rotating shaft and adapted to be positioned such that the circumferential edge is close to the peripheral surface of the work carrier, and work seats formed on the respective sides of the peripheral surface of the polygonal work carrier and arranged in the rotational direction of the work carrier, the plurality of elastic belts being extended such that the work resting on each work seat is secured thereto by at least two elastic belts which are juxtaposed at a spacing, the at least two belt supports including a first belt support disposed above the rotation axis of the work carrier and in proximity to a portion of the peripheral surface of the work carrier which extends from the top of the work carrier to a forward position in the rotational direction of the work carrier, and a second belt support disposed below the rotation axis of the work carrier and in proximity to a portion of the peripheral surface of the work carrier which extends from the bottom of the work carrier to an aft position in the rotational direction of the work carrier, the apparatus being operable such that in use the work is delivered onto the peripheral surface of the work carrier before the first belt support, with reference to the rotational direction of the work carrier,, and secured to the seat by the elastic belts between the first and second belt supports (41,42) in accordance with rotation of the work carrier, the work is advanced in accordance with rotation of the work carrier and cutoff machined by said outer cutoff blade inserted between the at least two elastic belts, the resulting divided work is further advanced in accordance with rotation of the work carrier, released from the seat, and discharged from the work carrier at a position after the second belt support, with reference to the rotational direction of the work carrier.