Takenaka Shigemoto served as a bushō during the Sengoku period.  He was the lord of Ōmidō Castle in the Ōno District of Mino Province.  The Takenaka clan was a dogō, or small-scale landlord in Mino.

In 1499, Shigemoto was born as the son of Takenaka Shigeuji.  Shigemoto was the father of Takenaka Shigeharu and Takenaka Shigenori.  There is a high likelihood that Shigemoto used the Iwade surname until 1558.

Shigemoto served as a retainer of the Toki and Saitō clans of Mino.  In the fourth month of 1556, at the Battle of Nagaragawa between Saitō Dōsan and his son, Saitō Yoshitatsu, Shigemoto allied with Dōsan.  After the loss by Dōsan, Yoshitatsu’s forces raided Shigemoto’s residence at Ōmidō Castle while Shigemoto was away, but his wife, Myōkai-daishi, and children, Shigeharu and Shigenori, valiantly fought back the attackers.

In 1558, Shigemoto and Shigeharu attacked Iwade Danjō Tadamasa on Mount Bodai and defeated him.  Thereafter, he newly constructed Bodaisan Castle to serve as his residence.  He received a stipend of 6,000 kan.  Later, Shigemoto came into conflict with the neighboring Fuwa clan, and, in 1559, was attacked by Fuwa Mitsuharu.  Owing to the efforts of a retainer named Takenaka Zenzaemon, Shigemoto repelled the attack.

In the twelfth month of 1560, Shigemoto responded to a request from Rokkaku Yoshiharu (the sengoku daimyō of southern Ōmi and sixteenth head o the Rokkaku clan) to deploy to Ōmi Province to fight against the Azai clan from northern Ōmi.

In the second month of 1561, he deployed again to Ōmi and made contributions for which he receive a letter of commendation from Yoshiharu.

Shigemoto died of illness in 1562 and was succeeded by Shigeharu.