Case Study: Nichibo reduces foreign exchange risk with OFX

How OFX helps Nichibo reduce their foreign exchange risk

Nichibo, a leading New Zealand exporter of used vehicles from Japan, faced significant foreign exchange risk due to the time lag between a customer's purchase order and final payment. This volatility threatened their profit margins and their ability to provide pricing certainty to their clients. They initially used their bank but eventually sought a better solution, leading them to the vendor OFX.

The solution implemented by OFX provided Nichibo with expert foreign exchange management and consistent, personalized support from a dedicated account team. This partnership allowed Nichibo to lock in exchange rates, eliminating FX risk for themselves and their customers. The long-term relationship with OFX also provided additional services like detailed market reports, creating savings and certainty that helped drive the business forward.

Nichibo

Robert Young

Director