Case Study: Nichibo reduces foreign exchange risk with OFX

Nichibo reduces FX risk on 35,000–40,000 vehicle sales a year with OFX

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 sought a better solution, which they found with the vendor OFX.

OFX provided Nichibo with personalized service and deep currency knowledge to manage their FX exposure. The solution included a dedicated account management team that offered consistency and support, along with tools like detailed market-to-market reports. This partnership allowed Nichibo to lock in exchange rates, eliminate FX risk for their customers, and secure their own profit margins, handling transactions for their turnover of over 35,000 vehicles per annum.

Nichibo