diff --git a/g3blend/operators/io_export_xmot.py b/g3blend/operators/io_export_xmot.py
index 00fa137..113f4eb 100644
--- a/g3blend/operators/io_export_xmot.py
+++ b/g3blend/operators/io_export_xmot.py
@@ -113,6 +113,9 @@ def save_xmot(context: bpy.types.Context, filepath: str, global_scale: float, gl
         else:
             bone_matrix = bone_matrix
 
+        # Also consider the pose base matrix.
+        bone_matrix = bone_matrix @ pose_bone.matrix_basis
+
         loc, rot, scale = bone_matrix.decompose()
 
         motion_part = _add_chunk(chunks, Xmot.LmaChunkId.motionpart, 3, Xmot.CnkMotionPart)
diff --git a/g3blend/operators/io_import_xmot.py b/g3blend/operators/io_import_xmot.py
index 6a93ac1..cca2e55 100644
--- a/g3blend/operators/io_import_xmot.py
+++ b/g3blend/operators/io_import_xmot.py
@@ -81,6 +81,17 @@ def load_xmot(context: bpy.types.Context, filepath: str, global_scale: float, gl
                                                               _to_blend_quat(chunk.content.pose_rotation),
                                                               _to_blend_vec(chunk.content.pose_scale))
             last_motion_part_rest_matrix_inv = last_motion_part_rest_matrix.inverted_safe()
+
+            if last_motion_part not in arm_obj.pose.bones:
+                continue
+
+            pose_bone = arm_obj.pose.bones[last_motion_part]
+            # Set pose matrix used in xmot (relative to bone's rest matrix)
+            bone = pose_bone.bone
+            rest_matrix = bone.matrix_local
+            if bone.parent is not None:
+                rest_matrix = bone.parent.matrix_local.inverted_safe() @ rest_matrix
+            pose_bone.matrix_basis = rest_matrix.inverted_safe() @ last_motion_part_rest_matrix
         elif isinstance(chunk.content, Xmot.CnkKeyFrame):
             if last_motion_part is None:
                 raise ValueError('KeyFrame chunk must be preceded by a MotionPart chunk.')
@@ -94,10 +105,6 @@ def load_xmot(context: bpy.types.Context, filepath: str, global_scale: float, gl
             pre_matrix = last_motion_part_rest_matrix_inv
             post_matrix = Matrix()
 
-            # Apply matrix
-            # TODO: Necessary?
-            # pose_bone.matrix_basis = bone_matrix
-
             keyframe_chunk = chunk.content
             match keyframe_chunk.animation_type:
                 # Position