diff --git a/src/babel/transformation/modules/_default.js b/src/babel/transformation/modules/_default.js
index ef30545cc7..73484953e9 100644
--- a/src/babel/transformation/modules/_default.js
+++ b/src/babel/transformation/modules/_default.js
@@ -61,7 +61,6 @@ var importsVisitor = {
     enter(node, parent, scope, formatter) {
       formatter.hasLocalImports = true;
       extend(formatter.localImports, this.getBindingIdentifiers());
-      formatter.bumpImportOccurences(node);
     }
   }
 };
@@ -69,7 +68,7 @@ var importsVisitor = {
 var exportsVisitor = traverse.explode({
   ExportDeclaration: {
     enter(node, parent, scope, formatter) {
-      formatter.hasLocalImports = true;
+      formatter.hasLocalExports = true;
 
       var declar = this.get("declaration");
       if (declar.isStatement()) {
@@ -96,10 +95,6 @@ var exportsVisitor = traverse.explode({
           formatter.hasNonDefaultExports = true;
         }
       }
-
-      if (node.source) {
-        formatter.bumpImportOccurences(node);
-      }
     }
   }
 });
@@ -117,7 +112,6 @@ export default class DefaultFormatter {
     this.hasLocalExports = false;
     this.hasLocalImports = false;
 
-    this.localImportOccurences = object();
     this.localExports = object();
     this.localImports = object();
 
@@ -133,15 +127,6 @@ export default class DefaultFormatter {
     return (t.isExportDefaultDeclaration(node) || t.isSpecifierDefault(node)) && !this.noInteropRequireExport && !this.hasNonDefaultExports;
   }
 
-  bumpImportOccurences(node) {
-    var source = node.source.value;
-    var occurs = this.localImportOccurences;
-    occurs[source] ||= 0;
-    if (node.specifiers) {
-      occurs[source] += node.specifiers.length;
-    }
-  }
-
   getLocalExports() {
     this.file.path.traverse(exportsVisitor, this);
   }
@@ -151,7 +136,7 @@ export default class DefaultFormatter {
   }
 
   remapAssignments() {
-    if (this.hasLocalImports) {
+    if (this.hasLocalExports || this.hasLocalImports) {
       this.file.path.traverse(remapVisitor, this);
     }
   }
diff --git a/src/babel/transformation/modules/amd.js b/src/babel/transformation/modules/amd.js
index 795792459f..dcf5b6e5ba 100644
--- a/src/babel/transformation/modules/amd.js
+++ b/src/babel/transformation/modules/amd.js
@@ -6,7 +6,9 @@ import * as util from  "../../util";
 import * as t from "../../types";
 
 export default class AMDFormatter extends DefaultFormatter {
-  init = CommonFormatter.prototype.init;
+  init() {
+    CommonFormatter.prototype._init.call(this, this.hasNonDefaultExports);
+  }
 
   buildDependencyLiterals() {
     var names = [];
@@ -100,15 +102,34 @@ export default class AMDFormatter extends DefaultFormatter {
     this.internalRemap[specifier.local.name] = ref;
   }
 
-  exportSpecifier() {
-    CommonFormatter.prototype.exportSpecifier.apply(this, arguments);
+  exportSpecifier(specifier, node, nodes) {
+    if (this.doDefaultExportInterop(specifier)) {
+      nodes.push(util.template("exports-default-assign", {
+        VALUE: specifier.local
+      }, true));
+    } else {
+      CommonFormatter.prototype.exportSpecifier.apply(this, arguments);
+    }
   }
 
-  exportDeclaration(node) {
+  exportDeclaration(node, nodes) {
     if (this.doDefaultExportInterop(node)) {
       this.passModuleArg = true;
+
+      var declar = node.declaration;
+      var assign = util.template("exports-default-assign", {
+        VALUE: this._pushStatement(declar, nodes)
+      }, true);
+
+      if (t.isFunctionDeclaration(declar)) {
+        // we can hoist this assignment to the top of the file
+        assign._blockHoist = 3;
+      }
+
+      nodes.push(assign);
+      return;
     }
 
-    CommonFormatter.prototype.exportDeclaration.apply(this, arguments);
+    DefaultFormatter.prototype.exportDeclaration.apply(this, arguments);
   }
 }
diff --git a/src/babel/transformation/modules/common.js b/src/babel/transformation/modules/common.js
index 088d878556..609ec19625 100644
--- a/src/babel/transformation/modules/common.js
+++ b/src/babel/transformation/modules/common.js
@@ -5,13 +5,17 @@ import * as t from "../../types";
 
 export default class CommonJSFormatter extends DefaultFormatter {
   init() {
+    this._init(this.hasLocalExports);
+  }
+
+  _init(conditional) {
     var file  = this.file;
     var scope = file.scope;
 
     scope.rename("module");
     scope.rename("exports");
 
-    if (!this.noInteropRequireImport && this.hasNonDefaultExports) {
+    if (!this.noInteropRequireImport && conditional) {
       var templateName = "exports-module-declaration";
       if (this.file.isLoose("es6.modules")) templateName += "-loose";
       var declar = util.template(templateName, true);
@@ -20,6 +24,20 @@ export default class CommonJSFormatter extends DefaultFormatter {
     }
   }
 
+  transform(program) {
+    DefaultFormatter.prototype.transform.apply(this, arguments);
+
+    if (this.hasDefaultOnlyExport) {
+      program.body.push(
+        t.expressionStatement(t.assignmentExpression(
+          "=",
+          t.memberExpression(t.identifier("module"), t.identifier("exports")),
+          t.memberExpression(t.identifier("exports"), t.identifier("default"))
+        ))
+      );
+    }
+  }
+
   importSpecifier(specifier, node, nodes) {
     var variableName = specifier.local;
 
@@ -31,11 +49,15 @@ export default class CommonJSFormatter extends DefaultFormatter {
         this.internalRemap[variableName.name] = ref;
       } else {
         if (this.noInteropRequireImport) {
-          this.internalRemap[variableName.name] = t.memberExpression(ref, t.identifier("default"))
+          this.internalRemap[variableName.name] = t.memberExpression(ref, t.identifier("default"));
         } else if (!includes(this.file.dynamicImported, node)) {
+          var uid = this.scope.generateUidBasedOnNode(node, "import");
+
           nodes.push(t.variableDeclaration("var", [
-            t.variableDeclarator(variableName, t.callExpression(this.file.addHelper("interop-require"), [ref]))
+            t.variableDeclarator(uid, t.callExpression(this.file.addHelper("interop-require-wildcard"), [ref]))
           ]));
+
+          this.internalRemap[variableName.name] = t.memberExpression(uid, t.identifier("default"));
         }
       }
     } else {
@@ -64,29 +86,15 @@ export default class CommonJSFormatter extends DefaultFormatter {
 
   exportSpecifier(specifier, node, nodes) {
     if (this.doDefaultExportInterop(specifier)) {
-      nodes.push(util.template("exports-default-assign", {
-        VALUE: specifier.local
-      }, true));
-      return;
-    } else {
-      DefaultFormatter.prototype.exportSpecifier.apply(this, arguments);
+      this.hasDefaultOnlyExport = true;
     }
+
+    DefaultFormatter.prototype.exportSpecifier.apply(this, arguments);
   }
 
   exportDeclaration(node, nodes) {
     if (this.doDefaultExportInterop(node)) {
-      var declar = node.declaration;
-      var assign = util.template("exports-default-assign", {
-        VALUE: this._pushStatement(declar, nodes)
-      }, true);
-
-      if (t.isFunctionDeclaration(declar)) {
-        // we can hoist this assignment to the top of the file
-        assign._blockHoist = 3;
-      }
-
-      nodes.push(assign);
-      return;
+      this.hasDefaultOnlyExport = true;
     }
 
     DefaultFormatter.prototype.exportDeclaration.apply(this, arguments);
diff --git a/test/core/fixtures/transformation/es6.modules-common/exports-default/expected.js b/test/core/fixtures/transformation/es6.modules-common/exports-default/expected.js
index ca9e402df3..483aa14736 100644
--- a/test/core/fixtures/transformation/es6.modules-common/exports-default/expected.js
+++ b/test/core/fixtures/transformation/es6.modules-common/exports-default/expected.js
@@ -2,13 +2,16 @@
 
 var _classCallCheck = function (instance, Constructor) { if (!(instance instanceof Constructor)) { throw new TypeError("Cannot call a class as a function"); } };
 
-module.exports = foo;
-module.exports = 42;
-module.exports = {};
-module.exports = [];
-module.exports = foo;
+Object.defineProperty(exports, "__esModule", {
+  value: true
+});
+exports["default"] = foo;
+exports["default"] = 42;
+exports["default"] = {};
+exports["default"] = [];
+exports["default"] = foo;
 
-module.exports = function () {};
+exports["default"] = function () {};
 
 var _default = (function () {
   var _class = function _default() {
@@ -18,7 +21,7 @@ var _default = (function () {
   return _class;
 })();
 
-module.exports = _default;
+exports["default"] = _default;
 
 function foo() {}
 
@@ -26,5 +29,6 @@ var Foo = function Foo() {
   _classCallCheck(this, Foo);
 };
 
-module.exports = Foo;
-module.exports = foo;
+exports["default"] = Foo;
+exports["default"] = foo;
+module.exports = exports["default"];
\ No newline at end of file
diff --git a/test/core/fixtures/transformation/es6.modules-common/imports-default/expected.js b/test/core/fixtures/transformation/es6.modules-common/imports-default/expected.js
index 3f17b9a4e3..c9c905db61 100644
--- a/test/core/fixtures/transformation/es6.modules-common/imports-default/expected.js
+++ b/test/core/fixtures/transformation/es6.modules-common/imports-default/expected.js
@@ -1,12 +1,12 @@
 "use strict";
 
-var _interopRequire = function (obj) { return obj && obj.__esModule ? obj["default"] : obj; };
+var _interopRequireWildcard = function (obj) { return obj && obj.__esModule ? obj : { "default": obj }; };
 
 var _foo = require("foo");
 
-var foo = _interopRequire(_foo);
+var _foo2 = _interopRequireWildcard(_foo);
 
-var foo2 = _interopRequire(_foo);
+var _foo22 = _interopRequireWildcard(_foo);
 
-foo;
-foo2;
+_foo2["default"];
+_foo22["default"];
\ No newline at end of file
diff --git a/test/core/fixtures/transformation/es6.modules-common/imports-mixing/expected.js b/test/core/fixtures/transformation/es6.modules-common/imports-mixing/expected.js
index 67b4d1bb02..083ed5c427 100644
--- a/test/core/fixtures/transformation/es6.modules-common/imports-mixing/expected.js
+++ b/test/core/fixtures/transformation/es6.modules-common/imports-mixing/expected.js
@@ -1,10 +1,10 @@
 "use strict";
 
-var _interopRequire = function (obj) { return obj && obj.__esModule ? obj["default"] : obj; };
+var _interopRequireWildcard = function (obj) { return obj && obj.__esModule ? obj : { "default": obj }; };
 
 var _foo$xyz = require("foo");
 
-var foo = _interopRequire(_foo$xyz);
+var _foo$xyz2 = _interopRequireWildcard(_foo$xyz);
 
-foo;
-_foo$xyz.baz;
+_foo$xyz2["default"];
+_foo$xyz.baz;
\ No newline at end of file
diff --git a/test/core/fixtures/transformation/es6.modules-common/overview/expected.js b/test/core/fixtures/transformation/es6.modules-common/overview/expected.js
index 9da5b005e4..012ecdadeb 100644
--- a/test/core/fixtures/transformation/es6.modules-common/overview/expected.js
+++ b/test/core/fixtures/transformation/es6.modules-common/overview/expected.js
@@ -2,8 +2,6 @@
 
 var _interopRequireWildcard = function (obj) { return obj && obj.__esModule ? obj : { "default": obj }; };
 
-var _interopRequire = function (obj) { return obj && obj.__esModule ? obj["default"] : obj; };
-
 Object.defineProperty(exports, "__esModule", {
   value: true
 });
@@ -16,7 +14,7 @@ require("./directory/foo-bar");
 
 var _foo = require("foo2");
 
-var foo = _interopRequire(_foo);
+var _foo2 = _interopRequireWildcard(_foo);
 
 var _import = require("foo3");
 
@@ -32,4 +30,4 @@ var test = 5;
 exports.test = test;
 _bar.bar;
 _bar2.foo;
-foo;
+_foo2["default"];
\ No newline at end of file
diff --git a/test/core/fixtures/transformation/es6.modules-system/remap/expected.js b/test/core/fixtures/transformation/es6.modules-system/remap/expected.js
index 88cea183e8..c0922ff2b4 100644
--- a/test/core/fixtures/transformation/es6.modules-system/remap/expected.js
+++ b/test/core/fixtures/transformation/es6.modules-system/remap/expected.js
@@ -39,4 +39,4 @@ System.register([], function (_export) {
       _export("f", _export("e", d = 4));
     }
   };
-});
+});
\ No newline at end of file
diff --git a/test/core/fixtures/transformation/es7.export-extensions/default-commonjs/expected.js b/test/core/fixtures/transformation/es7.export-extensions/default-commonjs/expected.js
index 3da20ee56b..a6080cb65e 100644
--- a/test/core/fixtures/transformation/es7.export-extensions/default-commonjs/expected.js
+++ b/test/core/fixtures/transformation/es7.export-extensions/default-commonjs/expected.js
@@ -1,7 +1,11 @@
 "use strict";
 
+Object.defineProperty(exports, "__esModule", {
+  value: true
+});
+
 var _foo2 = require("bar");
 
-var _foo = babelHelpers.interopRequire(_foo2);
+var _foo3 = babelHelpers.interopRequireWildcard(_foo2);
 
-exports.foo = _foo;
+exports.foo = _foo3["default"];
\ No newline at end of file
diff --git a/test/core/fixtures/transformation/misc/regression-lodash-tostring-import/expected.js b/test/core/fixtures/transformation/misc/regression-lodash-tostring-import/expected.js
index 935f40aa45..f061cdb9ad 100644
--- a/test/core/fixtures/transformation/misc/regression-lodash-tostring-import/expected.js
+++ b/test/core/fixtures/transformation/misc/regression-lodash-tostring-import/expected.js
@@ -1,9 +1,9 @@
 "use strict";
 
-var _interopRequire = function (obj) { return obj && obj.__esModule ? obj["default"] : obj; };
+var _interopRequireWildcard = function (obj) { return obj && obj.__esModule ? obj : { "default": obj }; };
 
 var _toString = require("foo");
 
-var toString = _interopRequire(_toString);
+var _toString2 = _interopRequireWildcard(_toString);
 
-toString;
+_toString2["default"];
\ No newline at end of file
diff --git a/test/core/fixtures/transformation/react/display-name-export-default/expected.js b/test/core/fixtures/transformation/react/display-name-export-default/expected.js
index 991968ff6c..d0562083c6 100644
--- a/test/core/fixtures/transformation/react/display-name-export-default/expected.js
+++ b/test/core/fixtures/transformation/react/display-name-export-default/expected.js
@@ -1,7 +1,11 @@
-module.exports = React.createClass({
+Object.defineProperty(exports, "__esModule", {
+  value: true
+});
+exports["default"] = React.createClass({
   displayName: "actual",
 
   render: function render() {
     return null;
   }
 });
+module.exports = exports["default"];
\ No newline at end of file
diff --git a/test/core/fixtures/transformation/runtime/full/expected.js b/test/core/fixtures/transformation/runtime/full/expected.js
index 57046122e4..9be37be3ef 100644
--- a/test/core/fixtures/transformation/runtime/full/expected.js
+++ b/test/core/fixtures/transformation/runtime/full/expected.js
@@ -4,8 +4,6 @@ var _core = require("babel-runtime/core-js")["default"];
 
 var _regeneratorRuntime = require("babel-runtime/regenerator")["default"];
 
-var _interopRequire = require("babel-runtime/helpers/interop-require")["default"];
-
 var _interopRequireWildcard = require("babel-runtime/helpers/interop-require-wildcard")["default"];
 
 _core.Object.defineProperty(exports, "__esModule", {
@@ -30,12 +28,12 @@ exports.giveWord = giveWord;
 
 var _foo = require("someModule");
 
-var foo = _interopRequire(_foo);
+var _foo2 = _interopRequireWildcard(_foo);
 
 var bar = _interopRequireWildcard(_foo);
 
 var myWord = _core.Symbol("abc");
 exports.myWord = myWord;
 
-foo;
-bar;
+_foo2["default"];
+bar;
\ No newline at end of file
diff --git a/test/core/fixtures/transformation/runtime/modules-common/expected.js b/test/core/fixtures/transformation/runtime/modules-common/expected.js
index 532d321985..83da9d72d2 100644
--- a/test/core/fixtures/transformation/runtime/modules-common/expected.js
+++ b/test/core/fixtures/transformation/runtime/modules-common/expected.js
@@ -1,9 +1,9 @@
 "use strict";
 
-var _interopRequire = require("babel-runtime/helpers/interop-require")["default"];
+var _interopRequireWildcard = require("babel-runtime/helpers/interop-require-wildcard")["default"];
 
 var _foo = require("foo");
 
-var foo = _interopRequire(_foo);
+var _foo2 = _interopRequireWildcard(_foo);
 
-foo;
+_foo2["default"];
\ No newline at end of file