Magnetic properties of $Nd_4Fe_{77.5}B_{18.5}$ compound in term of exchange coupling between $Nd_2Fe_{14}B$ and $Fe_3B$ magnetic nano crystals in melt spun powders were characterized by varying the quenching speed in mass production line. The exchange coupled phenomenon was characterized as functions of nano crystal size and volume fraction of each magnetic phase which was possible by employing Henkel plot (${delta}M$) and refined Mossbauer spectroscopy. The optimized magnetic properties obtained from the present volume production line were: $B_r= 11.73 kG,{_i}H_c/ = 3.082 kOe$, and $(BH)_{max} = 12.28 MGOe.$ The volume fraction of each magnetic phase for those conditions giving the grain size of 10 nm were ${alpha}-Fe; 4.2%, Fe_3B; 60.1 %$, and $Nd_2Fe_{14}B; 35.7%$. The superior magnetic properties in the $Nd_2Fe_{14}Fe_3B$ based nanocomposites were confirmed to be dependant on the volume fraction of $Fe_3B$.