Company: CNCKW
Filing Date: 2025-01-28
Form Type: F-1
Source: 0001213900-25-007203
Chunk: 21

Company: Coincheck Group N.V.
Filing Date: 2025-01-28
Form: F-1
Chunk 21
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 factors                       |     | Prospective investors should carefully consider the “Risk Factors” for a discussion of certain factors that should be considered before buying the securities offered hereby.                                                                                                                                                                                   |

11 RISK FACTORS You should carefully consider the risks described below before making an investment decision. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. Our business, financial condition or results of operations could be materially and adversely affected by any of these risks. The trading price and value of our Ordinary Shares and Warrants could decline due to any of these risks, and you may lose all or part of your investment. This prospectus and any prospectus supplement or related free writing prospectus also contain forward -looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward -looking statements as a result of certain factors, including the risks faced by us described below and elsewhere in this prospectus and any prospectus supplement or related free writing prospectus. Unless the context requires otherwise, references to “we,” “us,” “our,” or “Coincheck” in this section are to the business and operations of Coincheck, Inc.prior to the Business Combination and the business and operations of our company as directly or indirectly affected by Coincheck, Inc. by virtue of our ownership of the business of Coincheck, Inc. through our ownership of the surviving corporation following the Business Combination. Risks Relating to Our Business and Industry Our total revenue is substantially dependent on the prices of crypto assets and volume of transactions conducted on our Marketplace platform. If such prices or volumes decline, our business, operating results, and financial condition would be adversely affected, as well as our stock price. In the years ended March 31, 2022, 2023 and 2024 and in the six months ended September 30, 2024, 99.6%, 98.9%, 99.6% and 99.4%, respectively, of our total revenue consisted of transaction revenue generated from trades of customers and cover counterparties on our Marketplace platform business. Any declines in the volume of crypto asset transactions by retail investors in Japan, the price of crypto assets we support, or market liquidity for crypto assets generally may result in lower revenue to us. Additionally, a decline in the number of our monthly users may negatively impact our volume of transactions. For example, we have recorded a decline in monthly users since March 31, 2022 as a result, in part, of