Company: CNCKW
Filing Date: 2025-08-29
Form Type: POS AM
Source: 0001213900-25-082038
Chunk: 76

Company: Coincheck Group N.V.
Filing Date: 2025-08-29
Form: POS AM
Chunk 76
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 during our fiscal year ended March 31, 2023 our accounting policy for Marketplace platform transactions, and reconsideration of the policy for revenue recognition was determined appropriate based upon the development of interpretive guidance across the blockchain and digital asset industry, as well as information obtained from conversations with our auditors, third -partyconsultants, and other relevant parties. Based on this reconsideration, we determined that use of the former accounting policy had resulted in a material misstatement of Coincheck’s marketplace transaction 41 revenue and costs of sales for the years ended March 31, 2021 and 2022, which required our restatement. We applied the corrected accounting policy for transaction revenue recognition in our audited financial statements for the year ended March 31, 2023, and have continued to do so thereafter, including for this prospectus. Management has concluded that, even though the corrected accounting policy for transaction revenue recognition has been applied beginning with our year -endfinancial statements for the year ended March 31, 2023, the material weakness has not been completely remediated. Management’s remediation program, which includes actively monitoring and staying informed of the latest accounting practices related to crypto assets among SEC registrants, has not been completed and operating for a sufficient period of time while we have been a publicly traded company (i.e., since December 11, 2024), and therefore our internal control over financial reporting was not effective in this regard as of March 31, 2025. We intend to complete the remediation process during our current fiscal year, but we cannot provide assurances that we will be successful or prevent additional material weaknesses or significant deficiencies in our internal controls over financial reporting in the future. We qualify as a foreign private issuer (FPI) within the meaning of the rules under the Exchange Act, and as such we are exempt from certain provisions applicable to United States domestic public companies. Because we qualify as a foreign private issuer under the Exchange Act, we are exempt from certain provisions of the securities rules and regulations in the United States that are applicable to U.S. domestic issuers, including: (i) the rules under the Exchange Act requiring the filing of quarterly reports on Form 10 -Qor current reports on Form 8 -Kwith the SEC; (ii) the sections of the Exchange Act regulating the solicitation of proxies, consents, or authorizations in respect of a security registered under the Exchange Act; (iii) the sections of the Exchange Act requiring insiders to file public reports of their share ownership