Company: CNCKW
Filing Date: 2025-01-28
Form Type: F-1
Source: 0001213900-25-007203
Chunk: 316

Company: Coincheck Group N.V.
Filing Date: 2025-01-28
Form: F-1
Chunk 316
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 agreements with customers), cryptocurrencies for facilitating customer transactions, are recognized as inventories in the statements of financial position according to provisions of IAS 2 Inventoriesas the Company has the ability to direct the use of these cryptocurrencies and the economic benefits resulting from sales attribute to the Company. As of March 31, 2024 and September 30, 2024, the carrying amounts were 44,207 million yen and 35,633 million yen, respectively. These amounts are calculated based on the fair value at the end of the reporting period. See Note 10 “Fair value measurement.” (b)NFTs for sale NFTs for sale are recognized as inventories in the statements of financial position according to provisions of IAS 2 Inventoriesas the Company has the ability to direct the use of these NFTs and economic benefits resulting from sales attribute to the Company. The carrying amounts are measured at the lower of cost or net realizable value. However, there were no crypto assets held as NFT as of March 31, 2024 and September 30, 2024. F-59

COINCHECK, INC.
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (UNAUDITED) 6.Crypto assets held (cont.) (2)Crypto assets held (non -currentassets) Crypto assets held (non -currentassets) are recognized as intangible assets with indefinite useful lives which are not amortized. There is no foreseeable limit to the period over which the future cash flows of crypto assets held (non -currentassets) would be generated as the future cash flows cannot be reliably estimated. The useful lives of crypto assets held (non -currentassets) are regarded as indefinite accordingly. They are reported at the acquisition cost less accumulated impairment losses. However, there were no crypto assets held (non -currentassets) as of March 31, 2024 and September 30, 2024. 7.Safeguard assets / Safeguard liabilities In addition to the control assessment of crypto assets deposited by customers as described in Note 6 “Crypto assets held,” the Company implemented the requirements of the Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin 121, Accounting for obligations to safeguard crypto -assets an entity holds for platform users(“SAB 121”), and recognized the obligation to safeguard its crypto assets deposited by customers as Safeguard liabilities and recorded corresponding Safeguard assets in the statements of financial position. The Company managed its crypto assets deposited by