Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 113

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 4
Chunk 113
---
 Inc., a Delaware corporation, provides certain administrative services to Coincheck 
Parent. Following the Business Combination, M1 Co was a direct, wholly owned subsidiary of Coincheck Parent 
and the sole shareholder of Coincheck, but, on June 20, 2025, was merged into Coincheck, resulting in Coincheck 
Parent becoming the sole shareholder of Coincheck.
B.Business Overview
Our Mission
We believe we are, today, a leader in the Japanese retail crypto asset industry through our Marketplace 
platform offering and related retail crypto services.  Our mission is threefold: (1) to increase our share of the 
growing Japanese crypto asset retail market through our Marketplace platform, including by adding or enhancing 
new or recent features and related services attractive to our customers; (2) to expand our institutional business, such 
as through the recent launch of the Coincheck Prime brand and our Coincheck IEO platform; and (3) mainly through 
acquisitions, investments, or joint ventures or other strategic partnerships, to acquire and operate retail and 
institutional crypto businesses outside of Japan, such as in Europe and other regions.  
Overview
Since the launch of our crypto asset exchange in 2014, we have provided a young, highly-engaged retail 
customer base with the opportunity to become familiar with crypto assets by offering a service we believe is easy for 
anyone to use, regardless of financial or technological literacy. We operate, through our platforms, one of the largest 
multi-cryptocurrency marketplaces in Japan. We had as of March 31, 2025, according to the JVCEA, a 24.9% 
market share in Japan by trading volume, and our approximately 2.3 million verified users represent an 18.5% retail 
market share.  As of March 31, 2023, 2024 and 2025, our customer assets were ¥344 billion, ¥744 billion and ¥859 
billion, respectively. Our marketplace trading volume was ¥157.1 billion, ¥234.6 billion and ¥337.5 billion during 
the years ended March 31, 2023, 2024 and 2025, respectively. 
We believe that our customers choose us due to our trusted and recognized brand, robust product offering 
and strong customer service. Approximately 51% of our verified accounts are held by customers under 40 as of 
March 31, 2025, providing the opportunity for our business to grow alongside our