Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 263

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 16
Chunk 263
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 we 
are exempt from certain provisions of the Exchange Act that are applicable to U.S. domestic public companies. 
Under Rule 405 of the Securities Act, the determination of foreign private issuer status is made annually on the last 
business day of an issuer’s most recently completed second fiscal quarter, so our next determination will be made 
based on our relevant facts as of September 30, 2025. We do not expect our foreign private issuer status to change 
when we make such determination as of that date.
We are also a “controlled company” within the meaning of the Nasdaq corporate governance standards 
because Monex holds a majority of the voting power of our Ordinary Shares eligible to vote in the election of our 
directors. Under the Nasdaq corporate governance standards, a company of which more than 50% of the voting 
power is held by an individual, group or another company is a “controlled company.”
Implications of Being a Foreign Private Issuer
The discussion below summarizes the significant differences between our corporate governance practices 
and the Nasdaq listing standards applicable to U.S. companies. The DCGC is based on a “comply or explain” 
principle, and as set below, we also discuss certain ways in which our governance practices deviate from those 
suggested in the DCGC.
Under the Nasdaq rules, U.S. domestic listed companies are required to have a majority independent board, 
which is not required under the Dutch Corporate Governance Code of the Netherlands, our home country. In 
addition, the Nasdaq rules require U.S. domestic listed companies to have an independent compensation committee 
and that our director nominations be made, or recommended to our full board of directors, by our independent 
directors or by a nominations committee that is comprised entirely of independent directors, which are not required 
under our home country laws. Currently, we have a majority independent board and all of our board committees 
consist solely of independent directors, but, other than always maintaining an audit committee with only 
independent directors, that could change in the future.
Further, for as long as we qualify as a foreign private issuer, we will be exempt from certain provisions of 
the Exchange Act that are applicable to U.S. domestic public companies, including:
•        the sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations in 
respect of a security registered under the Exchange Act;
•        the sections of the Exchange Act requiring insiders to file public reports of their stock