Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 255

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 11
Chunk 255
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Item 11.Quantitative and Qualitative Disclosure About Markets Risks
Market risk is the risk to our consolidated financial statements associated with the effect of changes in 
market factors, including risks associated with interest rates, foreign currency, derivatives and crypto assets. These 
assets and liabilities are held for purposes other than trading.
Interest Rate Risk
Our exposure to changes in interest rates primarily relates to interest earned on our cash and cash 
equivalents and customer custodial funds.

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Our investment policy and strategy related to our cash and cash equivalents and customer custodial funds is 
to preserve capital and meet liquidity requirements without increasing risk. These funds consist mainly of cash 
deposits, and therefore the fair value of our cash and cash equivalents and customer custodial funds would not be 
significantly affected by either an increase or a decrease in interest rates. Also, in Japan, interest rates are set by the 
Bank of Japan's Policy Board in its Monetary Policy Meetings. The Bank of Japan's official interest rate is the 
discount rate. The Bank of Japan kept its key short-term interest rate unchanged at 0.5% during its June meeting, 
maintaining the highest level since 2008. (In the late 1990s, the Bank of Japan employed a zero interest rate policy 
(ZIRP), and the official interest rate in Japan has not exceeded 0.5% since then, and at times has been negative. 
More specifically, the official interest rate was 0.1% from 2014-2016, then -0.1% from 2016-2023, before gradually 
rising to 0.25% and then 0.5%.)
Foreign Currency Translation Risk
The Company has exposure to changes in currency rates as a result of operations by subsidiaries in non-
Japanese jurisdictions. Revenue and income/loss generated by international operations will increase or decrease 
compared to prior periods as a result of changes in foreign currency exchange rates. The operations impacted by 
foreign currency risk are not significant relative to the operations of the Company and, as a result, our exposure to 
foreign currency risk is not material. Currently, we do not hedge our foreign exchange exposure but may consider 
doing so in the future.
Market Risk of Crypto Assets
Accordingly, crypto asset price risk could adversely affect our operating results. In particular, our future 
profitability may depend upon the market price and overall price volatility of Bitcoin, Ethereum, and XRP, as well 
as other crypto