Company: CNCKW
Filing Date: 2025-05-20
Form Type: 424B3
Source: 0001213900-25-046039
Chunk: 2

Company: Coincheck Group N.V.
Filing Date: 2025-05-20
Form: 424B3
Chunk 2
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 the account owner completes all application procedures (including “know your customer” or “KYC”), after 
 subtracting therefrom the total number of closed accounts.                                                    |

| 4 | Customer Assets are preliminary figures prepared in accordance                                                                         
 with Japanese generally accepted accounting principles (JGAAP) and differ from the financial figures of Coincheck Group N.V., prepared 
 in accordance with IFRS Accounting Standards (“IFRS”), and may be revised in the future.                                               |

| 5 | Marketplace Trading Volume for a specific period is the total                                                          
 value, based on the underlying asset, of all transactions completed through Coincheck’s marketplace platform business. |

| 6 | Transaction expenses for the third and fourth quarters of                                                                            
 fiscal 2025 were mainly cash and non-cash expenses related to the Company’s de-SPAC business combination, including listing expense, 
 that closed in December 2024.                                                                                                        |

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| ● | Adjusted                                                                                   
 EBITDA7 decreased 46%, to ¥1,692 million                                                   
 ($11.3 million) in the fourth quarter of fiscal 2025 from ¥3,111 million ($20.8 million)   
 in the fourth quarter of fiscal 2024, and increased 52%, to ¥5,718 million ($38.1 million) 
 in the fiscal 2025 full year from ¥3,773 million ($25.2 million) in the fiscal 2024 full   
 year.                                                                                      |

Certain Quarter-Over-Quarter Highlights

| ● | Total revenue decreased 7%                                                                                                    
 to ¥114.6 billion ($764 million) in the fourth quarter of fiscal 2025, compared to ¥123.1 billion ($821 million) in the third 
 quarter of fiscal 2025.                                                                                                       |

| ● | Gross margin decreased 26%                                                                                                      
 to ¥3.5 billion ($24 million) in the fourth quarter of fiscal 2025, compared to ¥4.8 billion ($32 million) in the third quarter 
 of fiscal 2025.                                                                                                                 |

| ● | Verified Accounts increased                                                                                                              
 4.3% to 2,291,103 as of the end of the fourth quarter of fiscal 2025, compared to 2,197,619 as of the end of the third quarter of fiscal 
 2025.                                                                                                                                    |

| ● | Customer Assets decreased 25%                                                                                                 
 to ¥859.2 billion ($5,