Company: CNCKW
Filing Date: 2025-04-10
Form Type: 424B3
Source: 0001213900-25-030417
Chunk: 319

Company: Coincheck Group N.V.
Filing Date: 2025-04-10
Form: 424B3
Chunk 319
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ments that are readily convertible to a known amount with an insignificant risk of change in value. (h)Cash segregated as deposits Cash segregated as deposits includes cash deposited in trust accounts, and accordingly, cash segregated as deposits is reported as such in the condensed consolidated interim statements of financial position. (i)Customer accounts receivable Customer accounts receivable is mainly due from credit card companies, which are payment processors, for settlement of funds from customers. Customer accounts receivable is recognized initially at fair value. The Group holds the customer accounts receivable with the objective of collecting the contractual cash flows and therefore measures them subsequently at amortized cost. (3)Crypto assets (a)Crypto assets held Crypto assets held (current assets) consist of cryptocurrencies for facilitating customer transactions and NFTs for sale and are recognized as inventories. Cryptocurrencies for facilitating customer transactions are recognized at acquisition price at initial recognition, and at fair value, less costs to sell subsequent to the initial recognition since these are held with the purpose of acquiring broker -traders’ margin. Subsequent to the initial recognition, changes in fair value are recognized in profit or loss in the period in which the change occurs. The Group uses major third -partyexchanges with high volume and liquidity to measure the fair value of its cryptocurrency. The exchange selected by the Group for each cryptocurrency offers the highest volume and liquidity of trades (i.e., principal market). If a principal market does not exist (e.g., when the volume and liquidity of trades are similar between two or more different markets), the Group uses the most advantageous market. The most advantageous market offers high volume, liquidity of trades, and the most favorable spread, maximizing the amount that would be received to sell the asset, net of transaction costs or minimizing the amount that would be paid to transfer the liability. The fair value is measured by using a midmarket pricing of the principal market or the most advantageous market. Substantially all of cryptocurrencies held by the Group consist of crypto assets borrowed/deposited from customers under the Coincheck Lending program. NFTs for sale are measured at cost at the initial recognition and subsequently measured at the lower of cost or net realizable value. The net realizable value is estimated based on expected selling price, less reasonably predictable costs of completion and disposal with the consideration of NFT market trends and other factors. In addition, with respect to the cost of sales, the NFT cost basis is determined by specific identification. The Group recognizes cryptocurrencies received through airdrops or forks if the cryptocurrencies are expected