Company: CNCKW
Filing Date: 2025-01-28
Form Type: F-1
Source: 0001213900-25-007203
Chunk: 281

Company: Coincheck Group N.V.
Filing Date: 2025-01-28
Form: F-1
Chunk 281
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 measurement subsequent to the initial recognition uses the cost model, and crypto assets held (non -currentassets) are not amortized and are reported at the acquisition cost less accumulated impairment losses. Crypto assets held (non -currentassets) are subject to impairment tests at the same time each year and when there are indications of impairment. The Company considers that there is an indication of impairment when the value of assets such as market price is significantly decreasing, or when significant changes with an adverse effect have taken place during the period in the technological or market environment of each crypto asset. The impairment test is performed by comparing their carrying amount with their recoverable amount for each acquisition price for cryptocurrencies and individual NFTs. The recoverable amount of crypto assets held (non -currentassets) is estimated as fair value less cost of disposal. The fair value less cost of disposal is measured based on the quoted price of crypto assets less transaction fees. In addition, with respect to the cost of selling, cryptocurrencies are calculated based on the first -in, first -outbasis and NFTs are calculated based on specific identification of cost. The Company recognizes cryptocurrencies received through airdrops or forks if the cryptocurrencies are expected to generate probable future benefit and if the Company is able to support the trading, custody, or withdrawal of these assets. (b)Crypto asset borrowings Crypto asset borrowings (Note 20) are recorded as the contractual repayment obligation with respect to crypto assets borrowed/deposited from the Company’s customers under the Coincheck Lending program. Crypto asset borrowings are initially measured at the fair value of the subject crypto assets as the Company incurs an obligation to return the same type and the same amount of crypto assets borrowed/deposited from customers. Subsequent to initial recognition, changes in fair value of crypto asset borrowings are recognized in profit or loss in the period in which the changes occur because the fair value of the crypto assets fairly demonstrates the obligation to return the crypto assets borrowed/deposited from its customers. In addition, the borrowing fee is calculated by multiplying the quantities of the borrowed crypto assets by the interest rate and recognized as an expense over the borrowing period. F-13 COINCHECK, INC.
NOTES TO THE FINANCIAL STATEMENTS 3.Material accounting policies (cont.) (c)Safeguard assets/Safeguard liabilities The Company has an obligation to safeguard customer crypto assets from loss or theft. Therefore, the Company records an obligation to safeguard crypto assets deposited by customers as safeguard liabilities under current liabilities in the statements of financial