Company: CNCKW
Filing Date: 2025-08-29
Form Type: POS AM
Source: 0001213900-25-082038
Chunk: 99

Company: Coincheck Group N.V.
Filing Date: 2025-08-29
Form: POS AM
Chunk 99
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, we may not be able to introduce attractive products or services to institutional users, or such institutions may choose to do business with our competitors. Ability to competitively price our products and services Our operating results also depend on our ability to competitively price our products and services. Similar to other financial products, as the crypto asset industry matures we anticipate increased pressure on spreads and commission fees to emerge over time as new, and potentially larger and more established, financial institutions enter the market. While we believe that we will be able to maintain our position as a trusted brand in Japan and continue to enhance our customer -valueproposition and grow our scale, including growing our customer base, in order to offset the effects of any future price pressure on our fees, if we are unable to do so or if such price pressure emerges more rapidly than we anticipate our operating results may be adversely affected. Marketing Our primary means of marketing is digital marketing, which allows us to respond flexibly to the impact of changes in the market price of crypto assets. We use television advertisements only to the extent we believe those investments can produce a reasonable return within a reasonable period of time based on our estimated conversion ratio and other factors. Generally, we estimate our return of investment per marketing campaign, which is a primary factor in our decision as to whether we launch the campaign. Our advertising and promotion expenses are directed towards customer acquisition. They totaled ¥430million and ¥477million for the three months ended June30, 2025 and 2024, respectively, and the number of new accounts opened totaled 60,120 and 79,227, respectively. Beginning in May 2024, we resumed the airing of television advertisements, which caused our advertising costs to increase in the three months ended June30, 2024. The main components of our advertising and promotional expenses are web advertising, affiliate marketing programs, television advertising, and marketing campaign expenses, which accounted for (i) 36.9%, 40.2%, 8.1%, and 13.0%, respectively, for the three months ended June30, 2025, and (ii) 10.7%, 36.1%, 36.3% and 16.4%, respectively, for the three months ended June30, 2024. They totaled ¥1,874 million and ¥661 million for the years ended March 31, 2025 and 2024, respectively, and the number of new accounts opened totaled 309,951 and 178,949, respectively.