Company: CNCKW
Filing Date: 2025-03-27
Form Type: F-1/A
Source: 0001013762-25-003470
Chunk: 130

Company: Coincheck Group N.V.
Filing Date: 2025-03-27
Form: F-1/A
Chunk 130
---
. 121, Accounting for Obligations to Safeguard Crypto -Assets an Entity Holds for Platform Users, which required an entity to record a liability to reflect its obligation to safeguard the crypto assets held for its platform users with a corresponding asset and required disclosures related to the entity’s safeguarding obligations. SAB No. 122 is effective for annual periods beginning after December15, 2024, and is required to be applied on a fully retrospective basis, with early adoption permitted. Upon application of the rescission of SAB No. 121, the Company will no longer recognize the safeguard liabilities and corresponding safeguard assets on its consolidated financial statements. If the Company determines to recognize a liability related to the risk of loss under such an obligation, the measurement of such a liability will be determined by applying the recognition and measurement requirements for liabilities arising from contingencies in IAS37, Provisions, Contingent Liabilities and Contingent Assets, under IFRS. As of the date of this prospectus, the Company is evaluating the impact of adopting the guidance. The related impact will be disclosed when the Company completes its evaluation. 79

Given the rapid pace of change in the crypto exchange industry and the evolving regulatory environment globally, any such expansion could subject us to differing regulatory regimes and significant compliance costs as discussed under “ Risk Factors — Risks Relating to Our Business and Industry — If we expand our international activities, our obligations to comply with the laws, rules, regulations, and policies of a variety of jurisdictions will increase and we may be subject to investigations and enforcement actions by non -Japanese regulators and governmental authorities.” Additionally, as an SEC -registeredcompany that is listed on Nasdaq, we are subject to certain reporting and regulatory requirements in the United States. Components of Results of Operations Total revenue Total revenue consists of transaction revenue, commission received, and other revenue. Our primary revenue stream is from our Marketplace platform where 29 different types of cryptocurrencies can be traded as of December 31, 2024, including BTC, Ethereum and other altcoins. However, our revenue is susceptible to significant fluctuations as trading volumes in our Marketplace platform depend on cryptocurrency market volatility and prices, which ultimately impacts how much revenue we earn. Transaction revenue Our Marketplace platform business is the main source of transaction revenue. Transaction revenue from our Marketplace platform business is derived from transactions with customers and cover counterparties. The table below shows this breakdown of transaction revenue for the fiscal years indicated:

|                                        |     | 2022 | For the fiscal year ended 
                 March