Company: CNCKW
Filing Date: 2025-04-10
Form Type: 424B3
Source: 0001213900-25-030417
Chunk: 341

Company: Coincheck Group N.V.
Filing Date: 2025-04-10
Form: 424B3
Chunk 341
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 assets on the Ethereum network. (*4)The crypto assets with the balance less than 10% of the total are disclosed in the “Others” category. Within the “Others” category, crypto assets with the highest yen value were IOST amounting to 17,020 million yen and SHIB amounting to 11,126 million yen as of March 31, 2024, and December 31, 2024, respectively. 10.Crypto asset borrowings The Group enters into borrowing agreements with customers under the Coincheck Lending program. The Group has control over crypto assets borrowed/deposited under the program. Therefore, the repayment obligation with respect to the crypto assets borrowed/deposited is recorded as “Crypto asset borrowings,” and the corresponding crypto assets received are recognized as inventories in the condensed consolidated interim statements of financial position. Crypto asset borrowings are initially measured at the fair value of the crypto assets borrowed/deposited. Subsequent to initial recognition, changes in fair value of crypto asset borrowings are recognized in profit or loss in the corresponding period. See Note 12 “Fair value measurement.” The interest expenses related to crypto asset borrowings, paid in the same cryptocurrency, for the three months ended December 31, 2023, and December 31, 2024, were 9 million yen and 13 million yen, respectively, and the interest expenses related to crypto asset borrowings, paid in the same cryptocurrency, for the nine months ended December 31, 2023, and December 31, 2024, were 23 million yen and 31 million yen, respectively, which were included in “Selling, general, and administrative expenses” in the condensed consolidated interim statements of profit or loss and other comprehensive income. The interest expenses related to crypto asset borrowings for the nine months ended December 31, 2023, and December 31, 2024, are included as an adjustment to reconcile profit (loss) to “Cash flows from operating activities” in the condensed consolidated interim statements of cash flows. 11. Financial instruments (1)The fair values of financial assets and liabilities are determined as below. Information about the fair value hierarchy is described in Note 12 “Fair value measurement.” (a)Cash and cash equivalents Since cash and cash equivalents mainly consist of bank deposits, the carrying amount approximates their fair value.

F-79 COINCHECK GROUP N.V. and its subsidiaries.
NOTES TO THE CONDENSED CONSOLIDATED INTER