Company: CNCKW
Filing Date: 2025-01-28
Form Type: F-1
Source: 0001213900-25-007203
Chunk: 191

Company: Coincheck Group N.V.
Filing Date: 2025-01-28
Form: F-1
Chunk 191
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. There is not a similar immediate withdrawal process in place for other cover counterparties because we believe that the amount of crypto assets deposited with other cover counterparties, and after taking other factors including any pending legal actions against those cover counterparties into consideration, do not warrant such a system at this time. Competition We operate in a highly regulated and competitive market in Japan. Markets relating to crypto assets have been growing quickly and, given the nascency of the crypto asset industry and the early -stageadoption of crypto assets in Japan, we expect the competitive landscape to be rapidly evolving. As of September 30, 2024, there were 29 crypto asset exchange service providers registered with the JFSA in Japan. Our competitors include independent providers in Japan, including bitFlyer, GMO Coin, Bitbank and Mercoin, as well as providers affiliated with foreign 129 exchanges, including Huobi Japan. In addition, Binance announced that it has acquired Sakura Exchange BitCoin in November 2022 to enter the Japanese market and launched its initial services on its platform in August 2023, while Coinbase K.K. and Kraken shut down their services in Japan. We compete on factors including: •the quality of our user interface for both smartphone and PC users; •the security of our cryptocurrency exchanges and reliability of execution; •provision of information and brand strength, including our association with Monex Group; and •innovation to provide additional products and services of interest to our customers. Employees As of September 30, 2024, we had 182 full -timeemployees, (excluding directors, executive officers, audit and supervisory board members, contract employees, temporary employees, and temporary staff), 38.5% of which were engineers, allowing us to innovate rapidly to maintain our competitive edge. We work to identify, attract, and retain employees who are aligned with and will help us progress our mission. In recognition of our positive work environment that supports flexibility, childbirth and childcare, and promotes work -lifebalance, in November 2021 we were awarded the “7 thWhite Company Award” sponsored by the Japan Next Generation Enterprise Promotion Organization in the employee benefits category. This award recognizes noteworthy human resource systems and initiatives among companies that have obtained the White Company Certificate. This was our second time winning this award, following our recognition in the “Flexible Working Category” in the first half of 2021. Furthermore, in January 2023, our strong commitment towards improving our employees’ well -beingwas recognized, and we