Company: CNCKW
Filing Date: 2025-01-28
Form Type: F-1
Source: 0001213900-25-007203
Chunk: 114

Company: Coincheck Group N.V.
Filing Date: 2025-01-28
Form: F-1
Chunk 114
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 waves aligned with crypto asset price cycles, which tend to be volatile and draw new customers, investments, and developers into the crypto ecosystem. For example, according to closing day pricing information from CoinMarketCap, as the price of Bitcoin increased from approximately ¥432,000 during March 2020 to over ¥3,000,000 in December 2020 to new all -timehighs of over ¥7,500,000 in November 2021, we experienced a corresponding increase in the usage on our Marketplace platform. However, the price of Bitcoin fell to approximately ¥5,330,000 as of December 31, 2021 and was approximately ¥5,550,000 as of March 31, 2022 before falling further to approximately ¥3,800,000 as of March 31, 2023. These price trends and other uncertainties affecting the global crypto markets adversely affected trading volume on our Marketplace platform in the fiscal year ended March 31, 2023, contributing to a sharp decline in total revenue and recognition of a net loss for the fiscal year. Although the price of Bitcoin increased to approximately ¥5,960,000 as of December 31, 2023 and has been on a general trend upwards since, with prices reaching record highs at approximately ¥10,800,000 as of March 31, 2024 and remaining at relatively stable levels since then despite dropping slightly to approximately ¥9,327,000 as of September 30, 2024, there have been a number of major crypto asset price cycles over the past decade and price cycles continue to be volatile. 73 Due to the highly volatile nature of crypto asset prices and trading activity, historically our operating results have fluctuated significantly from quarter to quarter in line with market sentiment and trading activity. As of September 30, 2024, our customer assets (IFRS) were ¥639billion and our marketplace trading volume during the six months ended September 30, 2024 was ¥128.1billion. For the fiscal year ended March 31, 2024, our total revenue was ¥224,049 million, our net profit was ¥1,967 million and EBITDA, a non -IFRSmeasure, was ¥3,525 million. For the six months ended September 30, 2024, our total revenue was ¥145,647million, our net profit was ¥452million and EBITDA, a non -IFRSmeasure, was ¥1,001 million. See “