Company: CNCKW
Filing Date: 2025-01-28
Form Type: F-1
Source: 0001213900-25-007203
Chunk: 142

Company: Coincheck Group N.V.
Filing Date: 2025-01-28
Form: F-1
Chunk 142
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 value as of the end of the reporting period. The fair value is measured at the transaction prices of main cryptocurrency exchanges. Almost all of these cryptocurrencies consist of cryptocurrencies we have borrowed from our customers. As of September 30, 2024, crypto asset borrowings totaled ¥35,491 million. We determine the amount of crypto assets to hold based on the total size of our customer assets and recent trading levels. Our Accounting & Finance Department is responsible for monitoring and determining the appropriate amount, and our Dealing Department is then responsible for managing what amount of crypto assets to hold in hot wallets and to deposit with cover counterparties in accordance with our internal policies. Our policy from a security point of view is to hold the majority of borrowed customer crypto assets in cold wallets and to hold in hot wallets the amount of crypto assets we deem necessary in light of expected settlement transactions with cover counterparties and external transfer requests. The following table shows the amounts held by crypto asset, as well as in hot wallets and cold wallets as of March 31, 2022, September 30, 2022, March 31, 2023, September 30, 2023, March 31, 2024 and September 30, 2024. Customer crypto assets held by us in cold wallets are recorded as safeguard assets and are not included in crypto assets held (current assets).

|                                           |     |                     |     As of 
 March 31, 
      2022 |     |   |         As of 
 September 30, 
          2022 |     |   |     As of 
 March 31, 
      2023 |     |   |         As of 
 September 30, 
          2023 |     |   |     As of 
 March 31, 
      2024 |     |   |         As of 
 September 30, 
          2024 |
|:------------------------------------------|:----|:--------------------|----------:|:----|:--|--------------:|:----|:--|----------:|:----|:--|--------------:|:----|:--|----------:|:----|:--|--------------:|
|                                           |     | -in billions of yen |           |     |   |               |     |   |           |     |   |               |     |   |           |     |   |               |
| BTC                                       |     | ¥                   |      19.8 |     | ¥ |