Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 180

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 5
Chunk 180
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2023                2024                  2025
Reconciliation of Adjusted EBITDA:                                                                          
Net profit (loss) for the year or the period                ¥(559)              ¥1,967             ¥(14,350)
Add: Income tax expenses (benefits)                          (287)                 873                   991
Profit (loss) before income taxes                            (846)               2,840              (13,359)
Add: Interest expense                                            3                   6                    29
Add: Depreciation and amortization                             483                 679                   727
Add: Transaction expenses excluding listing expense            717                 248                 4,607
Add: Listing expense                                             —                   —                13,714
Adjusted EBITDA                                               ¥357              ¥3,773                ¥5,718
Liquidity and Capital Resources
We finance our operations primarily with our cash flows from operating activities. Our fundamental 
principles are to build and maintain a financial base for the purpose of maintaining soundness and efficiency of 
operations and achieving sustainable growth. According to these principles, we plan on conducting capital 
investment, profit distribution, and repayment of any loans based on our operating cash flows through the 
development and rendering of our crypto asset exchange services.
Cash and cash equivalents mainly consist of bank deposits. As of March 31, 2025, we had cash and cash 
equivalents of ¥8,584 million. As of March 31, 2025, we also had cash segregated as deposits of ¥51,655 million. In 
accordance with Japanese laws and regulations, 100% of the legal tender deposited by customers is protected by 
trust companies. Therefore, cash deposited by customers is accounted for under different accounts depending on 
whether it is protected by trust companies or not. Additionally, Coincheck entered into a line of credit with our 
affiliate, Monex Finance Corporation, with aggregate commitments as of March 31, 2024, and March 31, 2025 of 
¥6,000 million and ¥6,000 million, respectively. No amounts were outstanding under this arrangement as of March 
31, 2024 or March 31, 2025, after drawing down and subsequently repaying ¥6,000 million in June of 2024. 
Coincheck Parent entered into its own commitment line contract of ¥2,400 million as a debtor with Monex Finance 
Corporation in December 202