Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 168

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 5
Chunk 168
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million and ¥661 million for the years ended March 31, 2025 and 2024, respectively, and the number of new 
accounts opened totaled 309,951 and 178,949, respectively. During our fiscal year ended March 31, 2024, in light of 
the adverse market environment during that year, we reduced our advertising and promotion expenses, as compared 
to our ¥1,294 million expense for the fiscal year ended March 31, 2023. Beginning in May 2024, we resumed the 
airing of television advertisements, which caused our advertising costs to increase in the year ended March 31, 2025. 
The components of our advertising and promotional expenses are web advertising, affiliate marketing programs, 
television advertising, and marketing campaign expenses, which accounted for (i) 18.9%, 51.7%, 18.4% and 10.3%, 
respectively, of our advertising and promotional expenses for the fiscal year ended March 31, 2025, (ii) 12.8%, 
69.7%, 0.0%, and 16.5%, respectively, for the fiscal year ended March 31, 2024, and (iii) 16.0%, 73.3%, 0.2% and 
9.2%, respectively, for the fiscal year ended March 31, 2023.
We monitor our total marketing costs for customer acquisition (MCC), cost per acquisition (CPA) and 
customer payback to assess the effectiveness of our marketing. Relevant measures for recent periods are summarized 
below:
Revenue and Total MCC (Marketplace platform)
____________
(1) The table above provides our total MCC, CPA, and customer payback for the periods from April 2022 to March 2025. 
The left bar for each quarter details our total marketing costs, whereas the right bar for each quarter details our customer 
payback amount for 24 months, including the month in which each customer completed the KYC process (and if 24 
months have not passed, from the month in which each customer completed the KYC process to the end of March 2025), 
for the cohort of customers that were acquired within the quarter. The line above each set of bars provides our CPA for 
each given quarter. This number is derived by taking the MCC in a given period and dividing it by the total incremental 
customers that completed our KYC process in