Company: CNCKW
Filing Date: 2025-03-27
Form Type: F-1/A
Source: 0001013762-25-003470
Chunk: 124

Company: Coincheck Group N.V.
Filing Date: 2025-03-27
Form: F-1/A
Chunk 124
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 |     |      0.2 |     |           0.1 |     |          0.4 |
| BRIL  |     |                        0.0 |     |       0.0 |     |      1.7 |     |           0.4 |     |          0.5 |
| BC    |     |                        0.0 |     |       0.0 |     |      0.0 |     |           0.0 |     |          1.1 |
| Total |     |                       56.6 |     |     108.1 |     |     71.4 |     |          54.0 |     |        113.9 |

IEO Revenue We launched our IEO platform, Coincheck IEO, in July 2021, which is the first of its kind in Japan, and completed our first IEO under this platform shortly thereafter. We collaborated with Hashpalette Inc. to complete the first IEO for Palette Token, an ERC -20utility token that can be used on Palette, which is a blockchain platform for manga, anime, music, and other forms of multimedia content. We charge fees to companies seeking to list on our exchange using our IEO platform, including a certain proportion of the tokens to be sold on the exchange. As a result, commissions received from the issuer and customers, including the fair value of the tokens received as commission, were ¥273 million and ¥256 million, respectively, and these amounts were recorded in commissions received for the years ended March 31, 2022 and 2023, respectively. In the year ended March 31, 2024, we did not receive any commissions. In the nine months ended December 31, 2024, we recorded ¥397million of commissions attributable to IEOs. Factors Affecting Our Results of Operations The success and historical growth of our business as well as our financial condition and operating results have been and will continue to be affected by a number of factors described in more detail below. Price and volatility of crypto assets In the year ended March 31, 2024, and in the nine months ended December 31, 2024, 99.6% and 99.5%, respectively, of our total revenue consisted of transaction revenue generated from trades of customers and cover counterparties on our Marketplace platform business. As a result, our total revenue is highly correlated with the price and volatility