Company: CNCKW
Filing Date: 2025-03-27
Form Type: F-1/A
Source: 0001013762-25-003470
Chunk: 127

Company: Coincheck Group N.V.
Filing Date: 2025-03-27
Form: F-1/A
Chunk 127
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 believe that we will be able to maintain our position as a trusted brand in Japan and continue to enhance our customer -valueproposition and grow our scale in order to offset the effects of any future fee pressure, if we are unable to do so or if fee pressure emerges more rapidly than we anticipate, our operating results may be adversely affected in the future. 77 Marketing Our primary means of marketing is digital marketing, which allows us to respond flexibly to the impact of changes in the market price of crypto assets. We use television advertisements only to the extent investments can be collected within a reasonable period of time based on our analysis using estimated conversion ratio and other factors. Similarly in our marketing campaigns, we estimate the return of investment per campaign and make investments to the extent investments are estimated to be recoverable. Our advertising and promotion expenses are directed towards customer acquisition and totaled ¥415 million and ¥1,265 million, for the nine months ended December 31, 2023, and the nine months ended December31, 2024, respectively, while the number of new accounts opened with us during these periods totaled, 178,949 and 216,467, respectively. In light of the adverse market environment, we reduced our advertising and promotion expenses during the fiscal year ended March 31, 2024. From May 2024, we have resumed the airing of television advertisements and as such, anticipate increased advertising costs in the year ending March 31, 2025. Within the advertisement and promotional expenses, web advertisement, affiliated programs, television advertising, and campaign expenses, respectively, accounted for 37.4%, 38.6%, 23.4% and 0.5% for the fiscal year ended March 31, 2022, 16.0%, 73.3%, 0.2% and 9.2% for the fiscal year ended March 31, 2023, 12.8%, 69.7%, 0.0%, and 16.5% for the nine months ended December31, 2023 and 17.8%, 45.8%, 24.2% and 11.3% for the nine months ended December31, 2024. 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)