Company: CNCKW
Filing Date: 2025-03-27
Form Type: F-1/A
Source: 0001013762-25-003470
Chunk: 301

Company: Coincheck Group N.V.
Filing Date: 2025-03-27
Form: F-1/A
Chunk 301
---
 which reduce Income tax expenses are presented as positive amounts. (*2)For the year ended March 31, 2023, other mainly consists of recognition of previously unrecognized deductible temporary differences.

F-38

COINCHECK, INC.
NOTES TO THE FINANCIAL STATEMENTS 20.Crypto asset borrowings The Company enters into borrowing agreements with customers under the Coincheck Lending program. The Company has control over crypto assets borrowed/deposited under the program. Therefore, the repayment obligation with respect to the crypto assets borrowed/deposited is recorded as “Crypto asset borrowings,” and the corresponding crypto assets received are recognized as inventories in the statements of financial position. Crypto asset borrowings are initially measured at the fair value of the crypto assets borrowed/deposited. Subsequent to initial recognition, changes in fair value of crypto asset borrowings are recognized in profit or loss in the corresponding period. See Note 25 “Fair value measurement.” The interest expenses related to crypto asset borrowings, paid in the same cryptocurrency, for the years ended March 31, 2022, March 31, 2023 and March 31, 2024 were 124 million yen, 49 million yen, and 35 million yen, respectively, which were included in “Transaction related costs” of “Selling, general and administrative expenses” in the statements of profit or loss and other comprehensive income. The interest expenses related to crypto asset borrowings for the years ended March 31, 2022, March 31, 2023 and March 31, 2024 are included as an adjustment to reconcile profit (loss) to “Cash flows from operating activities” in the statements of cash flows. 21.Other financial liabilities Other financial liabilities consist of the following:

|                                      |     |      |     | -Millions of yen |       |     |      |       |
|                                      |     |      |     |  As of March 31, |       |     |      |       |
|                                      |     | Note |     |             2023 |       |     | 2024 |       |
| Current portion:                     |     |      |     |                  |       |     |      |       |
| Accrued expenses                     |     |      |     |                ¥ |   879 |     |    ¥ |   646 |
| Lease liabilities                    |     |   18 |     |                  |   258 |     |      |   384 |
| Other