Company: CNCKW
Filing Date: 2025-08-29
Form Type: POS AM
Source: 0001213900-25-082038
Chunk: 104

Company: Coincheck Group N.V.
Filing Date: 2025-08-29
Form: POS AM
Chunk 104
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 cryptocurrencies being traded. Total Marketplace platform trading volume with customers for the three months ended June30, 2025 and 2024 was ¥61.5billion and ¥73.0billion, respectively. Commission received Our commission received consist primarily of remittance fees, deposit and withdrawal and transfer fees, commissions received from the issuer and subscribing customers in the IEO business, commissions that arise from transactions on the Coincheck NFT Marketplace, commissions that arise from transactions on our Exchange platform, and other commissions. Expenses Expenses consist of cost of sales and selling, general, and administrative expenses. Cost of sales We purchase crypto assets from customers or cover counterparties to complete customer Marketplace platform orders. Our cost of sales is, mainly, the aggregate price of the crypto assets at the time we purchase them. Selling, general, and administrative expenses Personnel expenses and advertising and promotion expenses are the largest components of our selling, general, and administrative expenses. Our personnel expenses are expected to scale if and as our revenues grow. In addition, systems -relatedexpenses are correlated with user numbers and trading volumes and are incurred in order to support our mobile and desktop web applications. With respect to advertising and promotional expenses, beginning in May 2024 we resumed television advertising. For the three months ended June30, 2025 and 2024, our advertising and promotion expenses were ¥430million and ¥477million, respectively. For the years ended March 31, 2025, 2024 and 2023, our advertising and promotion expenses were ¥1,874 million, ¥661 million and ¥1,294 million, respectively. Our other costs are relatively fixed in nature, which we believe allows us to target significant operating leverage through growth of our customer base. We believe that our expense structure enables us to be profitable, or minimize loss, even in periods with low trading volume.

63 Selling, general, and administrative expenses consist primarily of the following: • Personnel expenses. Personnel expenses consist of salaries and bonuses of our employees and share -basedcompensation for restricted share units. Share -basedcompensation were granted to managing directors and officers, board members and other qualified employees and non -employeeconsultants. The total share -basedcompensation expense was ¥298million and ¥nil million, for the three months ended June30, 2025 and 2024, respectively. • Advertising and promotion expenses. Advertising and promotion expenses primarily include expenses incurred for the advertising of our products in various media, including television, press, and internet (including social media