Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 57

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 57
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 business, market or competitors. Securities and industry analysts may

not publish research on us. If no securities or industry analysts commence coverage of our company, our share price

and trading volume would likely be negatively impacted. If any of the analysts who may cover our company change

their recommendation regarding our Ordinary Shares adversely, or provide more favorable relative

recommendations about our competitors, the price of our Ordinary Shares would likely decline. If any analyst who

may cover our company were to cease coverage of our company or fail to regularly publish reports on us, we could

lose visibility in the financial markets, which in turn could cause our share price or trading volume to decline.

We may be subject to securities litigation, which is expensive and could divert management attention.

Our share price may be volatile and, in the past, companies that have experienced volatility in the market

price of their stock have been subject to securities litigation, including class action litigation. We may be the target

of this type of litigation in the future. Litigation of this type could result in substantial costs and diversion of

management’s attention and resources, which could have an adverse effect on our business, financial condition, and

results of operations. Any adverse determination in litigation could subject us to significant liabilities.

There can be no assurance that we will be able to comply with the continued listing standards of Nasdaq or any

other exchange.

Our Ordinary Shares are listed on Nasdaq under the symbol “ CNCK”. If Nasdaq delists our Ordinary

Shares from trading on its exchange for failure to meet the listing standards, we and holders of our Ordinary Shares

could face significant adverse consequences including:

• a limited availability of market quotations for our Ordinary Shares;

• reduced liquidity for our Ordinary Shares;

• a determination that our Ordinary Shares are a “penny stock” which will require brokers trading in our

Ordinary Shares to adhere to more stringent rules, possibly resulting in a reduced level of trading

activity in the secondary trading market for shares of our Ordinary Shares;

• a limited amount of analyst coverage; and

• a decreased ability to issue additional securities or obtain additional financing in the future.

Risks Relating to Tax Matters

The imposition of additional or higher taxes (including tariffs), or other retaliatory measures in respect of

disputed national or international tax policy, arrangements or agreements, whether resulting from a change of

tax laws or a different interpretation or application of tax laws or by unilateral action of a government in our

outside of the jurisdictions of our operations, could affect demand for