Company: CNCKW
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086398
Chunk: 98

Company: Coincheck Group N.V.
Filing Date: 2025-09-10
Form: 424B3
Chunk 98
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 |     |   |             — |     |   |            — |     |   |         — |     |   |       61 |
| SHIB   |     |                            |    5,062 |     |   |         2,365 |     |   |        5,795 |     |   |     3,064 |     |   |      947 |
| Others |     | ¥                          |   14,053 |     | ¥ |         6,369 |     | ¥ |       21,585 |     | ¥ |    14,676 |     | ¥ |    5,595 |
| Total  |     | ¥                          |   72,993 |     | ¥ |        55,129 |     | ¥ |      117,438 |     | ¥ |    91,967 |     | ¥ |   61,531 |

58 IEO Revenue We launched our IEO platform, Coincheck IEO, in July 2021, which is the first of its kind in Japan, and on which the first approved IEO in Japan was launched later that year. 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. Commissions received from the issuer and customers, which are based on the fair value of the tokens at the time received, were ¥397 million, ¥nil million and ¥256 million, for the years ended March 31, 2025, 2024 and 2023, respectively. IEO -relatedcommissions are recorded by us as commissions received. 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, as described in more detail below. Price and volatility of crypto assets For the three months ended June30, 2025 and 2024, 99.3% and 99.1%, respectively, of our total revenue consisted of transaction revenue generated from trades with customers and cover counterparties on our Marketplace platform business. For both the years ended March 31, 2025 and 2024, 99.6% of our total revenue consisted of transaction revenue generated from trades relating to our Marketplace platform business. As a result, our total revenue is highly correlated with the price and volatility of crypto assets. As earlier mentioned, there