Company: CNCKW
Filing Date: 2025-04-10
Form Type: 424B3
Source: 0001213900-25-030417
Chunk: 128

Company: Coincheck Group N.V.
Filing Date: 2025-04-10
Form: 424B3
Chunk 128
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, and administrative expenses. Cost of sales Our cost of sales mainly consists of crypto assets once acquired from users and cover counterparties on the Marketplace platform or Exchange platform. Previously, the cost of cryptocurrencies sold was offset with the selling price of cryptocurrencies on our Marketplace platform. Our cost of sales has been changed to present cryptocurrencies delivered to the customers as cost of sales since the fiscal year ended March 31, 2023 and reflected retrospectively in all previous periods presented. Selling, general, and administrative expenses Personnel expenses and advertising and promotion expenses are our biggest cost drivers. Our personnel expenses are expected to scale 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. 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. For the three months ended December 31, 2023 and 2024, our advertising and promotion expenses were ¥126million and ¥541million, respectively. For the nine months ended December31, 2023 and 2024, our advertising and promotion expenses were ¥415million and ¥1,265million, respectively. Our other cost items are relatively fixed in nature, which we believe allow us to target significant operating leverage. We also believe we have been able to create an expense system capable of securing profits even in periods with low trading volume. Selling, general, and administrative expenses consist primarily of the following: • Personnel expenses.Personnel expenses consist of the salaries, bonuses, and incentives of our employees. • Advertising and promotion expenses.Advertising and promotion expenses primarily include expenses incurred for the advertising of our products on various media, including television, press, and internet (including social media and online video -sharingplatforms). • Professional fees.Professional fees consist of advisory fees in relation to the listing of our Ordinary Shares. • Communication expenses.Communication expenses include cloud service expenses such as Amazon Web Services. • Subcontract expenses.Subcontract expenses include outsourcing costs. Selling, general, and administrative expenses also include depreciation and amortization, business management service fees, transaction related costs, subcontract labor costs, tax expenses, and other expenses. Other Income and Expenses Other income and expenses consist of other income and other expenses. 81

Other income Other income consists primarily of gain on sale of business and gain on sale of crypto assets held for the year ended March 31, 2024, and miscellaneous income for