Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 119

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 4
Chunk 119
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 critical in 
acquiring customers who are first-time crypto users and to attract larger, including institutional, investors. Following 
our acquisition by Monex in April 2018 we strengthened, and have since that time continued to strengthen, our 
cybersecurity and governance, continuously investing in the stability of our platforms and their underlying systems. 
We have also played a constructive role in the JVCEA, which was granted self-regulatory status by the JFSA in 
October 2018 to set standardized operating procedures for cryptocurrency exchanges in Japan. Coincheck’s 
Chairman, Representative Director & Executive Director currently serves as a director of the JVCEA. We believe 
we are considered by many to be the company of choice to begin investing in crypto assets safely.
We have a robust and historically profitable financial model.
We believe our historical growth and profitability, combined with re-investment in our platforms and 
brand, position us well to pursue further opportunities, and we have invested, and expect to continue to invest, in 
new products and services to enable us to grow during various market cycles. We historically have had a strong 
financial profile, as reflected in our high revenue growth and positive net profit throughout various cycles in the 
market through the year ended March 31, 2022. When declines in the prices of crypto assets and trading volume led 
to a sharp decline in our total revenue in the year ended March 31, 2023, after taking measures to reduce our 
variable expenses in light of those market conditions we recorded a net loss of ¥559 million for the year ended 
March 31, 2023, a net profit of ¥1,967 million for the year ended March 31, 2024 and a net loss of ¥14,350 million 
for the year ended March 31, 2025; however, it should be noted that our net loss for the year ended March 31, 2025 
included large cash and non-cash expenses of ¥18,321 million (¥4,607 million cash expense and ¥13,714 million 
non-cash expense) related to the consummation of the Business Combination and the listing of our Ordinary Shares 
on Nasdaq.  Accordingly, we had an Adjusted EBITDA loss of ¥360 million for the year ended March 31, 2023, 
Adjusted EBITDA of ¥3,773 million for the year ended March 31, 2024 and Adjusted EBITDA of ¥ 5