Company: CNCKW
Filing Date: 2025-04-10
Form Type: 424B3
Source: 0001213900-25-030417
Chunk: 275

Company: Coincheck Group N.V.
Filing Date: 2025-04-10
Form: 424B3
Chunk 275
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 at the initial recognition and subsequently measured at the lower of cost or net realizable value. The net realizable value is estimated based on expected selling price less reasonably predictable costs of completion and disposal with the consideration of NFT market trend etc. In addition, with respect to the cost of sales, NFTs are calculated based on specific identification of cost. Crypto assets held (non -currentassets) consist of cryptocurrencies that are not held for facilitating customer transactions and NFTs held for purposes other than sale. Cryptocurrencies held for own use are mainly held for being exempted from paying certain commission. NFTs are intended for the Company’s own use. These crypto assets held (non -currentassets) are recognized as intangible assets with indefinite useful lives and are initially measured at acquisition cost. The measurement subsequent to the initial recognition uses the cost model, and crypto assets held (non -currentassets) are not amortized and are reported at the acquisition cost less accumulated impairment losses. Crypto assets held (non -currentassets) are subject to impairment tests at the same time each year and when there are indications of impairment. The Company considers that there is an indication of impairment when the value of assets such as market price is significantly decreasing, or when significant changes with an adverse effect have taken place during the period in the technological or market environment of each crypto asset. The impairment test is performed by comparing their carrying amount with their recoverable amount for each acquisition price for cryptocurrencies and individual NFTs. The recoverable amount of crypto assets held (non -currentassets) is estimated as fair value less cost of disposal. The fair value less cost of disposal is measured based on the quoted price of crypto assets less transaction fees. In addition, with respect to the cost of selling, cryptocurrencies are calculated based on the first -in, first -outbasis and NFTs are calculated based on specific identification of cost. The Company recognizes cryptocurrencies received through airdrops or forks if the cryptocurrencies are expected to generate probable future benefit and if the Company is able to support the trading, custody, or withdrawal of these assets. (b)Crypto asset borrowings Crypto asset borrowings (Note 20) are recorded as the contractual repayment obligation with respect to crypto assets borrowed/deposited from the Company’s customers under the Coincheck Lending program. Crypto asset borrowings are initially measured at the fair value of the subject crypto assets as the Company incurs an obligation to return the same type and the same amount of crypto assets borrowed/deposited from customers.