Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 56

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 56
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 a Foreign Private Issuer (FPI). This release is the first review of the FPI framework since 2008, and the

SEC is considering revisions that could significantly impact which foreign companies qualify for the more-relaxed

U. S. reporting requirements afforded to FPIs. The concept release outlines several potential approaches to revising

the FPI definition, including updating existing eligibility criteria, adding foreign trading volume requirements, and

incorporating an assessment of foreign regulation. If we lose our status as a foreign private issuer in the future, we

will no longer be exempt from the rules described above and, among other things, will be required to file periodic

reports and annual and quarterly financial statements as if we were a company incorporated in the United States. If

this were to happen, we would likely incur substantial costs in fulfilling these additional regulatory requirements and

members of our management would likely have to divert time and resources from other responsibilities to ensuring

these additional regulatory requirements are fulfilled. See “ Item 16. G: “ Corporate Governance - Implications of

Being a Foreign Private Issuer.”

Because we have no plans to pay cash dividends on Ordinary Shares for the foreseeable future, you may not

receive any return on investment unless you are able to sell your Ordinary Shares for a price greater than that

which you paid for them.

We plan to retain future earnings, if any, for future operations, expansion and debt repayment and have no

current plans to pay any cash dividends for the foreseeable future. Any decision to declare and pay dividends as a

public company in the future will be made at the discretion of our board of directors and will depend on, among

other things, our results of operations, financial condition, cash requirements, contractual restrictions, acquisition

plans and activities, and other factors that our board of directors may deem relevant. In addition, our ability to pay

dividends may be limited by covenants of outstanding indebtedness we or our subsidiaries incur. As a result, you

may not receive any return on your investment unless you sell our Ordinary Shares for a price greater than that

which you paid for them.

44

If securities or industry analysts do not publish or cease publishing research or reports about us, our business, or

our market, or if they change their recommendations regarding our securities adversely, the price and trading

volume of our securities could decline.

The trading market for our securities will be influenced by the research and reports that industry or

securities analysts may publish about us, our