Coincheck Group N.v. · NASDAQ:CNCK
Coincheck — Investor Presentation (August 2025)
25 slides from Coincheck's investor presentation, Aug 29, 2025
Slide 1: Investor Presentation
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 1 Aug 2025 Investor Presentation
Slide 2: Disclaimer
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 2 Disclaimer No Offer or Solicitation This presentation is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in a
Slide 3: Overview of Coincheck Group
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 3 Oki Matsumoto Director & Exec. Chairman Gary Simanson Director, President & Chief Executive Officer Jason Sandberg Chief Financial Officer Overview of Coincheck Group Preeminent diversified crypto financial services holding company
Slide 4: Coincheck Group Growth Strategy
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 4 Coincheck Group Growth Strategy Building new crypto and Web3 services supporting the Coincheck crypto asset ecosystem both organically and through mergers and acquisitions Seeking to provide and explore additional on-ramp services b
Slide 5: Massive Crypto Market Tailwinds
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 5 Massive Crypto Market Tailwinds BTC price evolution over the past 10 years Source: CoinMarketCap Note: As of Aug 01, 2025 $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 Aug-15 Aug-17 Aug-19 Aug-21 Aug-23 Aug-25 +40,240% $113,2
Slide 6: Coincheck Group FY 2026 Q'1 Update
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 6 • Announced strategic business relationship with Mercoin, Inc., a subsidiary of Mercari, Inc., one of the biggest C2C marketplaces in Japan Performance Coincheck Group FY 2026 Q’1 Update Note: Figures in JPY converted to USD based o
Slide 7: Coincheck Group Results for FY 2025
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 7 Coincheck Group Results for FY 2025 Number of Verified Accounts 2.3M +16% vs. FY24 $5.9B +15% vs. FY24 J-GAAP Customer Assets1 $2.3B +44% vs. FY24 FY25 Marketplace Trading Volume ($M) FY24A FY25A % YoY Revenue $1,554 $2,659 71% Cost
Slide 8: Providing Japanese Customers & Institutions with Direct Access to the Global Crypto Economy
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 8 Providing Japanese Customers & Institutions with Direct Access to the Global Crypto Economy Coincheck, the Leading Japanese Crypto Platform • Wholly-owned subsidiary of Coincheck Group • Leading Japanese crypto exchange • Operates o
Slide 9: Coincheck at a Glance
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 9 Coincheck at a Glance Note: Figures in JPY converted to USD based on exchange rate of 144.17 JPY per 1.00 USD reported by the Federal Reserve Bank of New York as of 6/30/2025. Coincheck FY ended 3/31; 1 As of 7/30/2025; 2 As of 7/30
Slide 10: Broad Product Suite with Numerous Growth Avenues
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 10 Broad Product Suite with Numerous Growth Avenues Coincheck’s Leadership Position in Japan Robust Regulatory and Compliance Infrastructure Well-Positioned in a Large and Rapidly Growing Market Track Record of Sustained Growth and Di
Slide 11: Large and Attractive Market in Early Stages of Adoption
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 11 Large and Attractive Market in Early Stages of Adoption Crypto Adoption by Market Snapshot5 Massive Untapped Market Opportunity ✓ Japan is the 4th largest global economy ($4T GDP)6, with a growing and increasingly sophisticated uni
Slide 12: Japan Stands Out as a Market for Crypto Activity
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 12 Jurisdiction Regulatory framework Licensing / Registration Travel rule Stablecoins (used for payments) Japan United States Europe1 Brazil Hong Kong India Singapore Taiwan United Arab Emirates Japan Stands Out as a Market for Crypto
Slide 13: Highly Engaged Customer Base
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 13 18% 33%27% 15% 7% Highly Engaged Customer Base Coincheck’s platform strongly aligns with its user base, offering products and services that cater towards a young demographic Users by Age1 Note: Figures are approximate based on roun
Slide 14: Leader in Japan's Highly Regulated Market
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 14 Leader in Japan’s Highly Regulated Market Coincheck is a scarce asset, operating at scale Share of Japan market (by accounts)1 Strong market share driven by trusted and recognized brand, robust product offering, and strong customer
Slide 15: Existing and New Verticals
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 15 Existing verticals New verticals Exchange / Marketplace IEOs NFTs Staking Asset Management Financial Services Adjacencies Core offering that enables customers to purchase, sell and trade 351 crypto assets Initial Exchange Offerings
Slide 16: Recent Product Highlights
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 16 Recent Product Highlights Strategic partnership with Mercoin, Inc. announced in Aug 2025; expected launch in H1 2026. A frictionless UX enables mercoin users to trade additional crypto assets and create a Coincheck account without
Slide 17: Crypto-as-a-Service: Mercoin x Coincheck
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 17 Coincheck CaaS empowers platforms to offer regulated, in-app crypto trading – seamlessly and securely – without building their own exchange. Coincheck handles provisioning, custody, and execution, so partners can focus entirely on
Slide 18: Robust KYC / AML and Compliance Infrastructure in Place
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 18 Robust KYC / AML and Compliance Infrastructure in Place KYC Process Listing Approval Process Accounting & Listing Department conduct initial evaluation1 Legal & Compliance conduct additional review2 Accounting & Listing Department
Slide 19: Robust Financial Model with High Incremental Profitability
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 19 Robust Financial Model with High Incremental Profitability Coincheck Inc. has a track record of strong account growth and ability to manage expenses to drive profitability Revenue ($M)1 and YoY% growth Note: Figures in JPY converte
Slide 20: Accelerating Staking Capabilities and Scale
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 20 Accelerating Staking Capabilities and Scale Acquisition enhances Coincheck Staking product and offers staking platform services to other cryptocurrency marketplace providers ✓ Blockchain infrastructure and staking service provider
Slide 21: Appendix
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 21 Appendix
Slide 22: Board of Directors and Key Management Team
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 22 Allerd Derk Stikker Non-Executive Director Advisor of BXR Group and is a director of a number of portfolio companies of BXR Group David Burg Non-Executive Director Global Group Head, Cyber and Digital Trust at Kroll, LLC Toshihiko
Slide 23: Adjusted EBITDA Reconciliation
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 23 Adjusted EBITDA Reconciliation ($M) FY23 FY24 FY25 Q’1 25 Q’1 26 Net Profit (Loss) ($3.9) $13.6 ($99.5) $3.0 ($9.5) (+) Income Tax Expenses (Benefits) (1.9) 6.1 6.9 1.45 0.9 Profit (Loss) before Income Taxes (5.8) 19.7 (92.6) 4.5 (
Slide 24: Controlled Expenses can Adjust Based on Market Conditions
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 24 4.1 2.6 1.5 1.1 1.0 1.0 0.9 1.8 3.6 1.7 3.8 4.2 3.0 8 4 3 4 3 5 9 9 7 6 9 6 4 48.0 59.7 57.6 41.2 36.8 28.1 25.8 21.9 45.5 43.2 38.8 45.3 49.8 0.0 20.0 40.0 60.0 80.0 3 7 11 15 1st - 3rd month 4th - 6th month 7th - 9th month 10th m
Slide 25: Monthly Key Performance Metrics
40-216-205 14-219-162 247-150-34 2-189-180 158-158-158 72-161-250 25 Number of Verified Accounts (M) Monthly Key Performance Metrics Note: Figures in JPY converted to USD based on exchange rate of 144.17 JPY per 1.00 USD reported by the Federal Reserve Bank of New York as of 6/30/2025; Coincheck FY
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