Coincheck Group N.v. · NASDAQ:CNCK

Coincheck — SPAC Merger (August 2024)

17 slides from Coincheck's SPAC merger presentation, Aug 5, 2024

  1. Slide 1: Investor Presentation, August 2024

    1 ç©çÜã  ɸɶɸɺ :›ö‚  d›­Âȼȩö  =›‚•›ØÜ­¯Õ  (ÈØçÁ

  2. Slide 2: Disclaimer and Additional Information

    2 ¯Ü¼‚¯Á›Ø ••¯ã¯È‚¼  0¨ÈØÁ‚ã¯È  ‚•  w­›Ø›  ãÈ  (¯Â•  0ã 0  È›ã¯È  ô¯ã­  ã­›  Žçܯ›ÜÜ  ÈÁŽ¯Â‚ã¯È  ‚©Ø››Á›Âãʍ  ‚Ü  ‚Á›Â•›•ʍ  ‚ÁÈ©  ȯ­›¹ʍ  0ʒ  ʞʪȯ­›¹ʫʟʍ  ȯ­›¹  *ØÈçÕ  ʒtʒ  ʞʪ*ʫʟʍ  d­ç•›Ø  د•©›  ‚կゼ  V‚Øã›ØÜ  0tʍ  0ʒ  ʞʪd­ç•›Ø

  3. Slide 3: Coincheck, Inc. Overview and Process Update

    3 ȯ­›¹ʍ  0ʒ  Ió›Øó¯›ô Mission : to increase the accessibility of new forms of investing and commerce for our highly - engaged customer base • =›‚•¯Â©  9‚Ղ›ܛ  ØöÕãÈ  ›õ­‚©›  ÈÁÕ‚Âö • I՛؂ã›Ü  È›  Ȩ  ã­›  ¼‚Ø©›Üã  •ÈÁ›Ü㯐  Áç¼ã¯ ʣ  ØöÕãȐçØ؛ö  Á‚ع›ãÕ¼‚›Ü  ‚•  

  4. Slide 4: One of the Largest Crypto Platforms in Japan

    4 I›  Ȩ  ã­›  =‚Ø©›Üã  ØöÕãÈ  V¼‚ã¨ÈØÁÜ  ¯Â  9‚Õ‚Â d­›  ȯ­›¹  IÕÕÈØãç¯ãö Providing Japanese Customers & Institutions with Direct Access to the Global Crypto Economy Source: Company filings Note: Figures in JPY converted to USD based on exchange rate of 0.006607 as of 3/31/2024; 1 A

  5. Slide 5: Well-Positioned in a Large, Rapidly Growing Market

    5 w›¼¼ ʣ VÈܯã¯È›•  ¯Â  ‚  =‚Ø©›  ‚•  Y‚Õ¯•¼ö  *ØÈô¯Â©  B‚ع›ã Üã‚Ž¼¯Ü­›•  =›‚•›Ø  I՛؂ã¯Â©  ‚ã  ]‚¼›  ¯Â  9‚Õ‚ÂʭÜ  .¯©­¼ö  Y›©ç¼‚㛕  B‚ع›ã .¯©­¼ö ʣ ©‚©›•  çÜãÈÁ›Ø  ‚Ü› dØ‚¹  Y›ÈØ•  Ȩ  ÈÂã¯Â盕  0ÂÂÈó‚ã¯È  ˬ  =›‚•›ØÜ­¯Õ ]¯©Â¯¨¯‚Âã  *ØÈôã­  VÈã›Â㯂¼  ã­ØÈç

  6. Slide 6: Large Attractive Market in Early Stages of Adoption

    6 =‚Ø©›  ‚•  ããØ‚ã¯ó›  B‚ع›ã  ¯Â  ‚ؼö  ]ã‚©›Ü  Ȩ  •ÈÕã¯È x 9‚Õ‚Â  ¯Ü  ã­›  4 th largest global economy ʞ˚ɺʒɸã  *Vʟ ɻ ʍ  ô¯ã­  ‚  ©ØÈô¯Â©  ‚•¯ÂØ›‚ܯ©¼ö  ÜÈÕ­¯Ü㯐‚㛕  ç¯ó›ØÜ›  Ȩ ¯Âó›ÜãÈØÜ  Ü››¹¯Â©  ô›‚¼ã­  ©›Â›Ø‚ã¯ÈÂÈÕÕÈØãçÂ¯ã¯›Ü x I¼ö  ɽʒɽ˩ ɸ  Ȩ  9‚Ղ›

  7. Slide 7: Crypto Regulation at a Glance

    Stablecoins (used for payments) Travel rule Licensing / Registration Regulatory framework Jurisdiction 7 0•¯‚ 0ゼö =‚ãó¯‚ =çõ›ÁŽÈçØ© B‚¼ã‚ B‚çدã¯çÜ CÈØô‚ö Vȼ‚• VÈØãç©‚¼ X‚ã‚Ø ]¯Â©‚ÕÈØ› ]¼È󂹯‚ ]Èçã­  ¨Ø¯‚ ]ô¯ãú›Ø¼‚• d‚¯ô‚ dçع›ö h¯㛕  Ø‚Ž  Á¯Ø‚ã›Ü Stablecoins (used for payments) Tra

  8. Slide 8: Leader in Japan's Highly Regulated Market

    8 =›‚•›Ø  ¯Â  9‚Õ‚ÂʭÜ  .¯©­¼ö  Y›©ç¼‚㛕  B‚ع›ã ȯ­›¹  ¯Ü  ‚  ܐ‚ؐ›  ‚ÜÜ›ãʍ  È՛؂ã¯Â©  ‚ã  ܐ‚¼› =›‚•¯Â©  9‚Ղ›ܛ  ØöÕãÈ  ‚ÕÕ ]­‚Ø›  Ȩ  9‚Õ‚Â  Á‚ع›ã  ʞŽö  ‚ÈçÂãÜʟ ɷ Strong market share driven by trusted and recognized brand, robust relative product offering, and stro

  9. Slide 9: Highly Engaged Customer Base

    9 19% 34% 27% 14% 6% .¯©­¼ö ʣ ©‚©›•  çÜãÈÁ›Ø  ‚Ü› Coincheck’s platform strongly aligns with its user base, offering products and services that cater towards a young demographic Note: Figures are approximate based on rounding; 1 As of Mar - 2024 ˛ ɸɶÜ  ˬ  ç•›Ø  ˛ ɹɶÜ  ˛ ɺɶÜ  ˛ ɻɶÜ  ˛ ɼɶÜ

  10. Slide 10: Our Revenue Model

    10 IçØ  Y›ó›Âç›  BÈ•›¼ Source: Company filings Note: Figures in JPY converted to USD based on exchange rate of 0.006607 as of 3/31/2024 Transaction Revenue 92.5% of Total Revenue Transaction Volume (Marketplace) Spread 3.42% Average Spread $1.5B Total FY24 Volume X Total Revenue Non - Transaction

  11. Slide 11: Robust Financial Model with High Incremental Profitability

    11 ˚ɿɺʒɿ ʣ ˚ɸʒɺ FY23 FY24 ˚ɸɹʒɹ FY21 FY22 FY23 FY24 FY22 ˚ɸʒɿ ˚ɹʒɾ ˚ɷʒɶ ˚ɷʒɻ FY21 FY22 FY23 0d  ʞ˚Bʟ ɹ FY24 ˚ɹʍɺɼɻʒɷ ˚ɷʍɷɼɿʒɶ ˚ɷʍɺɾɶʒɺ YÈŽçÜã  (¯Â‚¯‚¼  BÈ•›¼  ô¯ã­  .¯©­  0؛Á›Âゼ  VØȨ¯ã‚Ž¯¼¯ãö dØ‚¹  Ø›ÈØ•  Ȩ  ÜãØÈ©  ‚ÈçÂã  ©ØÈôã­  ‚•  ‚Ž¯¼¯ãö  ãÈ  Á‚‚©›  ›õÕ›ÂÜ›Ü

  12. Slide 12: Marketing costs and cost per acquisition

    12 1 0 0 0 0 1 11 10 13 4 1 1 1 1 1 1 7 5 6 9 8 17 20 8 8 45 7 7 7 7 3 3 2 3 2 4 6 2 1 21 18 24 23 20 31 31 64 63 23 110 127 81 46 57 55 39 35 27 25 21 ɶ ɸɶ ɺɶ ɼɶ ɾɶ ɷɶɶ ɷɸɶ ˚ ɷɺɶ ɶ ɻ ɷɶ ɷɻ ɸɶ ɸɻ ɹɶ ɹɻ ɺɶ ɺɻ ˚ÁÁ ɻɶ ÕØʒ ʣ 9çÂʒ  9ç¼ʒ ʣ ]›Õʒ  Iãʒ ʣ ›ʒ  9‚Âʒ ʣ B‚Øʒ  ÕØʒ ʣ 9çÂʒ  9ç¼ʒ ʣ ]›Õʒ  I

  13. Slide 13: Our Growth Strategy

    13 IçØ  *ØÈôã­  ]ã؂㛩ö Solidify position as leading Japanese crypto exchange and deepen market penetration Advance the growth of the crypto ecosystem in both Japan and globally with growth in non - transaction - based offerings (e.g., IEOs, subscriptions) Introduce new digital asset - based prod

  14. Slide 14: Business Update

    14 çܯ›ÜÜ  hÕ•‚ã› ȯ­›¹  Üã‚Ø㛕  ‚¯Ø¯Â©  dt ÈÁÁ›Ø¯‚¼Ü  È  B‚ö  ɿʍ  ɸɶɸɺ  ãÈ ‚×ç¯Ø›  ›ô  çÜãÈÁ›ØÜ  ‚•  ¨ÈÜã›Ø ¯ãÜ  ŽØ‚•  ‚ô‚؛›ÜÜʒ ~2.0M accounts (+82K QoQ) =›‚•¯Â©  Á‚ع›ã  Ü­‚Ø›  ô¯ã­  ɸɶ˩ ɷ  Ü­‚Ø›  Ȩ  ó›Ø¯¨¯›•  ‚ÈçÂãÜ CçÁŽ›Ø  Ȩ  ãȹ›ÂÜ  ÜçÕÕÈØ㛕 

  15. Slide 15: Appendix

    15 Õ՛•¯õ

  16. Slide 16: EBITDA Reconciliation

    16 0d  Y›È¯¼¯‚ã¯È FY24 FY23 FY22 ($M) $13.0 ($3.7) $64.7 C›ã  VØȨ¯ã  ʞ=ÈÜÜʟ 5.8 (1.9) 27.2 ʞ˟ʟ  0ÈÁ›  d‚õ  õÕ›ÂÜ›Ü  ʞ›Â›¨¯ãÜʟ 18.8 (5.6) 92.0 VØȨ¯ã  ʞ=ÈÜÜʟ  Ž›¨ÈØ›  0ÈÁ›  d‚õ›Ü 0.0 0.0 0.0 ʞ˟ʟ  0Âã›Ø›Üã  õÕ›ÂÜ› 4.5 3.2 3.0 ʞ˟ʟ  ›ÕØ›¯‚ã¯È  ˬ  ÁÈØã¯ú‚ã¯È $23.3 ($2

  17. Slide 17: Board of Directors

    Yo Nakagawa Director Senior Executive Director of Monex Group, Inc. and Expert Director of Coincheck, Inc. Takashi Oyagi Director Founding member of Monex, Executive Officer and Chief Financial Officer of Monex Group, Inc. Jason Sandberg Incoming Chief Financial Officer Managing Director at Thunder

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