Company Also Announces Business Partnership with KDDI Corporation, with KDDI to Become a 14.9% Owner of Coincheck Group for Aggregate Cash Consideration of $65 Million

AMSTERDAM: Coincheck Group N.V. (NASDAQ: CNCK) (“Coincheck Group” or the “Company”), a Dutch public limited liability company that provides digital asset trade execution, custody, staking and asset management services, today reported financial results for the fourth quarter of the fiscal year ended March 31, 2026 (“fiscal 2026”). References to “fiscal 2025” mean the fiscal year ended March 31, 2025.

Financial Highlights:1

Certain Year-Over-Year Highlights

• Total revenue for the fourth quarter of fiscal 2026 increased 4%, to ¥119.7 billion ($752 million) from ¥114.6 billion ($720 million) in the fourth quarter of fiscal 2025. For the fiscal 2026 full year, total revenue increased 25%, to ¥480.2 billion ($3,019 million), from ¥383.3 billion ($2,410 million) in the fiscal 2025 full year. Both increases were driven mainly by increases in transaction revenue - institutional and revenue from cover counterparty transactions.
• Adjusted Revenue2 for the fourth quarter of fiscal 2026 decreased 18%, to ¥2,907 million ($18 million) from ¥3,545 million ($22 million) in the fourth quarter of fiscal 2025. The decrease was driven primarily by a decline in Marketplace Trading Volume, partially offset by an increase in staking revenue of ¥622 million and investment management fee revenue of ¥139 million. For the fiscal 2026 full year, Adjusted Revenue decreased 3%, to ¥13,071 million ($82 million) from ¥13,478 million ($85 million) in the fiscal 2025 full year, driven primarily by a decline Marketplace Trading Volume, partially offset by an increase in staking revenue of ¥2,574 million ($16 million) and investment management fee revenue of ¥139 million ($0.9 million).
• Verified Accounts3 increased 10%, to 2,527,772 as of March 31, 2026 from 2,291,103 as of March 31, 2025.
• Customer Assets4 decreased 15%, to ¥728.1 billion ($4,577 million) as of March 31, 2026 from ¥859.2 billion ($5,401 million) as of March 31, 2025. Even though the quantity of digital tokens held by customers remained relatively stable during the fiscal 2026 full year, Customer Assets decreased due primarily to the decline in the market price of certain crypto assets, including Bitcoin and XRP.
• Assets Under Management (AUM) were ¥128.8 billion ($810 million) as of March 31, 20265.
• Marketplace Trading Volume6 decreased 29%, to ¥65.7 billion ($413 million) for the fourth quarter of fiscal 2026 from ¥92.0 billion ($578 million) for the fourth quarter of fiscal 2025, and decreased 8%, to ¥309.6 billion ($1,946 million) in the fiscal 2026 full year from ¥337.5 billion ($2,122 million) in the fiscal 2025 full year. Fluctuations in Marketplace Trading Volume are usually driven by crypto-asset industry market volumes and conditions generally, and the size and level of trading activity at Coincheck specifically, as well as market-price fluctuations in the crypto assets frequently traded.
• Net loss was ¥1,217 million ($7.6 million) in the fourth quarter of fiscal 2026, compared to net profit of ¥642 million ($4.0 million) in the fourth quarter of fiscal 2025. The swing to a net loss was driven partially by a fourth quarter fiscal 2026 decline in Marketplace Trading Volume and increase in selling, general and administrative expenses consisting mainly of (i) employee severance expenses of ¥334 million ($2.1 million) related primarily to the March 31, 2026 departure of the Company's former CEO, (ii) professional fees of ¥261 million ($1.6 million) related to a potential transaction with which the Company decided not to move forward, and (iii) capitalized software impairment cost of ¥197 million ($1.2 million) relating to a particular Coincheck, Inc. development project (collectively, "Certain Specific Fourth Quarter 2026 Expenses"). For the fiscal 2026 full year, net loss was ¥1,833 million ($11.4 million), as compared to a net loss of ¥14,350 million ($90.2 million) in the fiscal 2025 full year. The fiscal 2025 full-year loss was heavily impacted by ¥18,321 million ($115.2 million) of transaction expenses7, partially offset by a ¥1,435 million ($9.0 million) gain from the change in fair value of warrant liability. Net loss in the fiscal 2026 full year was driven primarily by a decline in Marketplace Trading Volume and an increase in selling, general and administrative expenses consisting mainly of the Certain Specific Fourth Quarter 2026 Expenses.
• Adjusted EBITDA8 was ¥(864) million ($(5.4) million) in the fourth quarter of fiscal 2026, compared to Adjusted EBITDA of ¥719 million ($4.5 million) in the fourth quarter of fiscal 2025. For the fiscal 2026 full year, Adjusted EBITDA decreased 61% to ¥1,666 million ($10.5 million), from ¥4,283 million ($26.9 million) in the fiscal 2025 full year. These declines were related mainly to lower Adjusted Revenue driven mostly by declines in Marketplace Trading Volume and increased selling, general and administrative expenses consisting mainly of the Certain Specific Fourth Quarter 2026 Expenses.

Certain Quarter-Over-Quarter Highlights

• Total revenue decreased 17%, to ¥119.7 billion ($752 million) in the fourth quarter of fiscal 2026 from ¥143.5 billion ($902 million) in the third quarter of fiscal 2026, primarily driven by a decline in Marketplace Trading Volume.
• Adjusted Revenue for the fourth quarter of fiscal 2026 decreased 24%, to ¥2,907 million ($18 million) from ¥3,833 million ($24 million) in the third quarter of fiscal 2026. The decline was driven primarily by lower Marketplace Trading Volume in the fourth quarter of fiscal 2026.
• Verified Accounts increased 2%, to 2,527,772 as of March 31, 2026 from 2,475,345 as of December 31, 2025.
• Customer Assets decreased 23%, to ¥728.1 billion ($4,577 million) as of March 31, 2026 from ¥948.5 billion ($5,963 million) as of December 31, 2025. Even though the quantity of digital tokens held by customers remained relatively stable during the fourth quarter of fiscal 2026 , Customer Assets decreased due primarily to the decline in the market price of crypto assets, including Bitcoin, Ethereum and XRP.
• Marketplace Trading Volume decreased 25%, to ¥65.7 billion ($413 million) for the fourth quarter of fiscal 2026 from ¥87.7 billion ($551 million) for the third quarter of fiscal 2026.
• Net loss was ¥1,217 million ($7.6 million) in the fourth quarter of fiscal 2026, compared to net profit of ¥405 million ($2.5 million) in the third quarter of fiscal 2026. The swing to a net loss was driven by, in fourth quarter fiscal 2026, lower Adjusted Revenue and higher selling, general and administrative expenses consisting mainly of the Certain Specific Fourth Quarter 2026 Expenses.
• Adjusted EBITDA was ¥(864) million ($(5.4) million) in the fourth quarter of fiscal 2026, compared to Adjusted EBITDA of ¥1,428 million ($9.0 million) in the third quarter of fiscal 2026. The swing to negative Adjusted EBITDA in fourth quarter fiscal 2026 was driven primarily by a reduction in Adjusted Revenue and higher selling, general and administrative expenses consisting mainly of the Certain Specific Fourth Quarter 2026 Expenses.

Other Recent Highlights:

• KDDI Strategic Investment. Coincheck Group also today announced the signing of an agreement with KDDI Corporation, a telecommunications company with one of the largest customer bases in Japan, for KDDI to acquire, through newly issued ordinary shares of Coincheck Group, a 14.9% ownership interest in the Company in exchange for aggregate cash consideration of approximately $65 million. An agreement was also signed by KDDI and Coincheck Group’s Japanese subsidiary, Coincheck, Inc., to enter into a business alliance agreement focused on collaborative initiatives aimed at expanding the digital asset market in Japan, including through mutual customer referral programs and related revenue sharing and referral fees. For more information on the KDDI-Coincheck Group partnership, please click here.
• Acquisition of 3iQ. On February 28, 2026, Coincheck Group acquired 99.8% beneficial ownership of 3iQ Corp. 3iQ, based in Ontario, Canada, is one of the world’s leading alternative digital asset managers. The Company believes that 3iQ brings to Coincheck Group proven innovation, expertise and institutional product offerings and infrastructure recognized in the digital asset investment management space. Pascal St-Jean, 3iQ’s chief executive, was appointed as CEO of Coincheck Group effective April 1, 2026.
• ETF Fund Partnership with Scotia Bank. On March 4, 2026, it was announced that Scotiabank, one of Canada’s top-five banks by assets, had partnered with 3iQ to add a multi-crypto ETF (under ticker DXMC) to its product offering via 3iQ as sub advisor, highlighting growing institutional adoption of crypto assets for customers portfolios. The fund offers exposure to four cryptocurrencies: Bitcoin, Ethereum, Solana and XRP.

Webcast and Conference Call

Coincheck Group will host a live webcast to discuss its results today at 5:00 pm ET. The call will be hosted by the following members of Coincheck Group’s management: Pascal St-Jean, CEO, Jason Sandberg, CFO. The conference call can be accessed live via webcast from the Company’s investor relations website at https://www.coincheckgroup.com/news-events/ir-calendar. A replay will be available on the investor relations website following the call. The conference call can also be accessed over the phone by dialing 800-579-2543 or 785-424-1789; the Conference ID is CNCKQ4.

About Coincheck Group N.V.

Coincheck Group N.V. (NASDAQ: CNCK) seeks to bring together retail scale, institutional capability and resilient infrastructure in one digital finance platform offering. Built on its leadership position in Japan as a retail crypto asset exchange provider, the Company is expanding into institutional services and digital asset infrastructure across multiple markets. Its offerings include trade execution, custody, staking and asset management services alongside ongoing development in on-chain finance.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about trading, future financial and operating results, management updates, plans, objectives, expectations and intentions with respect to future operations, products and services, and commercial relationships; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning or the negative thereof. Such forward-looking statements are based upon the current beliefs and expectations of the Company’s management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond the Company’s control, which could cause actual results or events to differ materially from those presently anticipated; such risks, uncertainties, and assumptions, include, among others: (i) the issuance of a significant number of Coincheck Group shares resulting in immediate and substantial dilution to existing shareholders of Coincheck Group; (ii) Coincheck Group’s use of the funds it will receive from the issuance of shares to KDDI having disappointing results; (iii) the business alliance with KDDI having less positive results than expected; (iv) changes in the cryptocurrency and digital asset markets in which the Company competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (v) changes in global political, economic or industry conditions, the interest rate environment or conditions affecting the financial and capital markets, including the effects of inflation, trade policies and government regulation; (vi) changes in economic conditions and consumer sentiment; (vii) the price of crypto assets and volume of transactions on the Company’s platform; (viii) the development, utility and usage of crypto assets; (ix) demand for any particular crypto asset; (x) cyberattacks and security breaches on the Company platforms; (xi) the Company’s ability to introduce new products and services, (xii) the Company’s ability to execute its growth strategies, including identifying and executing B2B or B2B2C relationships, or acquisitions; (xiii) the ability to grow and manage growth profitably; (xiv) 3iQ and its business, including its recent commercial partnership with Scotia Bank, performing below expectations; and (xv) other risks and uncertainties discussed in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 20-F for the fiscal year ended March 31, 2025, as such factors may be updated from time to time, which are or will be accessible on the SEC’s website at www.sec.gov. The forward-looking statements included in this press release are made only as of the date of this press release and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law.

Non-IFRS financial measures

EBITDA, Adjusted EBITDA, Adjusted Transaction Revenue and Adjusted Revenue

In addition to the Company’s results determined in accordance with IFRS Accounting Standards, the Company presents EBITDA, Adjusted EBITDA, Adjusted Transaction Revenue and Adjusted Revenue, each of which is a non-IFRS measure, because the Company believes they are useful in evaluating its operating performance.

EBITDA represents net profit (loss) for the period before the impact of taxes, interest, depreciation, and amortization of intangible assets, and Adjusted EBITDA represents EBITDA, further adjusted, as follows. Adjusted EBITDA has been calculated differently beginning with the first quarter of fiscal 2026 than it was previously calculated for the fourth quarter of fiscal 2025. When the Company announced its financial results on May 13, 2025 for the fourth quarter of fiscal 2025, the further adjustment to calculate Adjusted EBITDA consisted only of transaction expenses. Beginning with the first quarter for the year ended March 31, 2026 (and for the foreseeable future), in evaluating how Adjusted EBITDA should be calculated, the Company considers, in addition to transaction expenses, the non-cash expenses of (i) share-based compensation, which the Company did not have prior to April 1, 2025, the majority of which consists of Coincheck Group restricted share unit awards granted to two of Coincheck, Inc.’s founders and awards granted related to the Company's December 2024 business combination that resulted in the Company's listing on Nasdaq, and (ii) change in fair value of warrant liability, which fluctuates quarter to quarter based on the Company’s share price.

Adjusted Transaction Revenue represents Total revenue, adjusted to exclude (i) commission received, (ii) staking revenue, (iii) investment management fee revenue and (iv) other revenue, as further adjusted to deduct cost of sales from (v) Retail and (vi) Institutional.

Adjusted Revenue represents Total revenue, adjusted to deduct cost of sales from (i) Retail, (ii) Institutional and (iii) staking reward distributions.

The Company uses EBITDA and Adjusted EBITDA, and now also Adjusted Transaction Revenue and Adjusted Revenue, to evaluate its ongoing operations and for internal planning and forecasting purposes and believes that EBITDA and Adjusted EBITDA, Adjusted Transaction Revenue, and Adjusted Revenue may be helpful to investors because they provide consistency and comparability with past financial performance. However, EBITDA, Adjusted EBITDA, Adjusted Transaction Revenue and Adjusted Revenue are presented for supplemental informational purposes only, have limitations as analytical tools, and should not be considered in isolation or as a substitute for financial information presented in accordance with IFRS Accounting Standards.

A reconciliation is provided below for each non-IFRS financial measures to the most directly comparable financial measure stated in accordance with IFRS Accounting Standards. Investors are encouraged to review the related IFRS Accounting Standards financial measures and the reconciliation of these non-IFRS financial measures to their most directly comparable IFRS Accounting Standards financial measures, and not to rely on any single financial measure to evaluate Coincheck Group’s business.

Please see tables on the following pages for reconciliations of non-IFRS Accounting Standards financial measures.

U.S. Dollar financial information

For the convenience of the reader, where applicable, Coincheck Group has translated U.S. Dollar amounts from Japanese Yen at the exchange rate of ¥159.080 per $1.00, which was the ¥/$ exchange rate reported by the Federal Reserve Bank of New York as of March 31, 2026.

This information is intended to be reviewed in conjunction with the Company’s filings with the SEC.

COINCHECK GROUP N.V. and its subsidiaries
CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS (UNAUDITED)
		Japanese Yen			United States Dollar*
		For the three months ended			For the three months ended
		March 31,			March 31,
(in millions)			2026			2026
Revenue:
Revenue		¥	118,822		$	746.9
Other revenue			873			5.5
Total revenue			119,695			752.4
Expenses:
Cost of sales			116,788			734.1
Selling, general and administrative expenses			4,299			27.0
Total expenses			121,087			761.1
Operating loss			(1,392)			(8.7)
Other income and expenses:
Other income			161			1.0
Other expenses			(202)			(1.3)
Financial income			174			1.1
Financial expenses			(46)			(0.3)
Share of loss of equity-accounted investees, net of tax			(17)			(0.1)
Loss before income taxes			(1,322)			(8.3)
Income tax benefit			(105)		If you liked this article and want to stay up to date with news from InnovationOpenLab.com subscribe to ours Free newsletter. Related news Keysight Joins Siemens Digital Industries Software Solution Partner Program as a Software and Technology Partner XTIUM Launches XTAI — XTIUM Trusted AI ComplianceCow to Demonstrate Generative AI-Powered CCM 3.0 Controls in ServiceNow IRM Certerra Expands Southwest Non-Destructive Testing Capabilities with Addition of Code NDT Venti’s Autonomous Vehicles Shatter 500,000-Mile and 340,000-Container Metrics in Global Logistics Hubs Uplynk Partners with TAG Video Systems to Make Streaming Performance Visible, Measurable, and Accountable Jeremy Bardin Assembles QII Development Leadership Team; Names Mark Rainey Executive Vice President of Development Services Artis Raises $7.3M Led by LiveOak Ventures to Handle the Work That Pulls Residential Architects, Designers, and Builders Away From Their Craft Last News RSA at Cybertech Europe 2024 Alaa Abdul Nabi, Vice President, Sales International at RSA presents the innovations the vendor brings to Cybertech as part of a passwordless vision for… Italian Security Awards 2024: G11 Media honours the best of Italian cybersecurity G11 Media's SecurityOpenLab magazine rewards excellence in cybersecurity: the best vendors based on user votes How Austria is making its AI ecosystem grow Always keeping an European perspective, Austria has developed a thriving AI ecosystem that now can attract talents and companies from other countries Sparkle and Telsy test Quantum Key Distribution in practice Successfully completing a Proof of Concept implementation in Athens, the two Italian companies prove that QKD can be easily implemented also in pre-existing… Most read K-Startup Grand Challenge 2026: Korea's Full-Cycle Launchpad for Global… #COMEUP2026--South Korea’s Ministry of SMEs and Startups (MSS) has opened applications for the K-Startup Grand Challenge (KSGC), the country’s premier… AI Moves IT Management Platforms Toward Autonomy, ISG says $III #AI--Enterprises increasingly rely on IT service management (ITSM) and related platforms for autonomous IT operations as AI adoption increases and… ScienceSoft to Present AI Workbench for Claims Handling at Insurance Tech… #ClaimsAutomation--ScienceSoft will join the Insurance Tech and Innovation Conference 2026 in Chicago, where insurance leaders will discuss practical… Lightspeed Successfully Supports New Intraday Margin Trading Framework Lightspeed Financial Services Group LLC (“Lightspeed”) today announced its successful support of the industry's transition to new intraday margin trading… Newsletter signup Join our mailing list to get weekly updates delivered to your inbox. Sign me up! G11 Media Networks BitCity ChannelCity ImpresaCity SecurityOpenLab GreenCity ImpresaGreen ItalianChannelAwards AgendaIct Home Newsletter Staff Copyright Contact us InnovationOpenLab is a channel of BitCity, a newspaper registered at the court of Como , n. 21/2007 del 11/10/2007- Registration ROC n. 15698 G11 MEDIA S.R.L. Registered office Via NUOVA VALASSINA, 4 22046 MERONE (CO) - P.IVA/C.F.03062910132 Como business register n. 03062910132 - REA n. 293834 CAPITALE SOCIALE Euro 30.000 i.v. Cookie Privacy