KDDI Corporation has filed a Schedule 13D reporting a new strategic stake in Coincheck Group N.V. KDDI purchased 28,536,516 ordinary shares for $65,063,256.48, or $2.28 per share, representing 14.9% of Coincheck’s outstanding ordinary shares based on the company’s disclosed share count.
The stake was bought with KDDI’s working capital under a Share Subscription and Investor Rights Agreement and is subject to a six‑month lock-up. KDDI gained the right to nominate one board member and holds registration rights to have its shares registered for resale after the lock-up. Through an Acknowledgement Agreement, Monex Group, Inc., Coincheck’s controlling shareholder, agreed to vote its 136,247,594 shares in favor of KDDI’s nominee, so KDDI and Monex together may be deemed to control voting over 85.9% of Coincheck’s ordinary shares. KDDI views the investment as part of a broader business alliance with Coincheck to expand the digital asset market in Japan.