KDDI Buys 14.9% of Coincheck for $65M, to Launch Wallet

KDDI purchased a 14.9% stake in Coincheck Group N.V. for $65 million and will distribute a non‑custodial digital asset wallet to its roughly 30 million au customers through a new joint venture.

KDDI subscribed to 28,536,516 newly issued ordinary shares at $2.28 per share. The transaction is expected to close in June 2026. Under the agreement, KDDI received registration rights for the shares and the right to nominate one non‑executive director to Coincheck Group’s board at the next annual meeting, anticipated in September 2026. The companies also signed a business alliance that covers customer referrals, revenue sharing and joint product development.

The joint venture, au Coincheck Digital Assets, Inc., is based in Minato‑ku, Tokyo and began operations after the investment was finalized in December 2025. Ownership of the venture is split with KDDI holding 50.1%, Coincheck holding 40% and au Financial Holdings holding 9.9%. The joint company plans to launch a non‑custodial wallet in summer 2026 that will give users direct control of private keys, provide access to onchain content and link to digital asset transaction services.

Coincheck Group is a Nasdaq‑listed Dutch holding company that operates a licensed crypto exchange in Japan. The exchange was founded in 2012 and functions under Japan’s regulated crypto framework. Coincheck Group reported fiscal year 2026 revenue of 480,244 million yen and said its net loss narrowed from the prior year.

Market reaction followed the announcement: Coincheck Group shares rose as much as 35% intraday on May 12 and were down about 7% the next day as of late morning trading on May 13. KDDI said it will not consolidate Coincheck Group as a subsidiary; Coincheck will remain a consolidated subsidiary of Monex Group and will not become an equity‑method affiliate of KDDI.

In a statement, Coincheck Group CEO Pascal St‑Jean described the partnership as “a powerful validation of Coincheck’s position as Japan’s leading crypto exchange” and added it “reflects the growing convergence of traditional finance and digital assets.” KDDI and au Financial Holdings are evaluating a potential future transfer of KDDI’s holdings in Coincheck Group and the joint venture to au Financial Holdings, subject to regulatory review.