noun
company undergoing rehabilitation; company in reorganization
Legal and business term for a company that has entered court-supervised rehabilitation proceedings under the Corporate Reorganization Law (会社更生法).
更生会社の再建計画が裁判所に認められた。
The rehabilitation plan of the company undergoing reorganization was approved by the court.
Compound of 更生 (rehabilitation, rebirth) and 会社 (company). The term is directly tied to the 会社更生法 (Corporate Reorganization Law).