noun
keiretsu subsidiary; group-affiliated subsidiary
A subsidiary company that is part of a keiretsu (corporate group), typically with cross-shareholding and close business ties.
その系列子会社は親会社の製品だけを販売している。
That keiretsu subsidiary sells only the parent company's products.
Compound of 系列 (keiretsu, 'corporate group') and 子会社 (kogaisha, 'subsidiary').