sub-subsidiary; second-tier subsidiary
A company that is a subsidiary of another subsidiary; i.e., a grandchild company in a corporate group.
Our company is a sub-subsidiary of Company A.
The performance of sub-subsidiaries is also included in consolidated financial statements.
親会社 is the parent company; 孫会社 is two levels below the ultimate parent.
Compound of 孫 (grandchild) and 会社 (company), literally 'grandchild company'.