関かん連れん会がい社しゃ

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Meanings

affiliated company; associated company

Refers to a company that is related to another through ownership, control, or business ties, such as a subsidiary or affiliate.

親おや会がい社しゃ
親会社 denotes a company with a controlling parent-subsidiary relationship, whereas 関連会社 refers to a more loosely affiliated company without full control.
子こ会がい社しゃ
子会社 refers to a company under full or majority control of a parent, whereas 関連会社 denotes a more loosely affiliated company.
外がい郭かく団だん体たい
関連会社 is a general term for a business-related company, whereas 外郭団体 specifically implies a supporting, often peripheral role to a parent government or corporate body.

Compound of 関連 (かんれん, 'relation, connection') and 会社 (かいしゃ, 'company').