https://en.wikipedia.org/wiki/Subsidiary

Subsidiaries are separate and distinct legal entities from their parent companies, which reflects in the independence of their liabilities, taxation and governance. Given their controlling interest, however, parent companies, along with other subsidiary shareholders, vote to elect a subsidiary company's board of directors, and there may often be board member overlap between a subsidiary and its parent company. A parent company will typically aggregate financials from all its operations, including those of its subsidiaries, and carry these financials on its own consolidated financial statements. A parent company may own a foreign subsidiary, in which case the subsidiary must follow the laws of the country where it is incorporated and operates.

Subsidiary is an adjective that describes when something or someone serves to assist or supplement another thing or person. In a business setting, a subsidiary becomes part of a parent company to provide the parent with specific synergies, such as increased tax benefits, diversified risk, or assets in the form of earnings, equipment or property. The purchase of interest in a subsidiary differs from a merger in that the parent corporation can acquire a controlling interest with a smaller investment. Additionally, shareholder approval is not required in the formation of a subsidiary as it would be in the event of a merger

The company has one or many formats / setups ..