A Company can be describe in many ways.
You can simply say that in SAP system, the "Company" is the parent company and the subsidiaries are the Company Codes. See the example below:
Company Name (parent company): Digital USA
Subsidiary companies: Digital India, Digital JAPAN, Digital CHINA, etc. (with different company codes)
Difference Between Company And Company Code in SAP
原文：https://www.cnblogs.com/RogerLu/p/15210501.html