noun
Refers to one's spouse's parents collectively. The term is neutral and commonly used in formal and everyday contexts.
義父母と同居しています。
I live with my parents-in-law.
義父母に初めて会うときは緊張した。
I was nervous when I met my parents-in-law for the first time.
義母 refers specifically to a mother-in-law, while 義父母 is the collective term for both parents-in-law.
Compound of 義 (ぎ, 'in-law, non-blood relation') and 父母 (ふぼ, 'father and mother, parents').