Guys, let me spell it out for you. I'm an investor and I do this for a living. Nintendo actually has incredible disclosure compared to peers in the space. We will use FY3/2019 (last fiscal year ending March 2019) reported numbers.
Video game platform sales was JPY1,153Bn of which 1,028Bn was related to Switch (vast majority).
First, they report proportion of hardware sales to dedicated video game platform sales.
This was 58.4%, which implies 41.6% is software sales.
So 1,153Bn x 41.6% = 480Bn software sales.
Software sales include physical packaged software and digital software.
Digital software sales include a) downloadable version of packaged software, b) download-only software, c) add-on content and d) Nintendo Switch online.
What we are interested in is proportion of downloadable version of packaged software to total packaged software sales (in other words, what is digital / (digital + physical). That is the proportion of retailed games that are distributed digitally vs. physically.
Proportion of digital sales to dedicated video game software sales was 24.8%.
24.8% x 480 = 119Bn.
Physical software sales is hence, 480Bn - 119Bn = 361Bn (or 75.2% of software sales).
Then we want to isolate digital version of packaged software from rest of digital sales, luckily, Nintendo has just started disclosing this. Last fiscal year this was 67.6%.
So 67.6% x 119Bn = 80.4Bn = digital versions of packaged software.
So 80.4 (digital) + 361 (physical) = total packaged software sales of 441Bn.
Proportion of digital packaged software sales is roughly 18% (vs. total packaged software sales). Which is very low compared to Western publishers.
This is revenues, not units, the recognizes average selling price is higher for digital than for physical (physical copies sold are recognized at wholesale, i.e roughly $48 (after retail margin) out of $60 for a full-price game. Digital recognizes revenue at the $60 level (no retail margin). So recognized pricing for Nintendo is 30% or so higher on digital.
If we want an estimate on a unit level, we need to compare both at a wholesale level.
80.4/1.3=62Bn.
Packaged software sales at wholesale 62 + 361 = 423.
Digital ratio is hence around 15% in terms of units.
These are estimates, but best we have to go at. All numbers can be found here:
https://www.nintendo.co.jp/ir/pdf/2019/190730_2e.pdf
Hope it helps.