I purchased my Kobo from Angus and Robertson and had it posted to Japan.
I updated the firmware using the links to download the application that you will see in other threads (e.g. as if you bought direct from Kobo store). This gives you a new Kobo application that is the same as the Angus and Robertson one, just with different branding and connected to Kobo shop.
I tried the Angus and Robertson App hoping it would behave well with the new firmware, but unfortunately it detected the version mismatch and didn't work. I also have the Borders Australia App (same thing, just rebranded) and that had the same problem.
I'm managing my library using Calibre. At the moment I'm just reading free books. If I want to purchase one I guess I'll be buying from the Kobo store. Whether this is good or bad depends a lot on currency fluctuations.