[tomsem]

If the Kobo is using a recent version of the Adobe SDK, you should be able to read B&N books on it. The SDK supports both flavors. If you have an ePub from B&N, and open it on a device that has a recent version of the Adobe SDK, it should prompt for your B&N user name and 'password' (the credit card number used to purchase the book). That will unlock the book and any subsequent books that use the same key, as I understand it. I have been able to read B&N books on non-B&N reading systems.

Kobo support should be able to confirm this (or not).

Note that 'B&N DRM' is not proprietary to B&N - anyone who licenses Adobe Content Server can choose to use it. Note that it obviates the need to get an Adobe ID, or need to use ADE to side-load books that use this type of DRM, except when borrowing library books. Because the credit card number is real, it discourages casual sharing of the book and the credentials needed to open it.