The publishers that have Agency pricing agreements in place vary from country to country. When Kobo emails a discount code to you, you will see this kind of legal notice at the bottom:
Quote:
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Offer valid from June 15, 2012 at 12:00 AM through June 18, 2012 at 11:59 PM EST. This offer is not valid in conjunction with any other offer or promotion and cannot be used to adjust amount paid on previous purchases. Discount code is valid for one time 25% off any eBook purchase excluding those from the following publishers: In the UK - Hachette Book Group, HarperCollins, Penguin, Random House, Simon & Schuster, Wiley, and Zondervan, and all respective subsidiary imprints. In the US - Hachette Book Group, HarperCollins, Macmillan, Penguin, Random House, Simon & Schuster, Wiley, and Zondervan, and all respective subsidiary imprints. In CA - Hachette Book Group, HarperCollins, Macmillan, Penguin, Random House, Simon & Schuster, Wiley, and Zondervan, and all respective subsidiary imprints. In NZ - Hachette Book Group, and Wiley, and all respective subsidiary imprints. In AU - Hachette Book Group, HarperCollins, Macmillan Australia, Penguin Australia, Simon &am p; Schuster, Wiley, and Zondervan, and all respective subsidiary imprints. Newspapers and magazines are excluded from this offer. Promotional code must be entered at time of purchase to qualify for this discount. Discounts cannot be applied nor the discount value refunded once a purchase is complete. We reserve the right to change or end this offer at any time without notice.
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I bolded the part that references agency pricing on a per country basis.