Kobo has to make a determination regarding what country you are in for purchasing purposes. This will be true as long as here is an issue with the books that are available in a particular country--and that is a Publisher/contract issue.
There are various workarounds, all of which seem to violate the TOS, a document which is in line with the agreements that Publishers and Kobo have. For example, it seems that if I were to use VPN showing a US address, and my address on the Kobo site were to be in the US, then using my Canadian credit card company doesn't seem to matter. Just saying, of course, as I would not actually violate the TOS and risk having my account closed.
I do think we are seeing some transitional artifacts right now as they get ready to debut the Japanese site on the 19th.
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