Kobo's Japan store
might be different, but so far I've successfully bought books from India, Switzerland, Spain, Turkey, Norway all by:
- Removing my payment details from my account
- Setting my "billing country" to the desired country
- Going to the relevant store
- Buying with PayPal, or credits on my account via a gift card
The Kobo apps are all able to download the purchased books.
Or in other words from experience Kobo's DRM just locks you to an account (an email address) and
not a billing address/country/store.